Mokpo port in South Korea has found an operator for a new vehicle terminal completed in July.
South Korean logistics companies CJ Korea Express and Dongbang Co form the winning consortium along with Mokpo New Port, said Mokpo Regional Oceans and Fisheries Administration Office.
Constructed under the second stage of a port development project, the car carrier terminal has a land area of 96,000 m² and a 30,000-tonne ship berth with 240 m of quay.
The operator will take a five-year contract worth an estimated KRW427 million (USD260,000) in annual rent, although this amount may change according to factors such as the size of on-site buildings.
The consortium was picked through a tender launched in August after an initial tender in June failed to attract any candidates the port administration considered suitable.
To ensure the car terminal is ready for operation in March 2016, the consortium will install an operations office and security facilities.
Mokpo’s vehicle-handling capacity has lagged demand, so that its general cargo facilities have handled some vehicles. Inadequate open storage yards have also hindered the smooth transportation of vehicles.
Mokpo Regional Oceans and Fisheries Administration aims for Mokpo to become by 2025 a dedicated harbour for vehicles.