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South Korea exported and imported a total of 299,920 TEUs of containers to and from China in May, which swelled 4% year on year from 288,300 TEUs, according to statistics compiled by the Yellow Sea Liner Shipping Council (YSLSC). Container trade between the countries amounted to 301,800 TEUs in March, going up 14% to hit a new monthly record, and 305,100 TEUs in April, up 11%, registering double-digit improvement for the second month in a row. However, it decelerated in May, only marking a single-digit increase.
Looking at shipments moved directly on the trade route, those from South Korea to China fell 5% to 101,000 TEUs, suffering their first year-on-year contraction in five months. In contrast, those from China to South Korea were massive, surging 13% to 178,000 TEUs. Those moved in feeder transport plunged 17% to 20,200 TEUs.
In May, synthetic resins, which usually hold a considerable share in commodities exported from South Korea to China, marked a double-digit decline, plunging 28% to 416,600 tons. It is analyzed they became the leading factor behind the fall of overall container movement from South Korea to China in the month in question.
