Ulsan Port cargo throughput rises 12.8% in July

Ulsan Port cargo throughput rose by 12.8% in July to 18.32 million tons compared to the same month last year. This marks one of the highest monthly performances in recent years.

The growth was primarily driven by a 17% increase in liquid cargo, reaching 15.17 million tons. This surge is attributed to the diversification of crude oil import sources to mitigate instability in the Middle East, including increased imports from the United Arab Emirates (UAE) using routes that bypass the Strait of Hormuz.

In contrast, container cargo volume fell by 14.2% year-on-year to 26,537 TEU, impacted by a decline in shipments of vehicles, parts, and textiles. General cargo also saw a slight decrease of 2.4%, reaching 2.81 million tons, as lower trade volumes in steel products and anthracite offset gains in other ores.