July Port Cargo Volume Up 14%... "Strong Exports of Cars and Steel"

MOF "New Supply of Temporary Storage for Export Cargo"

Incheon Port Container Terminal. (Photo by Asia Economy DB)

[Sejong=Asia Economy Reporter Moon Chaeseok] Last month, the volume of cargo handled at nationwide trade ports increased by 12.9% compared to July of the previous year, reaching 137.19 million tons. The volume of import and export cargo increased by 14%. The government has decided to newly supply temporary storage facilities for export cargo.

On the 22nd, the Ministry of Oceans and Fisheries announced that the volume of import and export cargo last month (118.3 million tons) increased by 14% compared to the same month last year (103.8 million tons), due to increased exports of eco-friendly vehicles, vehicle parts, and steel products. Coastal cargo volume was recorded at 18.89 million tons, a 6.9% increase from the previous year (17.68 million tons), influenced by increased volumes of thermal coal, cement, and others.

The total cargo volume handled at nationwide trade ports was 137.19 million tons, a 12.9% increase from the same month last year (121.48 million tons).

Last month, the nationwide container cargo volume was 2.58 million TEU, a 7.2% increase from the same month last year (2.4 million TEU). One TEU represents one 20-foot container. Import and export volume was recorded at 1.46 million TEU, a 4.7% increase. Exports reached 740,000 TEU, a 1.5% increase. In particular, the volume of import and export with the United States, a major trading partner, increased by 31.7%, significantly impacting the container volume.

Transshipment handled a total of 1.11 million TEU, a 10.6% increase from the same period last year (1 million TEU).

By major ports, Busan Port handled 1.951 million TEU, a 10.5% increase from the same month last year. The volume of import and export with the United States increased by 33.4%, improving container performance. Incheon Port handled 281,000 TEU, a 4.8% decrease from July of the previous year, influenced by a decrease in import and export volume with China. Gwangyang Port handled 185,000 TEU, a 4.7% increase from the same month last year.

Last month, the nationwide non-container cargo volume was 91.63 million tons, a 14% increase from the same month last year (80.4 million tons). By major ports, Gwangyang Port handled 22.9 million tons, a 10.1% increase; Ulsan Port handled 15.78 million tons, a 4.6% increase; Incheon Port handled 9.37 million tons, a 32.5% increase; and Pyeongtaek-Dangjin Port handled 8.42 million tons, an 18.1% increase.

By item, petroleum products such as crude oil, refined petroleum products, and petroleum gas increased by 11.6% to 40.42 million tons handled at nationwide trade ports. Thermal coal increased by 20% to 12.79 million tons, ore increased by 4.9% to 11.78 million tons, and automobiles increased by 28.4% to 6.86 million tons.

Park Young-ho, Director of Port Logistics Planning at the Ministry of Oceans and Fisheries, said, "Although the volume of import and export cargo is increasing, the shortage of storage yards is causing difficulties for export shippers. We will newly supply a temporary storage facility for export cargo with an area of 10,000㎡ and capacity of 1,900 TEU around Bukhang Uam Pier this month, and next month, we plan to expand the temporary storage facility (40,000㎡, 1,400 TEU) currently operating in the hinterland of Shinhang Seocon." He added, "We will continue to monitor terminal storage rates to prevent worsening difficulties for export shippers and ensure that cargo does not accumulate."

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