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S. Korea's seaport cargo up 0.6% in Q1

April 25, 2022 - 11:28 By Yonhap

Shipping containers are placed at Busan port, April 1. (Yonhap)
Cargo processed at South Korean seaports inched up 0.6 percent in the first quarter of this year, the oceans ministry has said.

Cargo handled at the country's ports came to 389 million tons in the January-March period, compared with 386.76 million tons the previous year, according to the Ministry of Oceans and Fisheries.

Handling of export-import cargo, however, fell 0.7 percent on-year to 331.21 million tons in the first quarter.

The decrease came as trade volume with China and Japan fell 5.2 percent and 2.4 percent, respectively, during the cited period, which offset a 9.4 percent growth in the volume of trade with the United States, the ministry data showed.

Container cargo processed at the seaports decreased 1.3 percent on-year to come to 7.23 million twenty-foot equivalent units (TEUs) in the January-March period. Of the total, processed export-import container cargo fell 3.2 percent on-year to stand at 4.13 million TEUs in the cited period, the ministry said.

But South Korea's handling of transshipment cargo, or cargo processed here en route to final destinations, edged up 1.3 percent on-year to 3.06 million TEUs, the data showed.

Non-container cargo handled at the ports also rose 1.5 percent from the previous year to 262.57 million tons in the first quarter, the ministry said.

By item, cargo of iron ore and vehicles fell 9.9 percent and 5.0 percent, respectively, in the January-March period, while that of oil advanced 5.2 percent.

"Solid exports helped keep our cargo volume stable despite the prolonged pandemic and logistics disruptions at major ports across the globe. The government will strive to minimize potential impacts of the ongoing antivirus shutdown in Shanghai and other Chinese cities on our logistics," a ministry official said.

South Korea's exports posted double-digit growth for the 13th month in a row in March, the industry ministry said. (Yonhap)