Press Release

The Port of Incheon’s container handling volume reaches 2 million TEU

PRESS RELEASE 게시글 보기
2017.09.11. 2205

20170907 the port of incheon’s container handling volume reaches 2 million teu.docx  doc파일 아이콘 20170907 the port of incheon’s container handling volume reaches 2 million teu.docx

[September 8, 2017, Incheon, Republic of Korea]

 The Incheon Port Authority (IPA) announced that it reached 2 million TEU on September 2 according to the imaginary aggregate of its container handling volume. Compared to last year when the landmark was hit on October 12, this year’s pace is 40 days faster.

 

According to the government agency, the Port of Incheon’s container handling volume reached 2 million TEU for the first time on December 6, 2013. Since then, the pace achieving the landmark has gotten faster every year: Nov. 10, 2014, Nov. 7, 2015 and Oct. 12, 2016.

 

The IPA said that the Port of Incheon has been able to reach 2 million TEU earlier every year because of increase in trade volume with China and Vietnam after the ROK-China FTA and ROK-Vietnam FTA. In addition, new port facilities with cutting-edge unloading systems such as SNCT and HJIT have opened since June 2015.

 

With increase in trade volume and new infrastructure, the Port of Incheon has opened new regular container lines covering China, Vietnam and Thailand this year: KHX (March), HP3 (June), TIS (July) and TVX (August). As a result, the trade volume with major countries such as China and Vietnam has dramatically increased from the prior year. Right now, the Port of Incheon has 49 regular container lines.

 

* KHX (Mar. 2017): Incheon – Gwangyang – Busan – Hong Kong – Hai Phong – Xiamen – Incheon

HP3 (Jun. 2017): Incheon – Shanghai – Hai Phong – Yantai – Hong Kong – Busan - Incheon

TIS (Jul. 2017): Incheon – Zhangjiagang – Taicang – Incheon

TVX (Aug. 2017): Incheon – Gwangyang – Busan – Ho Chi Minh – Laem Chabang – Bongkok – Laem Chabang – Ho Chi Minh – Incheon

 

Furthermore, the IPA has collaborated with container terminal operators, quarantine & customs clearance authority and port service businesses to provide better logistics environment and services. Such efforts have brought increase in trade volume.

 

It is forecasted that the IPA would enter the world’s top 40 container ports if it adds new container routes, and current favorable domestic and international economic conditions continue until the end of this year. Last year, the South Korean port handled the largest volume (2.68 million TEU, 1TEU = 20-foot container) in its history and ranked 57th, increase by 10 positions from 2015.

 

Kim Jong-gil, acting manager of Operating Division of the IPA, said, “Once the LCL Logistics Center which opened in July is facilitated, and the HJIT fully opens in November, the trade volume would further increase, and we would be able to reach 3 million TEU by the end of this year”. He continued, “We are going to keep making our best efforts to help the Port of Incheon fulfill its duty as a gateway to the capital region and hub port in Pan-West Sea Area through the development of infrastructure such as Incheon New Port hinterland and refrigeration cluster complex”.

 

 

 

List