April Port Container Cargo Volume Up 5.7%... "Managing 'Con' Freight Rates"

US Export and Import Increase... Non-Container Cargo Volume Also Up 3.1%

[Sejong=Asia Economy Reporter Moon Chaeseok] Last month, the container cargo volume handled by ports nationwide increased by 5.7% compared to April of the previous year. The government stated that it will prepare for rising container freight rates, logistics congestion, and vessel space shortages.

National port container cargo volume. (Source: Ministry of Oceans and Fisheries)

The Ministry of Oceans and Fisheries announced on the 23rd that last month's container cargo volume was recorded at 2.58 million TEU, a 5.7% increase from 2.44 million TEU in the same month last year. One TEU refers to one 20-foot container. The export-import container cargo volume was 1.48 million TEU, up 6.3% from 1.39 million TEU in the same period last year. Exports increased by 8% to 720,000 TEU, and imports rose by 4.8% to 760,000 TEU. This was influenced by a 9.3% increase in exports and imports with the United States, a major trading partner.

Transshipment cargo volume, which involves transferring containers to other vessels for transportation, was 2.58 million TEU, a 5.7% increase from 2.44 million TEU in the same period last year. By port, Busan Port increased by 6.6% to 1.95 million TEU, Incheon Port rose by 6.4% to 295,000 TEU, while Gwangyang Port decreased by 2.9% to 177,000 TEU.

Park Young-ho, head of the Port Logistics Planning Division at the Ministry of Oceans and Fisheries, said, "Recently, the global container logistics congestion and vessel space shortages have had a chain reaction, affecting domestic port terminals as well. We will continuously monitor container occupancy rates and port cargo flow to ensure smooth export cargo handling and do our best in terminal management."

National Port Non-Container Cargo Volume. (Source: Ministry of Oceans and Fisheries)

Last month, the non-container cargo volume at ports nationwide was 85.42 million tons, a 3.1% increase from 82.88 million tons in the same period last year. By port, Gwangyang Port handled 20.86 million tons, up 9.8%, and Incheon Port processed 8.92 million tons, up 5.7%, but Ulsan Port saw a 7.2% decrease to 15.10 million tons, and Pyeongtaek-Dangjin Port handled 8.09 million tons, down 5.6%.

By item, major non-container traded goods such as petroleum and thermal coal decreased by 2.4% and 11.7%, respectively, compared to the same period last year. Petroleum was handled at 36.13 million tons due to a decrease in crude oil and petroleum product exports and imports at Gwangyang and Ulsan Ports. Thermal coal was handled at 8.67 million tons due to reduced imports at Taean and Hadong Ports, where thermal power plants are located.

National trade port cargo throughput. (Source: Ministry of Oceans and Fisheries)

Last month, the total cargo volume handled at national trade ports was 130.92 million tons, a 6.6% increase from 122.77 million tons in the same period last year. Export-import cargo volume increased by 7.4% to 111.67 million tons, and coastal cargo volume rose by 2.5% to 19.25 million tons. Park said, "Although economic uncertainties due to COVID-19 remain, the expansion of vaccine distribution and active economic stimulus measures by major countries are increasing export-import cargo volumes."

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