12% Growth in Vessels and Cargoes till May

Inbound and outbound vessels and cargoes have grown by 12 percent resp
ectively, thanks to an acceleration in the Korean domestic economy. Th
e ministry of maritime affairs and fisheries (MOMAF) has reported that
vessels and cargoes moved in all the ports of Korea totalled 38,449,
up 12% over the same period of last year, and 343,075,000 tons, an in
crease of 11.6 percent that of last year, respectively.
Inbound cargoes mostly consisted of raw materials like crude oil, whic
h are necessary components of production processes. Finished products
like petrochemical goods led the trend of outbound cargoes. Building m
aterials like sand and cement dominated costal cargoes, explained by t
he revival in the domestic construction business after a long depressi
on.