News
South Korea’s Ministry of Oceans and Fisheries unveiled last week the nation’s container ports handled a total of 24.733 million TEUs in 2014. The total rose 5.4% year on year from 23.469 million TEUs, thanks to increases in exports to and imports from the U.S., China, Europe and other major trade partners as well as growth in transshipment (T/S) cargo throughput at Busan. Exports and imports swelled 4.3% to 14.552 million TEUs, and T/S cargo improved 7% to 9.974 million TEUs.
By port, throughput at Busan, South Korea’s leading container port, inflated a mere 5.5% from a year earlier to 18.652 million TEUs last year, as global carriers increased volumes processed at Busan New Port. T/S containers climbed 7.6% from 8.748 million TEUs to 9.414 million TEUs, helping Busan enhance its presence as a T/S cargo port in Northeast Asia.
Kwangyang handled 2,336,000 TEUs, increasing 2.3% from 2.285 million TEUs and processing more than two million TEUs for five consecutive years since it became operational. Container throughput at Incheon went up 8% from 2,161 million TEUs to 2.335 million TEUs, exceeding two million TEUs for two back-to-back years. Major factors behind the growth included improvements in containerized shipments to and from China and Southeast Asia. Inchon played a more important role as a gateway port in the metropolitan area.
