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Container cargo volume climbs 4.7 pct in June

The volume of container cargoes handled by South Korean seaports in June this year will rise 4.7 percent on-year to log 1.87 million TEU(twenty-foot equivalent unit), revealed the Ministry of Land, Transport, and Maritime Affairs(MLTM) Import and export cargoes are estimated to climb 4.1 percent to reach 1.15 million TEU, while transshipment cargos will climb 7.2 percent to 0.69 million TEU.

Transshipment cargoes, which have been recording a double-digit growth for 14 straight months since February last year, are believed to slow to post a single-digit growth for the first time in 15 months this June. Europe’s debt crisis has caused China’s cargo volume to shrink drastically, the explanation goes.

Busan Port, the largest port in Korea, saw its container cargo volume rise 5.3 percent on-year to 1.43 million TEU, while transshipment cargo grew 7.0 percent to 0.66 million TEU. The fall in cargo volume at the northern Chinese seaports such as Tianjin and Dalian caused transshipment figures to dip, say experts.

Gwangyang Port posted a cargo volume of 172,000 TEU, up 8.8 percent, on increasing exports and imports to and from China, the U.S. and Russia. The cargo volume at Incheon Port declined 0.5 percent to 162,000 TEU, said the MLTM.

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