  We study phi photoproduction with various hadronic rescattering contributions
included, in addition to the Pomeron and pseudoscalar meson-exchange diagrams.
We find that the hadronic box diagrams can explain the recent experimental data
in the vicinity of the threshold. In particular, the bump-like structure at the
photon energy E_gamma \approx 2.3$ GeV is well explained by the K Lambda(1520)
rescattering amplitude in the intermediate state, which is the dominant
contribution among other hadronic contributions. We also find that the hadronic
box diagrams are consistent with the observed spin-density matrix elements near
the threshold region.
