Container throughput at S Korean ports up 11.2 pc in May to 2.6m TEU

Posted by Dynasty

SOUTH Korean seaports handled a total of 2.63 million TEU in May, an 11.2 per cent rise on the 2.37 million TEU throughput in the same month last year.

The data from the Ministry of Oceans and Fisheries is yet another sign of a recovery in trade from the economic fallout of the new coronavirus pandemic, reports Yonhap News Agency.

The ministry attributed the growth to the Covid-19 vaccine rollout around the globe and the economic stimulus measures from major countries.

Processed export-import container cargo jumped 14.1 per cent year on year to reach 1.51 million TEU last month. Export cargo increased 13.2 per cent to 750,000 TEU, and imports also advanced 15 per cent to 760,000 TEU.

South Korea’s exports have been gathering ground for seven consecutive months on the back of the global economic recovery. Outbound shipments also rose 29.5 per cent year on year in the first 20 days of June on the back of robust demand for chips.