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 Customs Service has reported a significant increase in container shipping costs from Korea to the Middle East in July, driven by ongoing geopolitical tensions in the region. The average shipping charge for a 40-foot container rose 14.5 percent to 8.78 million won ($6,217) compared to June, marking a trend that has been escalating since March.
Similarly, shipping costs to the U.S. west coast increased by 11.1 percent to 8.56 million won, while costs to the east coast rose by 14.4 percent to 8.14 million won. Notably, shipping costs to the European Union surged by a substantial 36.4 percent to 5.68 million won, reflecting the broader impact of the conflict on global logistics.
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.
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