Tonnage fall of 2.5% in October at Incheon

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Seoul’s Incheon International Airport saw cargo volumes fall 2.5 per cent in October handling 247,000 tonnes.

The gateway put the decline down to the loss of operating days in the month, due to the golden Chuseok Holiday, which meant it only operated on 18 days in October as opposed to 22.5 days.

However, the airport is upbeat about its cargo prospects in November as it notes the leading indicators of air cargo are positive.

Inches says including the rate of increase in the number of global semiconductors transported and the US’ inventory to sales ratio, indicate positive levels and the volume in November is expected to be restored to a similar level as that of the same period last year.

In October by region, cargo to the Americas was up 0.1 per cent, to Southeast Asia it was up 0.8 per cent, and to Oceania by 5.2 per cent, but was down to Japan by four per cent, to China 4.4 per cent and to Northeast Asia 3.6 per cent.

On a year-to-date basis tonnage at Incheon is up by eight per cent on the same 10 months in 2016.