Incheon Port container volume up to 215,976 TEU in February 2018
Incheon Port Authority revealed on the 29th that the container volume handled by Incheon Port in February recorded the highest container volume in history followed by January with 215,976TEU. It increased by 11.9% compared to 193,040TEU of container volume in the same month last year.
As for Incheon Port’s container volume in February, import was 112,427TEU, taking up 52.1% of the entire volume. Compared to the same month last year, approximately 310,000TEU increased. As for export, it was 101,730 TEU, an increase of approximately 130,000TEU compared to the same month in the previous year. As for transshipment and coastal cargo volume, it recorded 1,366TEU and 453TEU respectively.
Per country, volume to China was 121,484TEU which is a 23.5% increase (23,133TEU) despite concerns for THAAD revenge and trade friction between America and China, pioneering the increase in the entire volume of Incheon Port. As for Vietnam, it also increased by 35.3% compared to the same month in the previous year with 23,421TEU.
Per region, it increased by 29.1% (32,968TEU) with 146,286TEU for Far East Asia, 23.3% (50,227TEU) with 40,720TEU for South East Asia. In addition, an increase of 33.3% (1,244TEU) was seen with 4,980TEU.
The main cause of increase in container volume last month is assumed to be the mitigation of trade volume reduction despite the long Spring Festival in China and stabilization effect of domestic economy following the North Korea’s x-confirmation to participate in the PyeongChang Olympic Winter Games in January.
A total of 212 fleets of full container vessels have come into Incheon Port in February which is an increase of 2 fleets compared to the same month in the previous year while the handling volume per fleet is average 911 TEU which is a 13.0% increase compared to the same month in the previous year.
Looking at the main product items of increase, other miscellaneous showed an increase rate of 48.5% (152,000RT) compared to the same month of the previous year with 465,000RT while vehicle and parts increased by 24.3% (330,000RT) with 171,000RT. Out of the 29 product items that have been handled, the volume increased in 25 product items and an increase in volume was seen in the majority of product items.
RT (Revenue Tons) Refers to the revenue ton that becomes the standard for ocean freight charge claim and with regards to freight charge with regards to the freight, in general, the bigger is used for calculation out of weight tonnage and measurement ton.