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Transshipment Cargo Handled at Busan Port Dips in July

Logistic News - Published on Tue, 13 Aug 2019

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Transshipment cargo handled at South Korea’s largest seaport of Busan fell for the first time in 29 months in July amid a trade dispute between the United States and China, industry data showed. Busan’s transshipment cargo, or cargo processed here en route to final destinations, fell 0.5 percent on-year to 968,300 twenty-foot equivalent units (TEUs) last month. It marks the first on-year contraction since February 2017.

The southeastern port processed cargo totaling 1.86 million TEUs in July, up 2.7 percent from a year earlier. A 6.4 percent rise in export and import freight helped offset the decline in transshipment cargo.

Growth in Busan’s transshipment cargo handling began to lose steam sharply in May, when it gained a mere 1.9 percent from a year ago. In June, the volume edged up 0.4 percent.

In the first four months of this year, the on-year growth rate averaged 7.1 percent.

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Posted By : Mohan Sharma on Tue, 13 Aug 2019
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