Incheon Port Authority Holds Meeting with Seven Bulk Terminal Operators to Boost Bulk Cargo Attraction

On July 30, Incheon Port Authority (IPA) held a meeting with representatives of bulk terminal operators at Incheon Port and agreed to work together to increase the volume of bulk cargo (cargo not transported by containers).

The meeting, organized in cooperation with the Incheon Port Logistics Association, was held to discuss ways to recover the volume of bulk cargo at Incheon Port, which has been continuously declining recently. The event was attended by representatives and branch managers of seven bulk terminal operating companies that manage bulk terminals at Incheon Inner Port and North Port. They discussed cooperation measures to increase the volume of bulk cargo and shared difficulties related to port operations.

Plans are in place to strengthen the competitiveness of Incheon Port in attracting bulk cargo by expanding the attraction of special cargo such as steel raw materials and fly ash (a cement blending material made from coal ash used as fuel in thermal power plants), securing additional yards for automobiles, steel, and calcium chloride, and improving factors that hinder the efficiency of stevedoring services.

The participants also discussed possible incentive payments for attracting new bulk cargo.

View of Incheon Inner Port. Incheon Port Authority

According to IPA, due to the relocation of manufacturing companies in the metropolitan area to other regions, as well as the transportation of bulk cargo by containers, the volume of bulk cargo at Incheon Inner Port and North Port has decreased by an average of 4.3% per year over the past four years. In the first half of this year, the volume decreased by 5.6% compared to the same period last year, making immediate response and effective measures urgently necessary.

At North Port, 5.49 million tons of bulk cargo were handled last year, a decrease of 15.5% compared to 2023. At Inner Port, 14.22 million tons were processed last year, aided by the attraction of Jeju Samdasoo and global transshipment automobiles, but this was still a 3.1% decrease compared to 2023.

Kim Sangki, Executive Vice President of Operations at IPA, stated, "Through this meeting, we plan to strengthen the cooperation system to expand bulk cargo attraction and resolve on-site difficulties," adding, "We will continue to communicate and respond actively to achieve tangible results."