Due to the Impact of COVID-19... Port Cargo Volume for Exports and Imports Down 9.9% in the First Half of This Year

Cargo Volume by Major Ports in the First Half of 2020 (Unit: 10,000 tons, %)

[Sejong=Asia Economy Reporter Joo Sang-don] Due to the impact of the novel coronavirus infection (COVID-19), port cargo volume in the first half of this year decreased by nearly 8%. In particular, export-import cargo volume fell by 9.9%.

According to the Ministry of Oceans and Fisheries on the 21st, the total port cargo volume handled at national trade ports in the first half of 2020 was 744.21 million tons, down 7.8% compared to the same period last year (807.47 million tons). Export-import cargo volume was recorded at 634.03 million tons, a 9.9% decrease from the same period last year (703.54 million tons), as demand for automobiles and thermal coal sharply declined due to the ongoing impact of COVID-19. On the other hand, coastal cargo volume increased by 6.0% to 110.18 million tons compared to 103.93 million tons in the same period last year.

The container handling volume at national ports in the first half of the year recorded 14.24 million TEU, down 2.6% from 14.62 million TEU in the same period last year due to the impact of COVID-19. Among these, export-import cargo volume was 8.06 million TEU, a 3.7% decrease compared to the same period last year. The Ministry of Oceans and Fisheries viewed that despite China's economic reopening and increased trade volume with Southeast Asian countries, the global decline in trade volume caused by COVID-19 led to poor container export-import cargo handling performance.

Regarding transshipment cargo volume, at Busan Port, the increase in empty container (gongcon) transshipment led the overall transshipment cargo increase of 1.3%. At Incheon Port, transshipment cargo volume slightly increased due to the opening of new routes, but the decrease in cargo volume at Gwangyang Port (-44%) due to alliance service restructuring expanded, resulting in an overall transshipment cargo volume of 6.09 million TEU, down 0.9% compared to the same period last year.

Kim Jun-seok, Director of the Shipping and Logistics Bureau at the Ministry of Oceans and Fisheries, said, "The impact of COVID-19 continues, and export-import cargo volume is understood to be experiencing a significant decline." He added, "As difficult conditions are expected in the second half of the year as well, we will steadily implement support policies in the shipping and port sectors, such as reducing port facility usage fees and providing emergency management funds."

This content was produced with the assistance of AI translation services.