IPA Hits Best-Ever Monthly Container Flow Volume in August

President Lee Kyung-gyu of Incheon Port Authority (IPA). (Photos: IPA)

Incheon Port Authority (IPA) handled 301,013 TEUs in container traffic volumes in August, a 5.7 percent rise over the same month of 2023.

The figure represents the best-ever monthly container flow volume as container traffic volumes topped 300,000 TEUs for the first time in history, IPA said on Sept. 24.

The previous best-ever container traffic volume was set at 284,667 TEUs in August 2023.

The container traffic volume for August consisted of 245,392TEU in export shipment volumes and 152,679 TEUs in import flow volumes, representing an 8.2 year-on-year surge and a 4.5 percent year-on-year increase, respectively.

Transshipment traffic volumes stood at 2,942TEU, IPA said.

Customs stat figures showed that Incheon Port saw 40,993 second-hand car exports, showing a rise in the second consecutive month from 38,013 second-hand car exports in July.

They found that 3,3972 cars or 82.9 percent of the total, were delivered in container flow volumes.

IPA interpreted the best-ever monthly container shipment as rising container traffic volumes, caused by declining sea shipping rates after the early July, the recovery of a second-hand car export rise, rising imports from China and repositioning of vacant containers.

Each country’s comparison of container cargo exports showed that China topped a list of top trading partners with 99,553 TEU, followed by Taiwan, which logged 6,546 TEU.

The figures represented a 20.6 year-on-year jump over the same period of last year with 16,985 TEU and a 72.4 percent year-on-year surge, respectively.

As to each country’s portion of exports, China came first with 68.5 percent, followed by Vietnam with 8.3 percent, Taiwan with 4.5 percent, Hong Kong with 2.6 percent and Malaysia with 1.8 percent.

The five countries accounted for 85.7 percent of the total export flow volumes.

Concerning each country’s container import traffic volumes, China came first with 83,235 TEUs, followed by Malaysia with 5,155 TEUs, and the United States with 4,613 TEUs.

The figures represented a 9.9 percent year-on-year rise over 7,479 TEUs during the same period of last year, a 37.7 percent year-on-year jump over 1,412 TEUs and a 25.8 percent year-on-year surge over 945 TEUs, respectively.

IPA Executive Vice President Kim Sang-ki in charge of operation said, “IPA extends thanks for efforts by people in Incheon Port, backwater areas and export and import fields despite the sultry heat in August.”

IPA will step up efforts to boost container traffic volumes by continuously visiting shipping companies, cargo owners and forwarders, holding publicity and explanation sessions and exploring Incheon Port’s mainstay export cargo categories, he added.

Incheon Port Authority hosted a fam tour inviting the global cruise liner MSC Cruises in cooperation with the Incheon Metropolitan City Government and Incheon Tourism Organization from Sept. 19 to Sept. 20. An official from MSC Cruises take a picture of Songdo Central Park in which he toured.

IPA Holds Familiarization Tour Targeting MSC Cruises

MSC Cruises, headquartered in Geneva, Switzerland, is the third biggest cruise line operator following Carnival Cruise Line and Roay Caribbean Line.

MSC Cruises owns 22 cruise ships and runs global cruise lines, such as ones in Europe, South America and Asia.

The latest fam tour was arranged following a B2B meeting with MSC Cruises held in July on the sidelines of the Jeju International Cruise Forum.