News
Container movement between South Korea and China increased a minute 1.77% from a year earlier to 1,341,089 TEUs in the first half (January-June) of 2016, according to a report compiled by the Yellow Sea Liners Committee (YSLC). Freight rates were weak at a time when container trade was sluggish on top of the oversupply of tonnage. However, a system under which freight rates are publically disclosed was introduced this month, helping them, which had been hovering in the negative zone, return on a recovery track.
In breakdown, local containers accounted for 1,251,810 TEUs, growing 3.38% year on year, but feeder containers plunged 16.54% to 89,279 million TEUs.
Westbound containers from South Korea to China decreased 2.53% to 534,293 TEUs, which was made up of 496,118 TEUs of local cargo, which waned 1.59%, and 38,175 TEUs of feeder shipments, which suffered a double-digit decline of 13.25%.
Meanwhile, eastbound containers from China to South Korea hiked 4.82% from a year earlier to 806,796 TEUs. Local cargo climbed 6.93% to 755,692 TEUs, while feeder containers plunged 18.85% to 51,104 TEUs.
