Monthly Record High
The container cargo volume handled at Incheon Port in April hit a record high of 223,000 TEU. The monthly handling surpassed the mark of 220,000 TEU again in six months after it hit 210,000 TEU in October last year.
Incheon Port Authority (IPA, www.icpa.or.kr) announced on May 25 that the container cargo volume handled at Incheon Port in April increased by 11 percent to post 201,039 TEU from 223,126 TEU a year ago. The accumulated volume until April this year showed an 8.6 percent growth compared to the same period of last year.
According to the IPA, the import cargo in April increased by 12.3 percent year-on-year to stand at 118,919 TEU, accounting for 53.3 percent of the total cargo volume handled at Incheon Port. The export cargo increased to post 102,102 TEU, up 10.6 percent from 9,776 TEU a year earlier. The volume of transshipment and coastal cargos recorded 1,320 TEU and 785 TEU, respectively.
By country, the trade volume with China increased by 6.6 percent or 8,298 TEU year-on-year to post 133,213 TEU. The rise is attributable to the increase in imported products from China, including textiles, electronics and their parts, and general merchandise. The volume of trades with Vietnam rose by 18.0 percent or 2,791 TEU compared to the same month of last year to post 18,316 TEU, which was prompted by the cargo volume increase due to continuous influx of investment by Korean manufacturers in Vietnam.
By region, the trade volume with the Far East Region including China and Taiwan increased by 8.4 percent or 12,497 TEU to stand at 160,688 TEU. The trade volume with the Southeast Asian region rose by 19.5 percent or 7,205 TEU to post 44,133 TEU. Meanwhile, those with Japan and South American countries inched down by 4.5 percent or 229 TEU and 12.2 percent or 202 TEU to post 4,910 TEU and 1,456 TEU, respectively.
The container cargos showing an increase in import and export reached 21 items of the total 31 traded, including plastics, rubber products, machinery and their parts, and general merchandise.
Yoo Chang-keun, president of the IPA, said, “If the container cargo traffic continues to grow, the volume handled at Incheon Port will reach 230,000 TEU in November this year.” Yoo added, “We at the IPA will try to meet the needs of shippers in Seoul metropolitan areas by completing promptly the construction of the Incheon New Port logistics hinterland and the Ah-am Distribution Complex 2, as well as making persistently the improvement of the import and export logistics environment.”