Incheon Port Sees Container Traffic Jump 16%
South Korea's Incheon Port has processed 254,000 TEU in August, beating by 16% its year-on-year monthly throughput.
Incheon Port Authority has recorded 254,000 TEU in container throughput for August, 2017, the highest ever in the August container volume for the port.
This is a 16.1% increase compared to the 219,291 TEU in August, 2016.
According to Incheon Port Authority (IPA), throughput grew alongside the opening of Incheon New Port’s Hanjin Incheon Container Terminal (HJIT).
Last month’s imported container volume was 129,058 TEU which was an increase of 14,810 TEU compared to the same month in the previous year.
As for exported container volume, it was 123,556 TEU, which is an increase of 20,522 TEU compared to the same month in the previous year.
Transshipment and coastal container volumes for the month were 1,244 TEU and 633 TEU respectively.
On the Middle East route, established in 2016, the average per-voyage container volume was 1,000 TEU last year, but this year, it increased by 72% with approximately 1,800 TEU and even for American routes, the average container volume per voyage which was merely 600 TEU last year increased up to 1,000 TEU 70% increase this year.
On a per-country basis for the month, the volumes sent to China recorded 152,813 TEU which is an crease of 21.4% compared to 125,841 TEU in the previous year and the volumes sent to Iran attracted attention with 6,318 TEU, a 175.1% increase.
In addition, the volumes sent to Thailand of 12,031 TEU showed an increase of 32.3%.
According to IPA, the top five countries with the highest annual container volume during the past five years were China, Vietnam, Thailand, Taiwan and Hong Kong. As for China, the annual average increased by 7.3% from 1.203,000 TEU in 2012 to 1.596 TEU in 2016.
On a yearly basis, Vietnam has showed an increase of 25.6% from 97,000 TEU in 2012 to 242,000 TEU last year.
So far, the annual average TEU of Thailand, Taiwan and Hong Kong has increased by 10.7%, 11.6% and 1.1% respectively.
Increased volumes to the top 5 countries on a year-on-year basis were on par with other years with the increase of container volume to China at 19.4% and to Vietnam was 15.9%. It increased by 10.5%, 16.8% and 3.3% for Thailand, Taiwan and Hong Kong respectively. Year-on-year container volume with major countries in South East Asia increased by 11.7%, leading the increase in container volume of Incheon Port together with China.
Kim Jong Gil, the director of Logistics Strategy Bureau at IPA said: “The fact that the choices of ship-owners and forwarders had broadened following the increase of route had a positive impact on the increase of container volume.
“Out of the 4 newly established route services this year, three of them are South East Asian routes and the increase rate of container volume with South East Asian countries have indicated to be high so we will continue to expand the container volume with the regions concerned”.