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Traffic volume at Port of Busan in June up 8.8 percent on-year...growth for 4 months in a row

According to Yonhap News,

In June, cargo handled at the Port of Busan increased 8.9 percent compared to a year ago.

According to data compiled by the terminal operators at the Busan Port, the amount of containers handled at New Busan Port and 9 container piers at North Harbor climbed 8.8 percent on-year from 1.723 million TEU to 1.874 million TEU (1TEU refers a container of twenty-foot).

This upward trend has been maintained for four months since March this year.

The traffic volume of June also marks a slight increase from 1.848 million TEU in June, 2019-before the breakout of the COVID-19 pandemic.

Of them, cargo traffic of imports and exports recorded 847,111 TEU, up 12.9 percent from the last year of 749,669 TEU.

The volume of transshipment container traffic (when cargo or a container is moved from one vessel to another while in transit to its final destination) at Busan Port increased 5.5 percent from last year of 973,567 TEU to 1.027 million TEU.

Accordingly, the cumulative cargo traffic volume in the first half of this year reached 11.1531 million TEU, up 4.5 percent from10.674 million TEU in last year.

Busan Port Authority predicts that the total traffic volume of import/export container and transshipment will increase year-on-year by 2.3 percent and 4.2 percent, respectively.

Source Text

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Source:Yonhap News (July 7, 2021)

** This article was translated from Korean.