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Incheon box volume up 16pc in August to record 254,000 TEU

SOUTH KOREA's port of Incheon handled a record 254,000 TEU in August, representing an increase of 16.1 per cent compared to the same month in 2016.

Container volumes have been consistently setting new monthly records over an 18 month-period since the opening of Incheon New Port's Hanjin Incheon Container Terminal (HJIT), a statement released by Incheon Port Authority (IPA) said.

August's import container volume totalled 129,058 TEU, an increase of 14,810 TEU compared to August 2016, and accounted for 50.7 per cent of total throughput. Export container volume amounted to 123,556 TEU, up 20,522 TEU compared to the same month the previous year. Transshipment and coastal container volumes amounted to 1,244 TEU and 633 TEU respectively.

As per country, trade volume to China rose 21.4 per cent year on year to reach 152,813 TEU in August, while trade volume to Iran rose by a massive 175.1 per cent to 6,318 TEU. In addition, trade volume to Thailand rose by 32.3 per cent to reach 12,031 TEU.

According to IPA, the top five countries with the highest annual container traffic passing through the port over the past five years were China, Vietnam, Thailand, Taiwan and Hong Kong. As for China, the annual average volume rose by 7.3 per cent from 1.2 million TEU in 2012 to 1.6 million TEU last year. Vietnam showed an increase rate of 25.6 per cent from 97,000 TEU in 2012 to 242,000 TEU last year.

The top five countries until August this year was equivalent to other years, and the increase rate of container volume to China was 19.4 per cent and the increase rate of Vietnam was 15.9 per cent. It increased 10.5 per cent, 16.8 per cent and 3.3 per cent for Thailand, Taiwan and Hong Kong respectively.

As for the Middle East route, which was established in June last year, the average per voyage (container volume that is loaded and unloaded in one voyage) was 1,000 TEU last year but this year, it increased by 72 per cent to 1,800 TEU.

On the American route, the average container volume per voyage, which was just 600 TEU last year, increased by 70 per cent to up to 1,000 TEU this year.

Source: Schednet

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