Yeosu Gwangyang Port Authority Promotes Strengthening of Petrochemical Cargo Volume

Video Conference Held with UAE Abu Dhabi National Oil Company

Yeosu Gwangyang Port Authority (President Park Seong-hyun, hereinafter YGPA) announced that it held a video conference on the 27th with officials from ADNOC (Abu Dhabi National Oil Company), the largest state-owned oil company in the United Arab Emirates (UAE), to expand petrochemical cargo volume at Yeosu Gwangyang Port and strengthen its global network.

Through the 'Korea National Oil Corporation-ADNOC International Joint Stockpile Agreement' signed during the presidential state visit in January this year, ADNOC delivered 2 million barrels of crude oil to the Yeosu storage base in March.

Officials from Abu Dhabi National Oil Company (ADNOC) and Korea National Oil Corporation are celebrating the arrival of the first batch of the international joint stockpile in front of the Yeosu Storage Base.
Photo by Yeosu Gwangyang Port Authority

Thanks to this, Yeosu Gwangyang Port has continued to show an increase in total cargo volume, uniquely among major domestic ports, with petrochemical cargo volume rising by 3.6% (3.4 million tons) compared to the same period last year as of August this year.

During this practical video conference, YGPA introduced the current facilities of Yeosu Gwangyang Port and petrochemical resident companies to ADNOC's Far East Asia crude oil sales division staff, and explained future development plans such as the Yulchon Convergence Complex, thereby enhancing exchanges between ADNOC and Yeosu Gwangyang Port to expand petrochemical cargo volume and strengthen the global network.

A YGPA marketing department official stated, "As we held this video conference with ADNOC staff, we will continue marketing activities to attract expanded petrochemical cargo volume including crude oil at Yeosu Gwangyang Port, striving to increase total cargo volume."

Meanwhile, Gwangyang Port's container cargo volume has shown the effects of "foot-on-the-ground sales" by newly attracting four regular liner routes in the third quarter, recording 490,000 TEU, a 13.5% increase compared to 430,000 TEU in the same period last year.

This content was produced with the assistance of AI translation services.