South Korean cargo growth recorded
Cargo processed at ports in South Korea was up 4.1% year-on-year in 2017, Yonhap News Agency said that data from the country’s Ministry of Oceans and Fisheries showed.
The total amount of sea cargo that year hit 1.57bn tonnes, with automobile shipments displaying the highest growth at 14.4%.
These were followed by soft coal shipments at 11.6% growth and machinery shipments at 8.3% growth respectively, according to Yonhap News Agency.
Additionally, container freight went up by 5.4% – to 27.42m teu – and non-containerised cargo increased 1.7% year-on-year to 1.09bn tonnes.
However, cargo traffic of sand and steel fell 35.9% and 12.8% respectively.
Despite this, shipments from South Korea to its biggest trading partner, China, increased 9%, while shipments to the US went up by 6.7%, aided by brisk memory chip and petrochemical product exports.
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