Panstar Seeks Policy Support for Commercial Arctic Route Operations ... “Dedicated Busan Port Terminal and Shipper Incentives Needed”

[Financial News] Panstar Line.com, the first Korean container ship operator to successfully complete a round trip on the Arctic route, has called for policy support to attract cargo—including a dedicated terminal at Busan Port and incentives for shippers—to turn the results of its trial voyage into commercial operations.
On the morning of the 28th, the Busan Regional Economic Revitalization Fund held an on-site meeting at Panstar Line.com in the Busan Port International Passenger Terminal to discuss support measures for commercial operations on the Arctic route.
Panstar Line.com’s container ship Panstar Acro departed Busan Newport on August 22, sailed via the Arctic route, called at ports in Europe and returned on the 11th. When the Arctic route is used, the distance between Busan and Rotterdam is about 13,000 km—about 7,000 km shorter than the route through the Suez Canal—demonstrating its potential as a new logistics route.
Panstar emphasized that commercial operations on the Arctic route would require not only opening the route but also securing shippers to participate in actual transportation and building stable cargo volumes. 
To that end, it proposed building a dedicated Arctic route terminal at Busan Port and introducing transshipment incentives; launching an Arctic Shippers Council and providing incentives for shippers; expanding support for container manufacturing costs; supporting efforts to secure logistics hubs in Europe; and covering the costs of complying with EU carbon regulations.
In particular, to secure stable demand for transportation, it called for a dedicated terminal at Busan Port to consolidate cargo for the Arctic route, and for a shippers’ council to be formed within the Korea International Trade Association (KITA) to support companies using the route. 
Panstar Group Chairman Kim Hyun-gyeom said, “With the successful voyage of the Acro, the Arctic route is now an alternative route becoming reality, rather than remaining a mere possibility. A shipping company can open a route, but sustaining it depends on port infrastructure and cargo. I hope the proposals we made today will be reflected in concrete policies and help Busan Port make a leap forward as the undisputed maritime capital of Northeast Asia.”
Busan Chamber of Commerce and Industry Chairman Yang Jaesaeng said, “The government and relevant agencies must actively support efforts to secure cargo volumes and expand port and overseas logistics infrastructure.” He added, “The Busan Chamber of Commerce and Industry will also pool its efforts to turn the proposals from the field into concrete support policies.”
The Busan Chamber of Commerce and Industry plans to have the relevant agencies review the proposals gathered at the meeting and develop them into policy recommendations. It will also continue to identify challenges faced by local shipping and logistics companies and maintain its support activities to strengthen Busan Port’s competitiveness as a hub for the Arctic route.
[email protected] Kwon Byeong-seok Reporter