U.S. West Coast Sea Freight Rates Jump 10%
Sea freight rates for export cargo bound for the U.S. West Coast surged by more than 10% over the past month, climbing above 9.5 million won for the first time in a month. By contrast, rates to the East Coast edged down, while short-distance routes such as China and Japan also showed weakness, under
U.S. West Coast sea freight rates have surged by more than 10%, reaching an average of 9.511 million won ($6,989) per 2 TEU container, marking a 12.3% increase from the previous month. This surge is attributed to the logistics cost burden on exporters, while rates to the U.S. East Coast have decreased slightly, down 1.3%. In contrast, short-haul routes in Asia, such as China, Japan, and Vietnam, have shown weakness, with rates to China plunging 18.7% and to Japan and Vietnam declining by 3.2% and 4.3%, respectively.
Brief written by urgent.news from BusinessKorea's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
