News
Combined volume of local, feeder and transshipment (T/S) containers (including empty containers) moved to and from South Korea in 2016 was 1,825,986 TEUs, growing 1.8% (32,134 TEUs) from the previous year’s 1,793,852 TEUs and achieving the first year-on-year improvement in two years, according to the Korea Nearsea Freight Conference (KNFC).
Local containers swelled 1% to 726,095 TEUs. Feeder containers, however, fell 7.2% to 322,770 TEUs, impacted by the collapse of Hanjin Shipping Co., Ltd. T/S containers were brisk, rising 6.9% to 777,121 TEUs thanks to increases in those to Southeast Asia via South Korea and others.
As for local containers, exports from South Korea went up 0.7% to 381,134 TEUs, and imports, up 1.1% to 344,961 TEUs. On the other hand, feeder cargo diminished in both directions, with outbound containers going down 7.8% to 167,196 TEUs, and inbound containers, down 6.7% to 155,574 TEUs. In contrast, T/S containers enjoyed growth in both exports and import, which hiked 8.3% to 488,903 TEUs and 4.6% to 288,218 TEUs, respectively.
