Port cargo surfs record wave for 3rd month

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Port cargo surfs record wave for 3rd month

Container cargo volume at domestic seaports reached an all-time high in May due to strong growth of trade and trans-shipment cargo, the Ministry of Land, Transport and Maritime Affairs said yesterday.

Total volume stood at two million 20-foot-equivalent units (TEUs) last month, up 7.3 percent from last May, the ministry said. It marked the third consecutive time that a new monthly record had been set.

The amount of trans-shipment cargo, which refers to cargo passing through Korea while en route to a final destination, surged 16.8 percent on-year to 670,000 TEUs, it said.

The amount of import-export cargo rose 3.1 percent from a year earlier to 1.19 million TEUs, while the volume of domestic cargo dropped 31.1 percent to 282,000 TEUs.

In the first five months of the year, local ports processed 9.32 million TEUs, up 6.3 percent from 8.76 million units during the same period last year.

The amount of cargo, measured by weight, also rose 3.1 percent to 556.37 million tons in the January-May period, according to the ministry.

By port, the country’s largest port in Busan processed 7.1 million TEUs in the first five months of the year, up 9 percent from the same period last year.
Yonhap

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