The Incheon Port Authority (www.icpa.or.kr, President Lee Kyung-gyu) announced on the 25th that Incheon Port handled 307,787 TEU last month, marking a 22.1% increase compared to the same month last year, setting a record for the highest September* container traffic ever.

* The previous highest container volume in September was 287,339 TEU in September 2020.

According to IPA, last month's import volume was 153,026 TEU, and export volume was 150,608 TEU, showing respective increases of 19.9% and 25.5% compared to the same month last year, and transshipment volume recorded 4,153 TEU.

Container import volume by country showed significant increases, with China at 83,603 TEU, the United States at 4,875 TEU, and Taiwan at 4,560 TEU, showing respective increases of 9,933 TEU (13.5%), 3,469 TEU (246.6%), and 2,833 TEU (164.0%), compared to the same month last year.

The proportion of imports by country was as follows: China 54.6%, Vietnam 14.0%, Thailand 6.2%, and the United States 3.2%. The container volume imported from these four countries accounted for 78.0% of the total import volume.

Container export volume by country showed significant increases, with China at 94,987 TEU, Vietnam at 12,850 TEU, and Libya at 1,987 TEU, showing respective increases of 13,424 TEU (16.5%), 2,071 TEU (19.2%), and 1,955 TEU (6,109.4%).

The export share by country was China 63.1%, Vietnam 8.5%, Taiwan 2.3%, and Malaysia 2.1%, and the container volume exported to these four countries accounted for 76.0% of the total export volume.

IPA attributes the rapid increase in cargo volume last month to the notable rise in container cargo volume for exported used cars, associated with the export of used cars, coupled with the subsequent return of empty containers for loading automotive items. Furthermore, this surge is seen as being influenced by robust import activities from both China and Vietnam.

Furthermore, upon examining the cumulative customs declaration data from January of this year to last month, it was observed that out of the total 44,000 used cars exported from Incheon Port last month, approximately 37,000, or 83.2%, were transported by container ships. This has led to the return of empty containers for loading used cars to Incheon Port, positively impacting the overall increase in container traffic.

In addition, while Chinese import volumes experienced a decline of 6.7% and 5.7% in July and August, respectively, compared to the corresponding months in the previous year, there was a notable increase of 14.7% last month. Similarly, Vietnam's import volume, which saw only a 2.9% rise in August compared to the same period last year, exhibited a substantial increase of 15.8% last month.

With the rising cargo volume from China and Vietnam, which has previously been sluggish, IPA intends to leverage this momentum to reinvigorate the marketing functions of its overseas offices. The strategy involves promoting local port sales and providing support for the development of overseas sales channels.

Furthermore, IPA is strategically directing attention to the revitalization of used car exports. Special emphasis will be placed on shipping marketing activities in the Middle East and Africa. Additionally, plans include conducting Incheon Port briefing sessions for industrial complexes in the South Chungcheong region and establishing direct contact with individual companies. These initiatives aim to strengthen marketing strategies tailored to shippers in these regions.

An Incheon Port Authority official said, “We are truly grateful to the users of Incheon Port, including shipping companies, logistics companies, and shippers, for their active engagement despite challenging business conditions, such as the slow recovery of the global economy,” and added, “We remain steadfast in our commitment to enhance the logistics environment and ensure a seamless experience for Incheon Port users, eliminating any inconveniences in its utilization,” he said.