ANN/THE KOREA HERALD – Container shipping costs from South Korea to China increased for the eighth straight month in September, according to the Korea Customs Service yesterday.
The average cost for a 40-foot container rose 17.6 per cent month-on-month to KRW862,000 (USD634.48).
Shipping prices have been steadily climbing since February.
But the average shipping costs from South Korea to the European Union shed 14.7 per cent, the first fall in five months. Costs for the South Korea-Vietnam route also fell 11.1 per cent, the first decline in eight months.
Costs for shipping from South Korea to the United States (US) east coast dropped 5.7 per cent.
Compared with a year earlier, however, the shipping costs for those routes more than doubled due mainly to tensions surrounding the Red Sea and the growth in global cargo volume, officials said.
Costs for shipping from overseas generally went down in September.
Those from the US west coast to South Korea declined 16.5 per cent and those from Europe skidded 15 per cent.
Shipping costs from the US east coast to South Korea lost 7.6 per cent on-month in September, the data showed.
The figures include freight rates, commissions and other charges reported by local exporters, according to the agency.
