Container shipping costs to Middle East continue rising in July amid conflict
Container shipping costs from Korea to the Middle East continued rising in July, the customs agency said Tuesday, amid protracted geopolitical tensions in the region. The average shipping charge for a 40-foot container from Korea to the Middle East rose 14.5 percent from a month earlier to 8.78 million won ($6,217) in June, according to data from the Korea Customs Service. The reading has been…
The Korea Times reports that container shipping costs to the Middle East have continued to rise in July, driven by ongoing geopolitical tensions in the region. According to data from the Korea Customs Service, the average shipping charge for a 40-foot container from Korea to the Middle East increased by 14.5 percent in June, reaching 8.78 million won ($6,217).
This trend has been ongoing since March. The agency also noted that shipping costs to the U.S. west coast rose 11.1 percent to 8.56 million won, while costs to the east coast increased by 14.4 percent to 8.14 million won. Additionally, shipping costs to the European Union saw a significant jump of 36.4 percent to 5.68 million won. These figures encompass freight rates, commissions, and other charges reported by local exporters.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
