[Getty Images Bank]
[Getty Images Bank]

Instability in the Middle East and a drop in energy cargo weighed on South Korea's national port throughput in the second quarter, pushing volumes below last year's levels. Container traffic, however, reversed course and showed signs of recovery.

The Ministry of Oceans and Fisheries said Thursday that cargo handled at the country's trade ports totaled 375.95 million tons in the second quarter, down 4.8 percent from the same period last year.

Import and export cargo fell 5.6 percent to 318.01 million tons, while coastal cargo slipped 0.3 percent to 57.94 million tons.

Non-container freight drove the overall decline, dropping 9.4 percent year-on-year to 230.36 million tons. Oil products fell 18.6 percent, chemical industrial goods declined 16.6 percent, and ore shipments were down 3.8 percent.

Vehicle and auto parts cargo bucked the trend, rising 4.3 percent, while bituminous coal surged 15.8 percent.

Container throughput showed a recovery. Second-quarter volume reached 8.32 million TEUs, up 0.6 percent from a year earlier — reversing a 1.2 percent decline recorded in the first quarter.

June container throughput was particularly strong, reaching 2.83 million TEUs, a 6.4 percent increase from the same month last year.

Import and export container volume came in at 4.5 million TEUs, down 0.9 percent, as gains from China and Japan were offset by declines in cargo from the Middle East, the United States and Vietnam.

Transshipment volume, meanwhile, rose 2.2 percent to 3.78 million TEUs, driven by increased cargo from Europe and China.

By port, Busan handled 6.46 million TEUs, up 0.5 percent from a year ago, as growth in European and Chinese transshipment offset a drop in US-bound cargo. Incheon rose 1.9 percent to 900,000 TEUs, while Gwangyang fell 4.2 percent to 510,000 TEUs due to a decline in transshipment volume.

Non-container freight declined at most major ports. Gwangyang fell 17.0 percent, Ulsan 17.9 percent, Incheon 15.7 percent, Daesan 10.7 percent, and Pyeongtaek-Dangjin 4.8 percent.

Oceans and Fisheries Minister Hwang Jong-woo said second-quarter port volumes fell mainly in non-container freight due to disruptions in global logistics and energy markets caused by the war in the Middle East, but added that the month-by-month rate of decline has been gradually easing. "Container freight has shifted to a growth trend and is serving as a pillar supporting overall cargo volume," he said.

Hwang added that uncertainty in import and export logistics is expected to persist in the second half of the year due to the prolonged war in the Middle East and US tariff measures. "We will work closely with relevant agencies to ensure stable maritime and port logistics operations," he said.


adastra@heraldcorp.com