Press Release

Incheon Port records the highest monthly volume in history with 248,000 TEU in January container volume

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2018.02.28. 229

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Incheon Port, after recording the highest container volume in history by handling 3,048,000 TEU in 2017, has achieved a new record in the Januarys container volume.  

 

Incheon Port Authority (www.icpa.or.kr, CEO Nam Bong Hyeon) revealed on the 27th that the container volume handled in Incheon port in January showed the highest achievement. It recorded 247,812 TEU, a 0.5% increase compared to 246,527 TEU* processed in the same month in the previous year.

 

* TEU (Twenty-feet Equivalent Unit) 1 20 feet container box

 

Out of the Incheon Ports container volume in January, import took up 51.7% of the total volume with 128,007 TEU. It is an increase of approximately 6,000 TEU compared to the same month in the previous year. Export increased by approximately 12,000 TEU with 117,157 TEU compared to the same month in the previous year and the transshipment and coastal volume were 2,071 TEU and 577 TEU respectively. 

Per country, volume to Iran increased by 97.3% (2,675 TEU) with 5,423 TEU and 20.3% (1,755 TEU) with 10,317 TEU to China. Volume to Japan showed an increase rate of 47.6% (1,533 TEU) with 4,752 TEU.  

Looking at the key product items of increase, miscellaneous goods showed the biggest increase with 22.4% (101,000 RT) compared to the same month in the previous year with 552,000 RT* while chemical industry products increased by 63.2% (60,000 RT) with 115,000 RT and non-ferrous metal by 39.7% (20,000 RT) with 71,000 RT. Out of 31 product items handled, the container volume showed increase in 25 product items.  

 

* RT (Revenue Tons) Refers to the revenue ton that refers to the standard for claiming ocean freight charge and as for the freight charge with regards to carriage of goods, the weight or volume, whichever with the higher freight is chosen.  

The favorable condition in the import and export economy of the domestic metropolitan region is assumed to be the main cause for the renewal of the maximum monthly volume of Incheon Port each time along with the opening of Incheon New Port in June 2015. From September 2015 to January this year, Incheon Port has been renewing the maximum monthly container volume with more than 10% increase rate on the average for 29 months except for 2 months.  

 

Kim Jong Gil, the director of Incheon Ports Logistics Strategy Bureau stated that Following the increase of container volume, we will work hard so that this years target of 3.3 million TEU in a year can be achieved and that Since this year has been proclaimed as the first year of establishment of Incheon Ports ocean route, we will concentrate on the marketing required for additional establishment of ocean route such as attracting frozen and refrigerated cargo following the Australia sea route service which was newly established in January last year.

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