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Incheon Port Handles 250,000 TEUs of Container Cargo in Oct.
Record High Cargo Handling
Incheon Port Handles 250,000 TEUs of Container Cargo in Oct.
  • By Jung Min-hee
  • November 25, 2016, 03:00
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Incheon Port handled a total of 251,000 TEUs in October, the largest ever in a month in its history.
Incheon Port handled a total of 251,000 TEUs in October, the largest ever in a month in its history.

 

The total volume of container cargos transported via Incheon Port in October recorded 251,000 TEUs, the largest ever in a month in the history of Incheon port. The monthly figure surpassed 250,000 TEUs in three months after recording 220,000 TEUs in April and 230,000 TEUs in July this year.

Incheon Port Authority, or IPA (www.icpa.or.kr․IPA), announced on November 24 that the container cargo volume transported through Incheon Port in October recorded 251,478 TEUs, a 17.2 percent increase from 214,550 TEUs in October last year. The total volume of container cargos from January to October this year stood at 2.16 million TEUs, up 10.8 percent from the same period a year ago.

According to the IPA, among the total container cargos in October, imported goods accounted for 49.8 percent with 125,227 TEUs, which increased by 14,636 TEUs, or 13.2 percent, compared to the same month of last year. Export cargos amounted to 124,074 TEUs, which also increased by 23,219 TEUs, or 23 percent, from a year earlier. Volumes of transshipment and coastal transportation recorded 1,491 TEUs and 687 TEUs, respectively.

By country, container shipments related to China increased by 17.9 percent, or 23,050 TEUs, to 151,995 TEUs. Its imports and exports showed a 16 percent and 19.6 percent increase, respectively. Notably, imports of textile fabric and its products, and its electric equipment and its components from China showed a marked increase. Container shipments to Vietnam reached 24,759 TEUs, up 26.8 percent, or 5,227 TEUs, from the same month a year ago as its imports and exports increased by 16.5 percent and 50.8 percent, respectively.

In particular, the container shipment to South Africa increased by 16 times, or 1,143 TEUs, to 1,215 TEUs compared to October last year due to a rapid increase in imports of nonferrous metals, other ores, beverage and liquor products and manufactured foods from South Africa.

By region, the shipment related to the Far East Asian region including China reached 184,116 TEUs by increasing 17.9 percent, or 27,905 TEUs, from a year ago. The cargo exported to or imported from Southeast Asia amounted to 49,162 TEUs, an increase of 22.4 percent, or 8,996 TEUs. On the other hand, the shipment related to Europe dropped to 2,693 TEUs, down 20 percent, or 673 TEUs.

The containerized shipments of 18 out of 31 items grew, including textile fabric and its products, general merchandise, and cars and its components.

Meanwhile, the bulk cargo volume transported during the same period this year recorded 9.77 million tons (RT), a 6.2 percent increase from a year earlier.

The import cargo showed a 12.4 percent increase to 5.8 million tons, accounting for 59 percent of the total bulk cargo volume. The volume of export cargo dropped by 28.4 percent to 640,000 tons, accounting for 7 percent of the total. The coastal transported cargo accounted for 34 percent, up 5.8 percent from a year ago.

The shipments of bituminous coal increased by 500,000 tons, accounting for 12 percent of the total cargo volume, due to growing demand for electric power. The shipments of petroleum gas also increased by 410,000 tons, accounting for 23 percent of the total cargo volume, due to the increase in LNG imports caused by the regulation of supply and demand.