Busan Port’s container cargo volume down for 4 consecutive months

Busan port’s container cargo trade volume has been on a downward trend for four consecutive months starting from last November, posting a 20.9 percent drop last month compared to the same period a year earlier.
In particular, Busan port’s high-value added transshipment cargo volume accounting for 43 percent of the total amount of the container cargo trade volume in the port made a sharp decline of 20.9 percent.
According to Busan Port Authority on March 26, the total container transport volume in the country’s largest port in February, this year accumulated to 81,395 TEU (1 TEU is equivalent to approximately one 20-feet container), which is a decrease of 20.9 percent when compared to the same period from the previous year.
In addition, the volume of container shipments transported in and out of Busan port stood at 459,635 TEU last month, posting a plummet of 20.9 percent year-on-year.
The total container transport volume in Busan port has been remained in the negative territory for four months until February this year, posting -9.4 percent last November, -19 percent last December, -24.3 percent and -17.4 percent in January and February, respectively, this year.