July Export and Import Cargo Volume 102.46 Million Tons... 17.2% Decrease YoY

Port Cargo Volume Decreases by 14.9% Compared to Last Year

Cargo Volume by Major Ports in July This Year (Unit: 10,000 tons)

[Sejong=Asia Economy Reporter Joo Sang-don] The volume of export and import cargo handled at national trade ports in July this year has decreased by more than 17%.

On the 20th, the Ministry of Oceans and Fisheries announced that last month's port cargo volume totaled 119.97 million tons, down 14.9% from the same month last year (140.9 million tons).

In particular, export and import cargo volume was recorded at 102.46 million tons, a 17.2% decrease compared to the same month last year (123.66 million tons), as the decline in industrial energy consumption led to reduced imports of power generation fuels (such as bituminous coal) and a decrease in loaded container transport volume.

Coastal cargo volume increased by 1.6% compared to the same month last year (17.24 million tons), handling a total of 17.51 million tons due to increased volumes of petroleum and ore.

Busan Port saw a 20.7% decrease in cargo volume compared to the same month last year, following a decline in container cargo weight (inbound goods) due to the global economic slowdown. Cargo volumes also decreased at Gwangyang Port (-8.8%), Ulsan Port (-7.4%), and Incheon Port (-11.3%).

By item, petroleum (crude oil, petroleum products, petroleum gas, etc.), ore, bituminous coal, and steel, which account for the largest shares, decreased by 8.1%, 10.6%, 21.9%, and 22.9% respectively compared to the same month last year.

In July, the container handling volume at national ports recorded 2.39 million TEU, down 4.9% from the same month last year (2.51 million TEU) due to the ongoing impact of the novel coronavirus disease (COVID-19). Export and import volumes decreased by 4.8% to 1.38 million TEU compared to the same month last year (1.45 million TEU), and transshipment volume decreased by 5.0% to 990,000 TEU compared to the same month last year (1.04 million TEU).

The cargo volume of the world's top 10 major container ports in the first half of 2020 continues to decline due to the impact of COVID-19. Shanghai Port maintained its position as the world's number one by handling 20.06 million TEU (-6.9% compared to the same period last year). It was followed by Singapore Port (17.84 million TEU, -1.8%), Ningbo-Zhoushan Port (13.25 million TEU, -4.7%), Shenzhen Port (11.07 million TEU, -10.8%), and Guangzhou Port (10.76 million TEU, -1.6%) ranking 2nd to 5th respectively. Busan Port, which was 5th in the same period last year (10.75 million TEU, -2.2%), ranked 6th globally, and Qingdao Port (10.34 million TEU, +0.3%) ranked 7th.

Kim Jun-seok, Director of the Shipping and Logistics Bureau at the Ministry of Oceans and Fisheries, said, "Due to the ongoing global economic recession caused by the spread of COVID-19, the decline in export and import cargo volume is expected to continue for the time being. We will continue to implement support policies in the shipping and port sectors, such as reducing port facility usage fees and providing emergency management funds, to help overcome these difficulties together without any setbacks."

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