Container freight costs for major destinations decreased in June


SEOUL, July 17 (Yonhap) — Container shipping costs for main destinations, including the United States and the European Union, dropped in June from the month before, according to data released Monday.

The average rate for a 40-foot container from South Korea to the U.S. west coast was 4.62 million won (US$3,652) in June, a decrease of 8 percent from the prior month, the data from the Korea Customs Service showed.

Rates for the U.S. east coast declined 3.9 percent to 4.79 million won, while those for the EU routes decreased 3 percent to 2.82 million won.

Shipping costs for containers bound for China decreased 1.4 percent during the period, and rates to Japan dropped 13 percent.

The data also showed the costs for South Korean importers to transport a 40-foot container from the west coast of the U.S. decreased 7 percent month-over-month, while those from the east coast rose 0.8 percent.

Rates for containers from the EU and China decreased 1.6 percent and 9.6 percent, respectively, the data added.

Containers for exports and imports are stacked at a pier in the southeastern port city of Busan on July 4, 2023. (Yonhap)

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