Incheon Port's 'Container' Cargo Volume Hits Record High Last Year... Notable Increase in US and China Traffic

A Record 3,558,455 TEU Achieved, Up 2.8% from 2023

Last year, the container throughput at Incheon Port exceeded 3.55 million TEU, marking an all-time high.

The Incheon Port Authority (IPA) announced on the 3rd that despite adverse conditions such as sluggish domestic private consumption and changes in maritime freight rates due to worsening conflicts in the Middle East, the container throughput at Incheon Port last year was recorded at 3,558,455 TEU (1 TEU equals one 20-foot container), a 2.8% increase compared to 2023. This is about 100,000 TEU more than the previous record of 3,461,362 TEU set in 2023.

Last year’s container throughput consisted of 1,772,061 TEU in imports and 1,737,129 TEU in exports, increasing by 2.0% and 3.7% respectively compared to 2023, while transshipment volume was recorded at 49,265 TEU.

The export share by country was China 66.0%, Vietnam 8.4%, Taiwan 3.6%, Hong Kong 2.5%, and Malaysia 2.0%, in that order. Container exports to these top five countries accounted for 82.5% of total export volume. The import share by country was China 56.2%, Vietnam 13.4%, Thailand 6.1%, Indonesia 3.2%, and the United States 3.2%, with container imports from these countries making up 82.1% of total import volume.

Notably, the major trading partners that showed significant increases in container throughput at Incheon Port last year were China and the United States, with increases of 124,186 TEU and 11,197 TEU respectively.

Incheon New Port Container Terminal. Provided by Incheon Port Authority

To increase throughput at Incheon Port this year, IPA plans to expand overseas port sales targeting not only the Americas and China but also Malaysia, Indonesia, India, Taiwan, and Japan. Joint marketing efforts will also be promoted through business consultations with local container operators, cargo owners, and shipping companies, as well as joint briefings with Incheon terminal operators and domestic shipping companies.

Lee Kyung-gyu, President of IPA, said, "Despite adverse factors such as soaring maritime freight rates from the Middle East and intensified US-China trade disputes last year, we achieved the highest container throughput record thanks to the efforts of related organizations and groups at Incheon Port. Although this year’s domestic and international environment remains challenging due to exchange rate instability, worsening domestic demand, and tariff policies under the second Trump administration, we will actively strive to achieve our target of 3.6 million TEU."