[May. 2^nd, 2017. Incheon, Korea]

 As Incheon Port recorded 700,000 TEUs in the first quarter, which is up 20.3% from a year ago, it is expected to achieve its goal of posting 3 million TEUs.

Incheon Port Authority (www.icpa.or.kr) announced that Incheon Port recorded 697,606 TEUs in the first quarter, which is up 20.3% from a year ago when it posted 579,826 TEUs year-on-year. As the logistical environment of Incheon Port is improved on the back of full opening of New Incheon Port, operation of LCL Bonded Warehouse and establishment of Temporary Container Storage by the end of this year, IPA forecast that the quantity of containers transported is expected to keep growing.

According to IPA, the quantity of imported containers it recorded 339,615 TEUs that accounted for 48.7% of the entire quantity of that in the first quarter, which is up 41,502 TEUs year-on-year, and it posted 312, 118 TEUs in the quantity of exported containers, which is up 36,959 TEUs from a year ago. The quantity of transshipment and coastal cargo posted 5,828 TEUs and 40,046 TEUs, respectively.

By country, trades with China posted 401,595 TEUs, up 18.1% (61,517 TEUs) from a year ago. Main trading items included textile fabric for spinning and weaving, miscellaneous goods and electrical devices, and imported and exported containers were increased by 26,794 TEUs and 33,585 TEUs, respectively. The quantity of containers transported to Vietnam recorded 16,143 TEUs, up 33.1% year-on-year, and it appears due to the trading effects generated from investment in Vietnam such as installation of production bases by Korea’s manufacturers.

By region, trades with the Far East including China posted 465,975 TEUs, up 12.7% (52,337 TEUs) year-on-year. The quantity of containers transported to the Southeast Asia posted 137,876 TEUs, up 19.4% (22,385 TEUs). On the other hand, the quantity of containers transported to Japan and Oceania down 3,276TEUs (20.9%) and down 586TEU (49.7%) respectively.

Main items to increase include textile fabric for spinning and weaving, miscellaneous goods, cars and their components, and 15 items among a total of 32 items saw trade volume growing.

In the meantime, the quantity of bulk cargoes transported in the first quarter recorded 32.55 million tons (RT), up 3.3% year-on-year.

Imports accounted for 64.1% of the entire cargoes by posting 20.87 million tons, up 5.3% year-on-year. Exports accounted for 3.25 million tons of the entire cargoes, up 12.3% year-on-year. On the other hand, coastal cargoes accounted for 25.9% of the entire cargoes, down 4.0% from a year ago.

Items that induced growing bulk cargoes included petroleum gas (accounted for 27.6%), up 680,000 tons from a year ago, and steel (accounted for 5.3%) up 250,000 tons from a year ago. The quantity of petroleum gas transportation was increased on the back of rising demand for LNG in the winter in the beginning of the year, and that of steel transportation grew on the strength of importation from China and Japan.