1Q Port Container Throughput Up 1.3%... "Improvement in Shipping Logistics Expected This Year"

[Sejong=Asia Economy Reporter Kwon Haeyoung] The volume of container cargo handled at ports in the first quarter of this year increased by 1.3% compared to the same period last year. This is attributed to the increase in export and import volumes due to active economic stimulus measures in major countries such as the United States and China.

The Ministry of Oceans and Fisheries announced on the 22nd that the container cargo volume handled at national trade ports in the first quarter of this year was recorded at 7.29 million TEU, a 1.3% increase from 7.19 million TEU in the same period last year, due to the rise in export and import volumes. Additionally, the total port cargo volume handled at national trade ports in the first quarter was 383.13 million tons, a 0.8% decrease compared to 386.29 million tons in the same period last year.

Although the volume of bituminous coal and crude oil exports and imports decreased due to carbon dioxide reduction policies, the increase in iron ore imports and the strong export performance of eco-friendly vehicles such as electric cars led to an increase in automobile cargo volume. As a result, the total export and import cargo volume was slightly up by 0.5% from 329.36 million tons in the same period last year to 331.05 million tons.

Coastal cargo volume decreased by 8.5% compared to 56.93 million tons in the same period last year, totaling 52.08 million tons, due to reduced demand for petroleum products, ores, and steel products, which have a high share in transportation volume.

In March, the total port cargo volume was 135.87 million tons, a 1.3% increase compared to 134.13 million tons in the same month last year. Among these, export and import cargo volume totaled 117.08 million tons, a 2.1% increase from 114.68 million tons in the same month last year, maintaining an upward trend for two consecutive months.

By port, Busan Port, Gwangyang Port, and Incheon Port increased by 3.1%, 3.4%, and 1.2% respectively compared to the same period last year, while Ulsan Port decreased by 11.2% compared to the same period last year.

Among the container cargo volume handled at national ports in the first quarter, export and import recorded 4.24 million TEU, a 4.5% increase from 4.06 million TEU in the same period last year. Exports were 2.12 million TEU (up 3.9%) and imports were 2.12 million TEU (up 5.2%). By country, the increase in exports and imports with China, a major trading partner, was notable at 16.5%. Transshipment recorded 3.00 million TEU, a 2.8% decrease from 3.08 million TEU in the same period last year.

Non-container cargo volume in the first quarter totaled 255.61 million tons, a 3.1% decrease from 263.84 million tons in the same period last year. By individual ports, Gwangyang Port and Pyeongtaek-Dangjin Port increased, while Ulsan Port and Incheon Port decreased. By item, petroleum products (crude oil, petroleum refined products, petroleum gas, etc.) and bituminous coal, which account for the largest share, decreased by 6.2% and 5.2% respectively compared to the same period last year. Ore and automobiles increased by 7.9% and 15.4% respectively compared to the same period last year.

Park Young-ho, Director of Port Logistics Planning at the Ministry of Oceans and Fisheries, said, "It is encouraging that container export and import cargo volumes increased compared to the first quarter of last year. This year, with the distribution of COVID-19 vaccines and active economic stimulus measures by major countries, the shipping logistics industry is expected to improve. We will actively respond to this and maintain an appropriate equipment rate within terminals to ensure smooth export and import cargo handling."

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