Data released on Friday revealed that outbound container shipping rates for the U.S. east coast and the European Union increased in August from the month before.
The average cost of a 40-foot container from South Korea to the U.S. east coast was 4.68 million won ($3,527) in August, a 3.6% rise from the previous month, according to the Korea Customs Service.
Shipping costs for European routes also rose 1.7%, while those for the U.S. west coast declined 3.7% to 4.07 million won.
The rate for containers heading to China jumped 19% in August, and those for Japan increased 6.4%.
In contrast, the cost for South Korean importers to transport a 40-foot container from the west coast of the U.S. dropped 6.4% to 2.48 million won, while those from the east coast rose 25.6% to 2.31 million won.
Rates from Europe and China fell 14.6% and 10.5%, respectively, to 1.27 million won and 958,000 won.
Containers are unloaded from ships at a port in Busan, 320 kilometers southeast of Seoul, in this file photo taken on Sept. 1, 2023. (Yonhap)
colin@yna.co.kr
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