Ulsan port emerges as Northeast Asian oil hub

“The port of Ulsan lies at a strategic foothold of marine transportation for Asia and the Pacific Ocean. Ulsan Port Authority will work diligently to turn the port into a hub of the Northeast Asian oil distribution by expanding and harnessing grand-scale petrochemistry infrastructure,” said Park Jong-rok, president of the Ulsan Port Authority (UPA).

The port of Ulsan, which marks its 50th anniversary this year, was developed throughout the course of a five-year economic development plan in 1963. Over the past 50 years, the figures representing the amount of commerce associated with Ulsan port have increased staggeringly. The quantity of good transported at the time of opening amounted to a total of 924,000 tons and the number of ships coming into port was a meager 1,900. Today, the amount has surpassed 100 million tons, up by a factor of 177, and the number of ships increased tenfold to 2,576.

In the 1970s, with automotive and shipbuilding industries booming and petrochemistry businesses expanding, the port of Ulsan witnessed rapid growth, subsequently propping up heavy chemical industries. Throughout the 1980s and 1990s, traffic demand of export cargo surged at the port, subsequently leading to the expansion of the port. Today, the port of Ulsan is the third largest port in Korea after those located in Busan and Gwangyang, and it remains at the top in the area of liquid treatment. In terms of liquid cargo treatment, the port of Ulsan is ranked fourth worldwide after Houston, Rotterdam, and Singapore, dealing with 200 million tons annually.

For full article, see Korea IT Times.

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