Korean port volumes grow in July

Several major Korean ports saw container volumes increase 10.6% in July compared to the same period a year ago. Korean ports handled a total of 111,710,000 TEU versus the 101,040,000 TEU seen twelve months earlier.

Port by port, Pyeongtaek°§Dangjin Logistics, Ulsan Port, Pohang Port have seen jumps in imports and exports of cargo for steel, oil, and iron ore, increasing by 34.2%, 30.2%, and 18% each, respectively. On the other hand, Incheon Port and Daesan Port volumes declined by 10% and 9.1%, with the finger of blame pointed at decreases in grain and oil trade.

By item, import and export volumes of oil, ore and cars soared by 17.6%, 18.7%, and 11.3%, respectively, however sand, cement and bituminous coal were down by 18.9%, 10.4%, and 9.5%, respectively, compared with last year.

Busan port, the biggest port in Korea, recorded 1,466,000 TEU, up 17%, especially in their transshipment cargos that grew 22.3% while some global liners called more often at the port. Busan Port is ranked as the 5th largest port in the world. Gwangyang Port, however, slid to 167,000 TEU, down 6.7% from the same period last year, but up 8% over last month. Meanwhile, volumes at Incheon Port were up 7.1% . <김보람 기자 brkim@ksg.co.kr>