Press Release

Incheon Port records highest TEU per quarter in history

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2017.11.02. 60

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[October 31th, 2017, Incheon, Republic of Korea]

 

Incheon Port Authority (www.icpa.or.kr, CEO Nam Bong Hyeon) revealed on the 30th that the container volume handled by Incheon Port increased by 15.8% from 675,000 TEU in the same quarter last year to 781,000 TEU.

 

This is the highest number in the quarterly container volume handled in the history of Incheon Port and has set a new record after achieving 700,000 TEU in the 4th quarter last year. This year’s cumulative container volume is 2.251 million TEU.

 

According to Incheon Port Authority, out of the total cargo volume in the 3rd quarter of Incheon Port, import cargo took up 50.4% with 393,000 TEU, an increase of 45,000 TEU (12.9%) from the same quarter in the previous year. As for export, it was 381,000 TEU, an increase of 61,000 TEU (19.1%) from the same quarter in the previous year. As for transshipment and coastal cargo volume, it recorded 4,743TEU (25.0%) and 1,907TEU (16.4%) respectively. 

 

Per country, volume to China (470,114 TEU) increased by 19.6% (77,163TEU) and volume to Thailand (35,191 TEU) increased by 39.7% (9,995 TEU). Volume to Iran (11,821 TEU) experienced an increase in the volume since the establishment of the Middle Eastern Route service in June last year, showing a 94.9% (5,756 TEU) increase. 

 

On the other hand, Incheon Port’s container volume last month recorded the highest in the September volume in history with 265,134 TEU which is a 19.6% increase from 221,727 TEU last year. The long festive season, Chuseok, at the beginning of October leading to early shipment seems to be the cause for higher volume in September this year compared to the predicted volume. 

 

Kim Jong Gil, the director of Incheon Port’s Logistics Strategy Bureau stated that “the cargo volume to the Chinese port would continue to take up the highest share in the future but the cargo volume of South East Asia is expected to rise continuously” and that “in the future, we will strive to satisfy the needs of forwarders of import and export by diversifying the routes through the expansion of coast line services in not only South East Asia but also in the America region.” 

 

 

< Other analytic materials: Centered on Incheon Port >

 

In the past 5 years, in terms of the annual cargo volume scale of Incheon Port per foreign port, the top 5 ports were all ports in China, Shanghai Port, Qingdao Port, Weihai Port, Shekou Port and Dalian Port. As for Shanghai Port, there was a 10.5% increase in the annual average from 201,000 TEU in 2012 to 300,000 TEU in 2016. Followed by Qingdao Port with a 6.2% increase in the annual average from 214,000 TEU in 2012 to 272,000 TEU in 2016.

 

 

As of the cargo volume until September this year, the top 5 ports were Shanghai Port, Qingdao Port, Weihai Port, Shekou Port and Haiphong Port. Shanghai Port recorded 257,000 TEU, a 44,000 TEU increase from the same quarter in the previous year, maintaining its position as the biggest trading port of Incheon Port and Qingdao Port showed the biggest increase rate of 26.6% out of the top 5 ports with 242,000 TEU. As for Haiphong Port, Vietnam, there was a 26.1% increase rate in cargo volume from 85,000 TEU to 107,000 TEU in September’s cumulative last year. 

 

In addition, as for the top 5 ports in terms of increase rate of annual cargo volume to overseas ports above 100,000 TEU of cumulative cargo volume in the past 5 years, Haiphong Port, Ningbo Port, Ho Chi Minh Port, Bangkok Port and Kaohsiung Port, indicating a strength in South East Asian port. Haiphong Port (Vietnam) showed an increase rate of 30.4% in the annual average from 42,000 TEU in 2012 to 122,000 TEU in 2016. Followed by Ningbo Port (China), it showed an increase rate of 19.8% in the annual average from 52,000 EU in 2012 to 107,000 TEU in 2016. Ho Chi Minh (Vietnam), Bangkok (Thailand) and Kaohsiung Port (Taiwan) recorded an increase rate of 18.8%, 17.9%, and 14.7% respective in the annual average. 

 

 

 

 

 

 

 

 

 

Statistics table such as current status of cargo volume and others

 

Reference 1 Total container volume in September (Unit: TEU, %)

 

Item

2016

2017

Increase and decrease amount compared to previous year/rate

Sept.

Cumulative

Sept.

Cumulative

Same month

Cumulative

Total

221,727

1,912,268

265,134

2,250,682

43,407

19.6

338,414

17.7

Import

116,398

986,880

134,221

1,124,465

17,823

15.3

137,585

13.9

Export

103,343

907,329

128,635

1,065,400

25,292

24.5

158,071

17.4

Trans-

shipment

1,296

10,980

1,663

16,809

367

28.3

5,829

53.1

Coast

691

7,079

615

44,008

76

11.0

36,929

521.7

 

Reference 2 Container volume per import and export in 3rd quarter (Unit: TEU, %)

 

Item

Cargo volume

Compared to previous year

3rd quarter in 2016

3rd quarter in 2017

Increase and decrease amount

Increase and decrease amount

Total

674,509

781,036

106,527

15.8

Import

348,529

393,375

44,846

12.9

Export

319,908

381,011

61,104

19.1

Transshipment

3,793

4,743

950

25.0

Coast

2,280

1,907

373

16.4

 

Reference 3 Container volume per country in the 3rd quarter (Unit: TEU, %, based on increase and decrease amount)

 

Item

Cargo volume

Compared to previous year

3rd quarter in 2016

3rd quarter in 2017

Increase and decrease amount

Increase and decrease amount

Total

674,509

781,036

106,527

15.8

Increase

China

392,951

470,114

77,163

19.6

Thailand

25,196

35,191

9,995

39.7

Iran

6,065

11,821

5,756

94.9

Vietnam

64,932

68,767

3,836

5.9

Decrease

Taiwan

29,933

27,227

2,707

9.0

Mexico

2,113

670

1,443

68.3

 

 

 

Reference 4 Container volume per annual quarterly term (Unit: 1,000 TEU, %)

 

Item

2014

2015

2016

2017

Total

2,335

2,377

2,680

 

1st quarter

521

539

580

698

2nd quarter

604

599

658

772

3rd quarter

603

602

675

781

4th quarter

606

638

767

 

 

 

 

Reference 5 Top10 overseas port in terms of cargo volume in 5 years

(Unit: 1,000TEU, %)

 

Item

2012

2013

2014

2015

2016

Average increase and decrease rate

Shanghai

201

231

254

268

300

10.5

Qingdao

214

239

271

245

272

6.2

Weihai

116

118

119

131

143

5.2

Shekou

81

93

114

120

138

14.2

Dalian

72

92

83

87

94

6.9

Hong Kong

78

86

94

84

81

1.1

Ningbo

52

58

83

99

107

19.8

Haiphong

42

56

76

96

122

30.4

Tianjin

91

66

58

80

92

0.3

Yantai

62

65

73

70

76

5.2

 

Reference 6 Top 10 overseas port for cumulative cargo volume in September 2017 

(Unit: 1,000TEU, %)

 

Item

Cumulative in Sept. 2016

Cumulative in Sept. 2017

Increase Amount

Increase rate

Shanghai

212

257

44

20.9

Qingdao

191

242

51

26.6

Shekou

99

115

16

16.0

Weihai

99

115

15

15.4

Haiphong

85

107

22

26.1

Ningbo

77

106

29

38.3

Tianjin

66

81

15

22.6

Dalian

64

74

10

16.0

Ho Chi Minh

63

67

4

5.5

Hong Kong

59

64

4

7.2

 

Reference 7 Top 10 overseas port for increase rate of cargo volume in the past 5 years  

(Unit: 1,000TEU, %)

 

Item

2012

2013

2014

2015

2016

Average increase and decrease rate

Haiphong

42

56

76

96

122

30.4

Ningbo

52

58

83

99

107

19.8

Ho Chi Minh

44

52

58

75

88

18.8

Bangkok

22

25

31

41

43

17.9

Kaohsung

22

29

34

37

38

14.7

Shekou

81

93

114

120

138

14.2

Shanghai

201

231

254

268

300

10.5

Port Klang

25

36

37

34

37

9.6

Qinhuangdao

26

30

39

33

35

7.6

Shidao

43

47

51

47

56

7.1

Note) Ports with cumulative cargo volume of above 100,000 TEU in the past 5 years

 

 

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