Crisis meeting with the Tank Terminal Council
Ulsan Port Authority (UPA), led by President Byun Jae-young, convened a crisis response meeting on March 13 with refiners and members of the Ulsan Port Tank Terminal Council to address rapid shifts in the global shipping and logistics market driven by the war in the Middle East.
Meeting participants assessed how a prolonged blockade of the Strait of Hormuz could reduce liquid cargo throughput at Ulsan Port and discussed contingency plans to mitigate potential disruptions.
As of last year, Ulsan Port imported about 54.79 million metric tons of crude oil from Middle Eastern countries (roughly 60.4 million short tons). UPA warned that cargo volumes are likely to decline if the conflict continues and said it will work closely with port stakeholders to develop proactive countermeasures.
On March 11, UPA established an emergency task force led by the vice president of operations. Organized into situation, operations and support teams, the task force has been continuously monitoring international developments and their potential impact on Ulsan Port.
“We will respond swiftly to developments stemming from the situation in the Middle East to ensure uninterrupted port operations,” UPA President Byun Jae-young said.
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