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IPA Targets 3.5 Million TEUs at Incheon Port in 2022

Incheon Port Authority (IPA) announced on Jan. 13 that its container handling target for this year is set at 3.5 million TEUs.

Container handling at Incheon Port topped 3 million TEUs for the first time in 2017 and has since remained above the level for five consecutive years.

In 2022, Incheon Port plans to promote a route diversification by stabilizing the routes to the Americas and opening services to Southwest Asia (India). It also aims to enhance port connectivity by expanding the number of ports of call.

The IPA initially expected an increase of about 3 percent in container volume this year, based on a survey of logistics companies. But it now forecasts a larger increase as the logistics congestion and a shortage of vessels is expected to gradually ease, expanding services for Incheon Port’s main market, the Intra Asia market.

In addition, IPA plans to secure demand in advance before starting the operation of the e-commerce and cold chain special zones through a marketing campaign towards shipping companies and shippers. The hinterland complex of New Incheon Port started operations in earnest last year.

“Global logistics congestion is expected to ignite difficulties in the export, import, and port logistics industries for the time being,” said Kim Jong-gil, vice president of the Operation Division at IPA. “But we will make endeavors with Incheon Port workers to attain the goal of reaching 3.5 million TEUs in 2022.”
Source: Business Korea

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