Korea's container throughput crosses 20m mark
Tuesday, 31 January 2012 | 11:00
South Korea's annual volume of cargo handling at domestic ports attained the highest level in 2011 by recording 1.3 billion tonnes, reported Maeil Business Newspaper.
In addition, the nation's volume of container cargo handling reached 21.55 million TEUs, crossing the 20-million TEU landmark for the first time.
The cargo volume handled at domestic seaports gained 8.1 percent on-year from 1.2 billion tonnes to 1.3 billion tonnes in 2011, according to a report of the Ministry of Land, Transport, and Maritime Affairs.
By port, the port throughput at Busan, Ulsan, and Pyeongtaek-Dangjin surged 11.9 percent, 12.9 percent, and 24.2 percent each, encouraged by an increase in both exports and imports of fibre, petroleum products, and steel products. However, the volume of cargo at Incheon Port declined 1.7 percent due to a drop in import and export volume of sand, cement, and grains.
The annual container cargo volume processed at domestic ports last year rose 11.3 percent from a year earlier to 21,551,000 TEUs. Korea is the fourth country worldwide after China, the US, and Singapore to exceed the 20-million TEU landmark in terms of container cargo handling volume.
The volume of export-import cargo and coastal cargo at domestic ports gained 8.2 percent and 25 percent, respectively, year-on-year, to 13,359,000 TEUs and 473,000 TEUs each last year. The volume of transhipment reached 7,720,000 TEUs, up 16.2 percent from the previous year due to an increase in the volume of transhipment at Busan Port, showing steep growth after last year's 15.9 percent.
The cargo handling volume at Busan Port, the nation's largest port, rose 14 percent from a year earlier to 16,175,000 TEUs last year. Particularly, Busan Port processed the largest volume of shipment (144,000 TEUs) in July on a monthly basis since its opening.
In December 2011, the volume of cargo handled nationwide surged 10 percent to 1,875,000 TEUs last year, and the volume of transhipment during the same period in domestic ports recorded 681,000 TEUs, up 22.4 percent from the previous year, posting a two-digit growth for 10 straight months.