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Containerized shipments traded between South Korea and Japan suffered a double-digit contraction in August, plunging 14% from 156,800 TEUs to 135,100 TEUs and registering a year-on-year decrease for three months in a row, or since June, according to the Korea Nearsea Freight Conference (KNFC).

As for local containers moved between the economies, exports from South Korea to Japan plummeted 17% to 24,500 TEUs, while imports from Japan to South Korea shrank 18% to 21,300 TEUs. Transshipment (T/S) containers also marked a double-digit decline, sinking 12% to 89,200 TEUs.

In the first eight months (January-August), 1,145,400 TEUs were moved on the trade, down 11%. It was the first time in 11 years, or since 2009, when South Korea was hit by a major financial crisis, that a double-digit shrinkage had ever been registered.

Meanwhile, 246,000 TEUs of containers were carried between South Korea and China in September, which surged 16.9% from 287,600 TEUs, according to the Yellow Sea Liner Shipping Council (YSLSC). The route enjoyed a year-on-year improvement in container movement for seven consecutive months, or since March, and the first double-digit increase since the beginning of the calendar year.

South Korea exported 101,600 TEUs to China, up 19.1%, and imported 165,100 TEUs, up 16.4%. Containers transported in feeder services were as brisk, soaring 11% to 20,900 TEUs.


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