Container shipping costs to US east coast rise for 4th month in Feb.
Containers are stacked at a port in Pyeongtae k, Gyeonggi Province, Thursday. Yonhap
Container shipping costs from Korea to the U.S. west coast fell for a third consecutive month in February, while rates to the U.S. east coast rose for a fourth straight month, data showed Monday.
The average shipping cost for a 40-foot container to the U.S. west coast declined 4.2 percent from a month earlier to 4.52 million won ($3,024), the Korea Customs Service said. In contrast, the average rate to the U.S. east coast edged up 0.7 percent on-month to 5.38 million won.
Rates to the European Union fell 5.5 percent to 3.28 million won, marking a second consecutive monthly decline.
Shipping rates to China fell 9.7 percent on-month, while rates to Japan climbed 16.8 percent to 862,000 won, extending their upward trend to a fourth straight month.
The figures include freight rates, commissions and other related charges reported by local exporters, according to the agency.