Container shipping costs to Middle East continue rising in July amid conflict
Containers bound for exports are stacked at a port in Pyeongtaek, Gyeonggi Province, July 24. Yohap
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 rising since March.
The average shipping charge for containers bound for the U.S. west coast rose 11.1 percent from a month earlier to 8.56 million won, while that for the east coast increased 14.4 percent to 8.14 million won.
Shipping costs to the European Union jumped 36.4 percent to 5.68 million won.
The figures include freight rates, commissions and other charges reported by local exporters, according to the agency.