South Korea' Port Freight Handling Volume Down 9.4%
Major ports witnessed consecutive fall in annual level of freight
South Korea’ port freight handling volume declined 9.4% year-on-year in May, since the global economic slump adversely affected the trade, Yonhapnews quoted, citing a government report.
According to the Ministry of Land, Transport and Maritime Affairs, freight handled by the country’ major ports of Busan, Incheon and Gwangyang fell 18%, 10.1% and 21.6%, respectively, in May, as compared to the corresponding period a year ago.
Shipments of autos, sand and natural minerals showed double digits decline, even though the volume of trade for chemical products jumped 16%.
The Korean Ministry said that container traffic, measured in 20-foot equivalent units, reached 1.32 million units in May, a 16.2% drop from the previous year.
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