North Korea has opened a Russian-funded transhipment terminal in the north eastern port of Rajin, according to a report carried by the Korean Central News Agency (KCNA) on July 18.

The terminal cost over $250 million to construct and can facilitate the transfer of up to five million tonnes of freight per year.

KCNA said the wharf “provided another foundation for making a positive contribution to boosting the friendly and cooperative relations between the two countries and economic and trade relations among countries of Europe and Northeast Asia”.

Before completion of the project the port’s freight handling capacity was four