Press Release

Incheon Port, recorded the highest quantity of goods transported in January in its history at 266,000TEU, an increase of 7.5% from the same period last year

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2019.03.18. 274

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 Incheon Port Authority (www.icpa.or.kr, President: Nam, Bong Hyeon) announced on the 4th that the quantity of containers processed through Incheon Port in January this year reached the highest level for the month of January in its history. The Port recorded the quantity of goods transported at 266,451TEU, which is an increase of 7.5% from 247,793TEU* for the same month last year.

 

* TEU (Twenty-feet Equivalent Unit): 1 box of 20 feet (approximately 6m)

sized container

 

 Among the quantity of goods transported through Incheon Port in January, import accounted for 52.6% of the total with 140,038TEU, which is an increase from the same month last year by 12,000TEU while export was 123,604TEU, an increase of 6,466TEU from the same month last year. The transshipment and coastal quantity of transportation were 2,172TEU and 637TEU, respectively.

 For each country, the quantity of transaction with China was 171,636TEU, which is an increase of 15.2% (22,616TEU) from the same period last year, and that with Vietnam was 27,939TEU, which is an increase of 14.6%(3,562TEU) from the same period last year.

 In terms of the key items of increase, textile products at 1,550,000RT* with an increase of 10.2% (144,000RT) from the same period last year, thereby displaying the greatest increase, followed by timber products at 224,000RT with increase by 103.4% (114,000RT) and plastic products at 249,000RT with increase by 73.5% (105,000RT). Among the total of 30 items handled, there was increase for 17 items.

 

* RT (Revenue Tons): Refers to the tonnage transported, which is the standards for the invoicing of maritime transportation charges. The transportation charge for goods is applied to the greater of the tonnage according to weight and tonnage according to volume of the corresponding cargo chosen as the tonnage being transported.

 The key reasons for the increase in the quantity of goods transported for January at Incheon Port included the increase in the quantity of import and export goods transported for countries such as China and Vietnam as the results of the New Years holiday effects, and activation of the NCT route that links Incheon-Dalian-Xingang-Qingdao-Hong Kong-Ho Chi Minh-Shekou, which was newly opened in November last year.

 Mr. Kim, Soon Cheol, the manager of the Global Logistics Strategy Department of Incheon Port Authority, stated that, our Authority will continue to put efforts to achieve the trend of increase in the quantity of goods transported recorded for January in order to achieve the annual target of this year at 3.25 million TEU, and that, for this purpose, we will be pursuing diversified and multifaceted marketing strategies to further increase the quantity of goods transported including expansion of the reduction in the fees charge for the use of the port facilities by ships sailing the ocean routes, overseas port sales marketing and enticement of major global shippers, etc.

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