Incheon Port Surpasses 3 Million TEU Container Throughput This Year... Fastest Record Ever

Incheon Port Authority (IPA) announced on the 7th that the cumulative container throughput at Incheon Port surpassed 3 million TEUs (1 TEU equals one 20-foot container) on the 6th of this year.

This record is 11 days faster than last year, when the 3 million TEU milestone was reached on November 17, the fastest ever before.

Incheon Port first exceeded 3 million TEUs in annual throughput in 2017 and has recorded over 3 million TEUs for eight consecutive years up to this year.

Incheon Port Container Terminal [Provided by Incheon Port Authority]

IPA explained that despite adverse domestic and international conditions such as sluggish domestic private consumption, changes in maritime freight rates due to worsening conflicts in the Middle East, and a decrease in used car cargo compared to last year, Incheon Port's throughput increased evenly across all sectors including exports, imports, and transshipment.

By export item, throughput increases were notable in machinery, miscellaneous goods, textiles, and plastics and rubber products, while imports saw growth in electronic devices, lumber, plastics and rubber products, and miscellaneous goods.

This year, IPA attracted new export cargo volumes such as office furniture, agricultural products (paprika), and e-commerce through port sales activities linked with overseas offices in Shanghai, Ho Chi Minh, and others. Additionally, IPA revitalized overseas port sales activities, which had been difficult to pursue since the COVID-19 pandemic, actively promoting Incheon Port’s new logistics environment not only in China, Vietnam, and Singapore but also in Germany and France.

IPA plans to actively promote marketing activities targeting shipping lines and cargo owners together with container operators to achieve the annual throughput goal of 3.5 million TEUs set for this year.

Lee Kyung-gyu, President of IPA, said, "Next year, we will expand cargo volumes and routes between Korea and China and strengthen port sales targeting 'Next China' regions such as India and Indonesia. We will do our best to establish a stable foundation for increasing throughput."