Increased transshipment cargo tows South Korean container traffic in February

Port of Busan

The Korean Ministry of Land, Transport and Maritime Affairs (MLTM) announced that the estimated total containerized cargo volumes through major Korean ports increased to 1,702,000 TEU in February, up by 3.3% from 1,648,000 TEU for the same period in 2012.

Among them, import / export cargo traffic recorded 994,000 TEU, decreasing 4.3%. However the transshipment cargo volume expanded to 687,000 TEU, jumping by 20.4% compared with the same period in 2012.

Although the cargo traffic for China and America, two major trading partners, was weak, the transshipment volume at Busan Port countervailed the total volume.

Meanwhile the offshore cargo traffic dramatically dwindled to 22,000 TEU, down by 44.3% compared with February last year. The offshore cargo has one after another decreased every month.

Port by port, traffic at Busan Port, the biggest port in South Korea, climbed by 5.2% to 1,304,000 TEU compared with the same period in 2012.

Among the figures, the transshipment cargo volume soared to 650,000 TEU, up by 19.7% over the same period last year. The increased transshipment cargo volume was affected by the Chinese New Year holiday, making the favorable increases merely a seasonal bonus.

Container cargo traffic at Gwangyang Port also rose to 162,000 TEU, increasing 7.3% from last year. Transshipment cargo volumes soared by 33.5% to 35,000 TEU.

Cargo traffic at Incheon Port was up by 4.9% to 139,000 TEU. This result came from increased trade volume with China, Vietnam, and Thailand. < 김보람 기자 brkim@ksg.co.kr >