Incheon Port Handled 2.68M TEUs of Container Cargos in 2016

By Curious

The total volume of container cargos transported via Incheon Port last year recorded 2,679,700 TEUs.

Incheon Port Authority (IPA), announced on January 26 that the total volume of container cargos transported via Incheon Port last year recorded 2,679,700 TEUs, a 12.7 percent (0.3M TEUs) increase from 2.38M TEUs in 2015.

The figure was a result from continuous increase of cargos volume in three months after reaching 250,000 TEUs in October which was the first figure surpassing 250,000 TEU, 253,000 TEUs in November, and 263,000 TEUs in December last year. (More detailed information you can find here)

Incheon Port Handled 2.68M TEUs of Container Cargos in 2016

Among the total container cargos in 2016, imported goods recorded 1,373,587 TEUs, which increased by 12.2 percent compared to the last year. Export cargos amounted to 1,281,155 TEUs, which increased by 13.7 percent from a year ago. Volumes of transshipment and coastal transportation recorded 15,669 TEUs and 9,290 TEUs, respectively.

By country, the imported cargos related to China increased by 12.8 percent recorded 794,659 TEUs and that to Vietnam recorded 134,659 TEUs by increasing 22.7 percent, and that to Taiwan recorded 36,920 TEUs by increasing 38 percent. On the other hand, the imported cargos related to Hong Kong decreased by 17 percent recorded 35,477 TEUs and that to Romania recorded 6,740 TEUs by decreasing 39.8 percent respectively.

The share of imports by country was 57.9% in China, 9.8% in Vietnam,, 6.1% in Thailand, 3.6% in Indonesia, and 3.2% in Japan. Container imports from these countries accounted for 80.7% of total imports.

By country, the exported cargos related to China increased by 9.5 percent recorded 791,189 TEUs and that to Vietnam recorded 105,736 TEUs by increasing 34.2 percent, and that to Taiwan recorded 65,447 TEUs by increasing 32 percent. On the contrary, the exported container shipment related to Thailand decreased by 11.6 percent recorded 23,031 TEUs and that to Russia recorded 272 TEUs by decreasing 89.1 percent respectively.

The share of exports by country was 61.8% in China, followed by Vietnam with 8.3 %m Taiwan with 5.1%, Hong Kong with 3.6 % and Malaysia with 2.1%. These countries accounted for 80.8% of total exports.

According to IPA, various organizations such as the quarantine and customs and private companies like Terminal Operating Company (TOC) cooperated with each other to improve the service and made efforts to attract cargos volume and new routes

In addition, this was also a result of marketing that links shippers to shipping companies through analysis of logistics channel of high-value-added frozen refrigerated goods such as livestock products, and fruits and bulk handling such as grain, feed, discarded paper, and scrap iron.

In particular, IPA has plan to provide higher level port and logistics services by constructing logistics center for LCL(Less than one Container Load cargos), and a parking lot for freight trucks at Incheon New Port, and by providing 24hours regular shipment service and empty container - return service at night.

Yang Jang-seok, vice president of IPA said, “The Hanjin Incheon Container Terminal (HJIT) successfully opened last year in Incheon New Port and container cargos volume of Incheon Port recorded the highest score by attracting cargos from China and Vietnam where the FTA was enacted.” He added, “We are trying to accomplish our challenging goal, handling 3M TEUs container cargos this year at an early stage by actively supporting an entire opening of Incheon New Port.

Source: Incheon Port Authority