South Korea's exports reached record levels, yet cargo volume at trade ports declined in the second quarter. Both import/export and coastal cargo volumes fell, showing a 4.8% decrease compared to the same period last year.
According to the Ministry of Oceans and Fisheries' report on national trade port cargo volume for the second quarter of 2026, the total cargo volume was 375.95 million tons, down 4.8% from the previous year. The import/export cargo volume decreased by 5.6% to 319.01 million tons, while coastal cargo volume fell by 0.3% to 57.94 million tons.
Container cargo volume for the second quarter was recorded at 8.32 million TEU, a 0.6% increase from the same period last year. However, import/export container volume dropped by 0.9% to 4.5 million TEU. While import/export volumes increased for China (7.7%) and Japan (1.5%), declines were noted in long-distance regions such as the Middle East (-54.6%) and the United States (-9.0%).
Transshipment volume increased by 2.2% year-on-year to 3.78 million TEU, driven by growth in transshipment volumes from Europe (67.7%) and China (8.4%).
By major port, Busan handled 6.46 million TEU in the second quarter, a 0.5% increase from the same period last year. Import/export volume was 2.73 million TEU, while transshipment volume reached 3.73 million TEU. A Ministry official noted, "The increase is likely due to global shipping companies utilizing Busan as a major hub on the Asia-North Europe route."
Incheon Port processed 900,000 TEU, a 1.9% improvement from the previous year, attributed to a low base effect from last year's performance. Import/export volume was 890,000 TEU, with transshipment volume at 9,000 TEU.
Gwangyang Port reported a decline, handling 515,000 TEU, down 4.2% from the previous year. Import/export volume increased by 2.8% to 470,000 TEU, but transshipment volume plummeted by 55.5% to 30,000 TEU.
In the second quarter of this year, non-container cargo volume was 230.36 million tons, a 9.4% decrease from the same period last year, with declines noted at Gwangyang, Ulsan, and Pyeongtaek-Dangjin ports.
Notably, there was a significant drop in oil, ore, and chemical production products, with oil volume falling by 18.6% to 93.72 million tons, failing to exceed 100 million tons.
Minister of Oceans and Fisheries Hwang Jong-woo stated, "The decline in port cargo volume in the second quarter reflects ongoing instability in the logistics and energy markets due to the Middle East conflict, particularly affecting non-container cargo. However, the monthly decline rate is easing, and container cargo has seen a slight increase compared to the previous year, serving as a stabilizing factor for overall cargo volume."
* This article has been translated by AI.
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