Nationwide Port Cargo Volume Down 4.8%... Container Volumes Rebound

Non-containerized Cargo Slump Amid Fallout from the Middle East Conflict

Yonhap News

In the second quarter of this year, nationwide port cargo volume continued to decline, affected by instability in the Middle East. However, container cargo volumes rebounded, recovering from the decline seen in the first quarter and showing signs of recovery.

According to the Ministry of Oceans and Fisheries on July 30, the total cargo volume handled at Korean trade ports in the second quarter of 2026 was 375.95 million tons, down 4.8% from the same period last year.

Of this, import and export cargo volumes stood at 318.01 million tons, a decrease of 5.6%, while coastal cargo volumes dropped by 0.3% to 57.94 million tons. By category, there were increases in textile fibers, plastic and rubber products, iron ore, automobiles and parts, and bituminous coal. In contrast, petroleum products, crude oil and oil, and petroleum gas all declined.

On the other hand, container cargo volumes reached 8.32 million TEU, an increase of 0.6% compared to the same period the previous year, reversing the 1.2% drop in the first quarter. Notably, container cargo handled in June reached 2.83 million TEU, a 6.4% year-on-year increase. Export and import containers fell by 0.9% due to decreased volumes with the United States, the Middle East, and Vietnam. Meanwhile, transshipment volumes rose by 2.2% to 3.78 million TEU, driven by increased shipments to Europe and China.

By port, Busan Port handled 6.46 million TEU in container cargo, a 0.5% increase, while Incheon Port processed 900,000 TEU, up 1.9%. In contrast, Gwangyang Port saw a 4.2% decrease to 510,000 TEU, mainly owing to a decline in transshipment cargo.

Non-containerized cargo volumes fell by 9.4% to 230.36 million tons. All major ports saw declines: Gwangyang Port (-17.0%), Ulsan Port (-17.9%), Pyeongtaek-Dangjin Port (-4.8%), Incheon Port (-15.7%), and Daesan Port (-10.7%). By item, automobiles and parts (up 4.3%) and bituminous coal (up 15.8%) both increased, whereas oil (-18.6%), ores (-3.8%), and chemical industry products (-16.6%) all decreased.

Hwang Jongwoo, Minister of Oceans and Fisheries, stated, "Continued instability in global logistics and energy markets caused by the Middle East war has led to a decline, especially in non-containerized cargo. However, the rate of monthly decrease is gradually easing." He also said, "Given that uncertainties in export and import logistics are expected to persist in the second half of the year due to the prolonged Middle East war and U.S. tariff measures, we will work with related agencies to maintain stable shipping and port logistics operations."

This content was produced with the assistance of AI translation services.