Incheon Port's Q3 box throughput rises 12pc to 670,000 TEU

SOUTH Korea's Incheon Port handled 670,000 TEU in the third quarter, representing a 12.1 per cent increase over the same period a year earlier. Year-to-date, the port handled 1.91 million TEU.
 
According to data from Incheon Port Authority, imports stood at 348,528 TEU in the third quarter and accounted for 51.7 per cent of the total, up 12.1 per cent year on year. Export cargo amounted to 319,908 TEU, up 12.7 per cent, reported St Petersburg?s PortNews.    
 
By country, container shipments to and from China rose 8.3 per cent to 392,951 TEU, and trade with Vietnam increased by 33.3 per cent to 64,932 TEU.
 
The growth was attributed to the positive impact of the Korea-China free trade agreement and the Korea-Vietnam FTA that took effect last year.    
 
Cargo exported to or imported from Southeast Asia amounted to 131,265 TEU, up 16.3 per cent year on year. On the other hand, shipments related to Europe dropped to 7,933 TEU, down 28.2 per cent due to the swift decline in timber imports from Romania.    
 
Meanwhile, bulk cargo volume transported during the third quarter dropped by nine per cent to 27 million.