SOUTH Korea's Incheon port handled 2.14 million TEU in the first six months of the year, an increase of 8.8 per cent over the same period in 2015, according to Incheon Port Authority (IPA).
Throughput at Incheon surges 8.8pc to 1.24 million TEU SOUTH Korea's Incheon port handled 2.14 million TEU in the first six months of the year, an increase of 8.8 per cent over the same period in 2015, according to Incheon Port Authority (IPA). The quantity of containers handled at the port has been increasing 5.9 per cent on average since 2013 when it first surpassed the mark of one million TEU by posting 1.04 million TEU in the first half of that year, the Colchester's Seatrade Maritime News reported. Said IPA president Yoo Chang-kuen: "The Hanjin Incheon Container Terminal (HJIT) opened this year in Incheon New Port, leading to a high rise in container shipments. In particular, the growth of shipment volume in July soared, which is likely to drive shipment to reach 1.5 million TEU in early August." Most of Incheon port's container volumes are driven by seaborne trade with neighbouring China, which accounted for 732,953 TEU of throughput in the first half. Vietnam is another significant trade partner, which accounted for 105,182 TEU. The IPA believes that volumes brought about by China and Vietnam are expected to continue increasing due to the free trade agreements signed last year with the two Asian countries.