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Korean shipping exports hit record US$38 billion in 2022
来源： shippingazette 编辑：编辑部 发布：2023/02/15 11:17:27
SOUTH Korea's shipping service exports reached an all-time high of US$38.3 billion in 2022, breaking the previous record in 14 years, reported Hellenic Shipping News Worldwide.
Shipping industry accounted for the largest 29.4 per cent of the country's entire service industry exports for a second year in 2022.
"It is difficult to give a simple comparison with commodity exports but it can be comparable to steel that was the 6th largest export item last year," said the Ministry of Oceans and Fisheries.
The ministry also noted that strong exports came on the recovery of the global shipping industry and the government's efforts to support the shipping industry, such as helping flag carrier HMM to secure large-scale container vessels.
Sea freight rates also surged during the Covid crisis amid vessel shortages. Global demand for consumer goods also increased. The Shanghai Containerised Freight Index (SCFI) rose to 5,109 points in January last year from an average of 811 points in 2019.
Korea's ocean containership capacity also rose to 1.05 million TEU from 460,000 TEU in 2017.
National shipping companies, in the meantime, engaged in restructuring and responded to the changing market environment by forming alliances.
Shipping service exports, however, are projected to decline this year as shipping rates have plummeted since the third quarter of last year due to the Russo-Ukraine War and China's closing of borders.
Shipping industry accounted for the largest 29.4 per cent of the country's entire service industry exports for a second year in 2022.
"It is difficult to give a simple comparison with commodity exports but it can be comparable to steel that was the 6th largest export item last year," said the Ministry of Oceans and Fisheries.
The ministry also noted that strong exports came on the recovery of the global shipping industry and the government's efforts to support the shipping industry, such as helping flag carrier HMM to secure large-scale container vessels.
Sea freight rates also surged during the Covid crisis amid vessel shortages. Global demand for consumer goods also increased. The Shanghai Containerised Freight Index (SCFI) rose to 5,109 points in January last year from an average of 811 points in 2019.
Korea's ocean containership capacity also rose to 1.05 million TEU from 460,000 TEU in 2017.
National shipping companies, in the meantime, engaged in restructuring and responded to the changing market environment by forming alliances.
Shipping service exports, however, are projected to decline this year as shipping rates have plummeted since the third quarter of last year due to the Russo-Ukraine War and China's closing of borders.