[Sejong=Asia Economy Reporter Kwon Haeyoung] Last month, the volume of export and import cargo handled at national trade ports increased by 8.9% compared to a year ago, driven by overcoming COVID-19 and expectations of economic recovery.
According to the Ministry of Oceans and Fisheries on the 22nd, the volume of export and import cargo in May was recorded at 111.6 million tons, an 8.9% increase from the same period last year (102.48 million tons).
Coastal cargo volume increased by 2.3% to 19.5 million tons from 19.05 million tons in the same period last year, due to increased volumes of cement and ore. Including this, a total of 131.1 million tons were handled at national ports last month, a 7.9% increase from 121.53 million tons in the same period last year.
The total export and import container volume handled at national ports last month was 1.51 million TEU (1 TEU equals one 20-foot container), a 14.1% increase from 1.33 million TEU in the same period last year. Exports increased by 13.2% to 750,000 TEU, and imports rose by 15% to 760,000 TEU. The sharp increase of 56.5% in trade with the United States had a significant impact. Transshipment volume was recorded at 1.11 million TEU, up 7.5%.
Among major ports, Busan Port saw the largest increase in cargo volume. Busan Port handled 2.001 million TEU, a 14.6% increase from the same period last year. Export and import cargo volume increased by 23.7% to 927,000 TEU as cargo volumes from the top 10 countries including China, the United States, and Japan all increased. Transshipment volume was recorded at 1.073 million TEU, up 7.7%.
Incheon Port's cargo volume increased by 3.7% to 294,000 TEU compared to the same period last year. The increase in cargo volume on routes to China and Vietnam, which were established last year, continued. At Gwangyang Port, export and import volumes decreased due to route consolidations such as the discontinuation of the Middle East route following HMM's joining of the international shipping alliance THE Alliance, resulting in an overall cargo volume decrease of 2.6% to 178,000 TEU compared to last year.
Including these, the total container cargo volume handled at national ports last year was 2.63 million TEU, an 11.2% increase from 2.37 million TEU in the same period last year.
Last month, the volume of non-container cargo was 85.08 million tons, a 2.9% increase from 82.7 million tons in the same period last year.
By port, Pyeongtaek-Dangjin Port handled 7.85 million tons, an 11.7% increase, supported by increased volumes of ore and automobiles. Gwangyang Port recorded 21.61 million tons, a 4.7% increase from the same period last year, due to the recovery of steel product exports such as iron and scrap metal. Incheon Port handled 8.1 million tons, a 1% increase, driven by increased volumes of petroleum and automobiles. However, Ulsan Port handled 15.02 million tons, a 1.4% decrease from the same period last year, as the significant decrease in crude oil import volume offset the increase in automobile export volumes including SUVs and eco-friendly vehicles.
Looking at non-container cargo volume by item, automobiles increased by 58.6% to 6.8 million tons compared to the same period last year. Conversely, thermal coal decreased by 6.7% to 9.58 million tons. Ore decreased by 2.1% to 10.64 million tons, and petroleum decreased by 0.4% to 38.13 million tons.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
