Press Release

Incheon Port’s ‘container’ volume in May increases by 8.0% compared to previous year

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2018.07.03. 207

(ipa press) 180628 인천항 5월 '컨' 물동량 전년대비 8.0% 증가_ eng.docx  doc파일 아이콘 (ipa press) 180628 인천항 5월 '컨' 물동량 전년대비 8.0% 증가_ eng.docx

○ Incheon Port’s container volume last month surpassed 270,000 TEU, renewing the highest volume in May in history. Furthermore, in April, it surpassed 265,847 TEU recording the highest monthly volume in history in the first half of the year.

 

○ According to Incheon Port Authority (www.icpa.or.kr, CEO Nam Bong Hyeon), Incheon Port’s container volume last month recorded 274,568 TEU, the highest figure in the May volume in history and it is a 8.0% increase compared to the 254,313 TEU in the same month last year. 

 

○ The import volume was 144,089 TEU which is a 15,355 TEU increase compared to the same month in the previous year, taking up 52.5% of the total volume. As for export, it increased by 4,840 TEU compared to the same month in the previous year with 127,359 TEU and as for trans-shipment and coastal cargo volume, it recorded 2,503 TEU and 618 TEU respectively. 

 

○ Per country, trade volume to China recorded 168,009 TEU which is a 4.7% increase compared to the 160,470 TEU in the same month in the previous year and as for the volume to Vietnam, 23,167 TEU was processed which is a 20.1% increase. 

 

○ Furthermore, the volume to Thailand was 12,098 TEU which is a 3,279 TEU increase from 8,819 TEU in the same month in the previous year, marking a 37.2% increase. 

 

○ As for the main products of increase, vehicle and parts showed an increase rate of 220.0% (331,000 RT*) compared to the same month in the previous year in 452,000 RT while electrical devices increased by 30.5% (174,000 RT) with 745,000 RT and 7.2% (102,000 RT) for weaving fiber with 1,505,000 RT. Out of 29 products handled in total, the volume of 23 products increased and in the majority of products, continuous growth was seen.  

 

*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 the higher freight is chosen.

 

○ The key reason for increase in volume is assumed to be the obvious increase in the volume to China, Vietnam and Thailand which are the 3 major trade countries for the container products as well as a reasonable consumption demand in metropolitan region. A total of 230 container vessels embarked in May and the TEU per fleet increased by 4.4% compared to the same month in the previous year with an average of 984 TEU.    

 

○ Kim Jong Gil, the director of Incheon Port’s Logistics Strategy Bureau stated that “With the stable operation of South East Asia and North America sea route services at Incheon Port, the handling amount of plastic, rubber products, electronic devices, beverages and alcohol and others have increased and last month, USA, Thailand and Singapore exhibited more than 30% of increase rate in volume” and that “In the second half of the year, we are expecting to reinforce the marketing activities for the establishment of new sea routes and we will endeavor to generate volume by attracting domestic and foreign global forwarders to the LCL Cluster in Incheon New Port’s hinterland.”

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