News
South Korea’s trade ports did not perform well in August. Combined volume of containerized shipments handled there went down 3.9% year on year to 2.32 million TEUs, according to figures compiled by the nation’s Ministry of Oceans and Fisheries (MOF). Exports and imports decreased 4.3% to 1.31 million TEUs in total. Transhipment (T/S) containers were also stagnant, falling 3.2% to one million TEUs.
By port, Busan was responsible for 1.73 million TEUs, down 5.6%. Exports and imports accounted for a total of 754,000 TEUs, down 10.7%, and T/S containers, 975,000 TEUs, down 1.2%.
Kwangyang processed 165,000 TEUs, down 14.9%. Exports and imports only declined a relatively mild 3.4% to total 143,000 TEUs, but T/S containers plunged a more significant 52.5% to 22,000 TEUs.
At Incheon, in contrast, container throughput improved 10.3% to 274,000 TEUs. Exports and imports were as brisk, thanks to new services launched in early 2020 to and from China, Vietnam and other economies, swelling 9% to 269,000 TEUs in total. Nevertheless, growth in T/S containers was minute, which amounted to 5,000 TEUs.
