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Incheon port handles higher box volumes in first quarter

Incheon port handles higher box volumes in first quarter
South Korea’s Incheon port has increased its container throughput in the first quarter of this year compared to the year-ago period, according to figures released by Incheon Port Authority (IPA).

Box volumes for the first three months of 2016 came up to 579,495 teu, a rise of 7.6% from 538,509 teu in the same period of 2015.

Incheon port’s container traffic with China grew by 8.1% to 340,062 teu, taking up more than half of the total throughput in the first quarter, figures from IPA showed.

The growth in volumes with China was due to an increase in imports from from China and an increase in handled cargoes through the process of relocating empty containers at Incheon port.

The trade volume with Vietnam, which is emerging as a new production base in Southeast Asia, reported 48,733 teu, a 12.7% increase from a year ago due to the result of Korean manufacturers’ investment in Vietnam.

In 2015, Incheon port moved a total throughput of 2.37m teu. This year, the port is targeting to handle 2.47m teu.