After Work Commencement Order, Logistics Recovery... Busan Port Cargo Volume at 97% of Normal Levels
[Asia Economy Reporter Kwak Min-jae] The general strike by the Cargo Solidarity Headquarters of the Korean Public Service and Transport Workers' Union (Cargo Solidarity) has entered its 10th day, but cement and container cargo volumes are gradually recovering. Analysts suggest that the government's work commencement order is weakening the momentum of the Cargo Solidarity strike.
According to the Ministry of Land, Infrastructure and Transport on the 3rd, as of 10 a.m., the nationwide container import and export volume during nighttime hours (from 5 p.m. the previous day to 10 a.m. on the day) at 12 ports reached 82% of normal levels.
Before the work commencement order was issued to cement cargo drivers, the container import and export volume during nighttime hours on the night of the 28th of last month had fallen to 21%, but it has been gradually rising since the order was implemented.
At Busan Port, which has the largest volume of import and export, nighttime cargo volume rose to 97% of normal levels, effectively normalizing operations.
However, at Gwangyang Port, the import and export volume has remained at 0-3% of normal levels since the 25th of last month, indicating severe damage. From 5 p.m. the previous day to 10 a.m. on the day, the volume was only 4 TEU (1 TEU equals one 20-foot container).
Cement transportation volume recovered to 62% of the average level the previous day due to the work commencement order and increased vehicle load weight limits.
The petroleum industry continues to suffer damage from the general strike. According to the Ministry of Trade, Industry and Energy, as of 2 p.m. the previous day, there were a total of 60 gas stations nationwide out of fuel. The shortage of fuel at gas stations is spreading not only in the metropolitan area but also to Chungnam, Gangwon, and Chungbuk provinces.
The government is considering expanding the work commencement order to tanker trucks. The Ministry of Industry and the petroleum industry held a working-level preparatory meeting for the work commencement order the previous day, and the government plans to hold an emergency Cabinet meeting to issue additional work commencement orders if the situation worsens.
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
- "Am I Really in the Top 30%?" and "Worried About My Girlfriend in the Bottom 70%"... Buzz Over High Oil Price Relief Fund
- "It Has Now Crossed Borders": No Vaccine or Treatment as Bundibugyo Ebola Variant Spreads [Reading Science]
Meanwhile, the government maintains the position that talks with Cargo Solidarity are unnecessary until the collective transport refusal is withdrawn, and dialogue between the two sides remains suspended.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.