News
The Ministry of Oceans and Fisheries of South Korea announced on Dec. 26 that trade ports in the nation processed a total of 123.66 million tons of cargo in November, which increased 3.2% year on year from 119.83 million tons. Containerized shipments grew a massive 5.4% from 2.08 million TEUs to 2.19 million TEUs. In breakdown, exports and imports were much more powerful, surging 12.1% to 1.349 million TEUs in total, but transshipment (T/S) containers were not, falling 4.1% to 820,000 TEUs.
By port, Busan handled 1.624 million TEUs, which increased 5.5% from a year earlier. Outbound and inbound containers soared 11.5% to a total of 830,000 TEUs, thanks to increases in those to Southeast Asia. In contrast, T/S cargo declined 0.2% to 794,000 TEUs, suffering a year-on-year contraction for two months in a row.
Container lifting was favoravle at Inchon, swelling 20.1% to 253,000 TEUs. On the other hand, Kwangyang incurred a double-digit decrease of 15.1% in throughput, which amounted to 172,000 TEUs. Exports and imports grew 2.8% to 150,000 TEUs in total, but containers transshipped at the port plunged 61.3% to 22,000 TEUs.
