News
South Korea exported and imported a total of 342,400 TEUs of containers to and from eight other Asian economies in January, which improved 8.9% year on year from 314,500 TEUs. Shipments from South Korea grew 9.4% from 150,800 TEUs to 172,800 TEUs, while those to South Korea swelled3.6% from 163,700 TEUs to 169,600 TEUs.
By trade partner, containers to and from Vietnam accounted for 118,100 TEUs, which surged 19% and held the largest share of the pie. Those to and from Thailand shrank 5% to 44,300 TEUs but managed to finish in second place. Exports to and imports from Indonesia increased 3% to 39,700 TEUs. Those to and from Taiwan amounted to 37,100 TEUs, up 4%. Shipments to and from Malaysia, in contrast, fell 8% to 34,600 TEUs.
On the Southeast Asia trade, container movement is stable, but there have been tonnage and container shortages for some time now. Some operators have imposed a container imbalance charge (CIC) of $80 per TEU since the beginning of the year, leading to raising freight rates across the board.
