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Busan Port’s Cargo Volume Turns Upbeat in July by 5.5% YoY

BPA announced on 19 September that the downturn of container cargo volume at Busan Port started to turn around in July. According to the data released by BPA on the 22nd, Busan Port handled 1.697 million TEU, a 5.5% increase YoY(1.609 Mil.) in July. It has been four months since the cargo volume at Busan Port increased in February(1.8% increase).

Busan Port’s Cargo, Busan PortBPA announced on 19 September that the downturn of container cargo volume at Busan Port started to turn around in July. According to the data released by BPA on the 22nd, Busan Port handled 1.697 million TEU, a 5.5% increase YoY(1.609 Mil.) in July. It has been four months since the cargo volume at Busan Port increased in February(1.8% increase).

Busan Port’s Cargo,Busan PortThe cargo volume decrease is as follows; January(-1.6%), March(-2.9%), April(-5.2%), May(-1.0) and remained the same level in June. Import&Export container(0.832 million) increased 9.2% contributing to the total growth of cargo volume. Transshipment cargo also increased 2.1%(0.865 million). The total cargo volume by July(11.325 million) decreased 0.5% YoY. Import&Export cargo increased 1.3%(5.553 million) while T/S cargo decreased 2.1%(5.772 million).

A BPA official attributed the upturn to T/S cargo volume increase which was due to the deployment of larger sized vessels on the Asia~U.S. route since the opening of the Panama Canal. In addition, joining the 2M of Hyundai Merchant Marine played a positive role in increasing the cargo volume in July.

Cargo volumes at major global ports also grew 2.1% on average. However, cargo volume at Hongkong(-11.0%) and Dubai(-6.0%) ports dropped greatly while those of Shanghai(4.8%), Ningbo-Zhoushan(8.8%), Qingdao(3.2%), Guangzhou(7.2%) increased. The accumulated amount by July is as follows; Qingdao(3.8%), Ningbo-Zhoushan(3.6%), Guangzhou(5.2%) increased but Hongkong(-10.7%)and Singapore(-4.3%) decreased.

Source Macnet

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