News
Container trade between South Korea and China slightly decreased in July, totaling 275,800 TEUs in volume, down 6% from 293,700 TEUs in the same month of last year, according to data compiled by the Yellow Sea Liner Shipping Council (YSLSC). It remained on an upward trend for five months in a row from the beginning of the year but continued to fall for the second month running from June.
Exports from South Korea to China shrank 9% to 97,000 TEUs, while imports from China to South Korea declined 0.5% to 160,800 TEUs. Containers moved in feeder operations between the economies plunged 29% to 18,000 TEUs.
In China, extremely hot weather and the COVID-19 pandemic increased energy demand, causing a shortage of electricity. The situation led to downturns in factory utilization, which worked as a negative factor behind the overall throughput reduction on the trade.
In the first seven months (January-July), a total of 1,981,700 TEUs were handled on the route, up 8%. Exports from South Korea accounted for 676,000 TEUs, up 3%, and imports to South Korea, 1,171,700 TEUs, up 14%. Meanwhile, 133,900 TEUs were carried in feeder services, down 11%.
