News
South Korea has set a target container throughput for 2014. The Ministry of Oceans and Fisheries projects the nation will handle a total of 24.41 million TEUs of containers this year, which would increase 4.1%—or an average of 80,000 TEUs every month—from the record-high 23.44 million TEUs processed in 2013. The ministry also expects a year-on-year growth of 6.7% in transshipment (T/S) containers.
It is anticipated that Busan, which processes 75% of containers to and from South Korea, will handle 18.25 million TEUs in 2014, which would represent an improvement of 3.3% from a year earlier. In breakdown, exports and imports will go up 1.4% to 9.05 million TEUs, and T/S containers, up 5.2% to 9.2 million TEUs.
Container volumes are estimated to exceed the two-million-TEU line for the second consecutive year at both Kwangyang and Inchon, which are responsible for 9.7% and 9.2% of the nation’s overall throughput, respectively. Volumes are foreseen to swell 7.6% to a record 2.45 million TEUs at the former port and 8.7% to 2.348 million TEUs at the latter.
