THE Incheon Port Authority (IPA) announced on December 30, 2024, that the container throughput at Incheon Port had surpassed the annual target of 3.5 million TEU as of December 26.
According to the IPA, there were concerns about meeting the target as the throughput performance from September to November showed a slowdown compared to the same period last year.
However, on December 22, Incheon Port exceeded its previous record of 3.46 million TEU set last year, continuing its upward trend and surpassing 3.5 million TEU.
Achieving the 3.5 million TEU target for container throughput last year faced several challenges, according to BusinessKorea.
Firstly, due to merchant ships bypassing the Red Sea to avoid the Houthi rebels in Yemen, maritime freight rates surged from May to early July, resulting in a decrease in used car exports to the Mediterranean region from Incheon Port.
Additionally, domestic private consumption stagnation led to a decline in import cargo from September onwards.
Despite these challenging domestic and international conditions, the container throughput from Incheon Port's major trading partners, including China, Vietnam, Taiwan, and Hong Kong, showed robust growth.
As a result, Incheon Port is expected to record an increase of approximately 90 thousand TEU compared to last year.
SeaNews Turkey
According to the IPA, there were concerns about meeting the target as the throughput performance from September to November showed a slowdown compared to the same period last year.
However, on December 22, Incheon Port exceeded its previous record of 3.46 million TEU set last year, continuing its upward trend and surpassing 3.5 million TEU.
Achieving the 3.5 million TEU target for container throughput last year faced several challenges, according to BusinessKorea.
Firstly, due to merchant ships bypassing the Red Sea to avoid the Houthi rebels in Yemen, maritime freight rates surged from May to early July, resulting in a decrease in used car exports to the Mediterranean region from Incheon Port.
Additionally, domestic private consumption stagnation led to a decline in import cargo from September onwards.
Despite these challenging domestic and international conditions, the container throughput from Incheon Port's major trading partners, including China, Vietnam, Taiwan, and Hong Kong, showed robust growth.
As a result, Incheon Port is expected to record an increase of approximately 90 thousand TEU compared to last year.
SeaNews Turkey
