Incheon Port Reaches 2.5 Million TEU Milestone

Container cargo volumes at South Korea’s Incheon Port exceeded 2.5 million TEUs for the first time ever.

With this trend going, Incheon Port is expected to handle a total of 2.68 million TEU container volumes by the end of this year, representing a 12% increase from last year’s 2.37 million TEU.

“Container volumes on a steady increase at Incheon Port are attributable to the efforts for negotiations, cargo volumes and developing new routes to improve service quality through joint efforts made by the IPA, the related governmental authorities, such as port, quarantine and customs authorities, and the private port-related organizations like port operators among others,” Incheon Port Authority (IPA) said.

Incheon Port’s cargo volumes have been on a steady increase since reaching 1 million TEUs for the first time in 2005 when the IPA was established. The IPA reached 2.5 million TEUs in three years after hitting 2 million TEUs in 2013. Incheon Port aims to achieve 3 million TEUs in 2018.

China, the largest trading partner of Incheon Port, was the country that led an increase in Incheon Port’s cargo volumes this year, according to IPA. Cargo volumes for trade with China stood at 1.5 million TEUs by December 15, which is an increase of 10% from the previous year.

In the same period, the IPA saw 25.2% increase in cargoes for trade with Vietnam compared to the previous year by handling 220,000 TEUs. Taiwan, the United States and Iran also recorded 96,000 TEUs, 19,000 TEUs and 9,000 TEUs, respectively.

Incheon Port currently offers 45 routes, including three routes to the Americas, the Middle East and Africa.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

The Smart Ship Exchange

The Exchange will look at the issues involved with increasing autonomy in shipping with an introduction to the concept…

read more >

Electric & Hybrid Marine World Expo Conference 2019

Electric & Hybrid Marine World Expo Conference is the world’s only international conference…

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >