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The monthly volume of container cargo handled at South Korea's ports in November climbed 8.8 percent on-year to 1.81 million TEUs, according to the Ministry of Land, Transport and Maritime Affairs (MLTM), reported MaeilBusiness Newspaper.
Import and export cargo rose 2.7 percent from the previous year, to 1.11 million TEUs. The transhipment cargo gained 23.8 percent from a year earlier to post 672,000 TEUs. The transhipment cargo has been maintaining a two-digit growth rate.
The port throughput of Korea's largest Busan Port recorded 1.38 million TEUs, up 14.3 percent from the previous year. Import and export cargo at Busan airport expanded 6.4 percent to 721,000 TEUs, largely encouraged by increased trade with the US. Busan processed 652,000 TEUs of transhipment cargo, up 24.4 percent, as more global shippers are taking Busan Port as their Asian base, and China's worsening weather condition is inducing shippers to look for an alternative port that would handle their transhipment cargo.
The total container volume handled at Gwangyang Port gained 0.3 percent to 161,000 TEUs, and that in Incheon Port contracted four percent to top out at 170,000 TEUs.
With continued growth in the volume and cases of transhipment cargo, the MLTM projected that Korea will attain the largest port throughput ever as Busan Port is expected to post 1.62 million TEUs and the entire domestic ports are estimated to record 2.15 million TEUs by the end of the year.
Cargonews Asia
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