Port of Incheon Volume to Reach 3.08 million TEU

The Container Handing Volume by the Republic of Korea's Port of Incheon is expected to reach 3.08 million TEU in 2017, said a company release.

News ID: 75718

Date: 19 August 2017 - 12:29

On August 3, the Incheon Port Authority (IPA) announced that its container handling volume for the second half of the year would be 1.61 million TEU, totaling 3.08 million TEU for 2017, MANA correspondent reported.

According to the ‘Analysis of 2017 Container Volume for the First Half and Estimation for the Second Half’ performed by the IPA based on the performances during the first half and current trends, it is expected to reach up to 3.08 million TEU, 14.9% increase from the prior year.

Recently, the Port of Incheon has revealed continued increase in trading volume. During the first half, it handled 1.47 million TEU and is forecasted to cope with 1.61 million TEU in the second half because container handling volume is usually higher in the second half than in the first half. In fact, the percentage of the trading volume for the second half to the first half has continuously increased (7.3-16.5%) since 2013.

In addition, empowered by the ongoing record-breaking pace renewing the highest monthly trading volume for 16 consecutive months starting March last year, the IPA is expected to reach 2 million TEU by September, one month earlier than the prior year.

Nam Bong-hyun, President of the IPA, said “I’d like to thank the owners of goods who use the Port of Incheon and all people working for the Port of Incheon including the terminal operating companies (TOC), shipping companies, CIQ and port transport union that have been fully supportive in the development of the Port of Incheon and attraction of container volume”.

He continued, “We are going to keep working hard to improve port logistics services and increase container trading volume”.