11.8% reduction in sea-cargoes last year

Import and export cargoes by sea recorded sharp drops last year.

According to a report released by the Korea Shipowner’s Association (KSA) on March 8, total import and export sea cargoes totaled 466.11 million tons last year, an 11.8% decrease from 528.64 million tons the previous year.

Export cargoes amounted to 135.3 million tons, stepping down 9.7% from 144.52 million tons 2000. Import cargoes shrank by 12.6% to 335.58 million tons from 384.12 million tons during the same period.

An official at the KSA explained that total cargoes shrank as the sluggish global economy affected raw material imports.

Southeast Asian trade, responsible for about 30% of total cargoes, decreased by 9.4% to 143.87 million ton, and Middle Eastern trade also fell by 11.5% to 115.78 million tons.

Cargoes bound for the US, Europe, and Africa also suffered between 30% and 40% declines.

Trade with Japan, however, increased 5.7% to 42.11 million ton. Japan was the only region where cargoes increased.

In the mean while, import and export container cargoes declined by 4.1% to 4.82 million TEU from 5.03 million TEU in 2000.