Container Shipping Costs from South Korea to China Rise for Eighth Straight Month in September

Container shipping costs from South Korea to China increased for the eighth consecutive month in September, according to the Korea Customs Service, as reported by Yonhap. The average cost for a 40-foot container rose 17.6% month-on-month, reaching 862,000 won (approximately US$634.48). This ongoing rise has been noted since February.

In contrast, shipping costs from South Korea to the European Union saw a decline of 14.7%, marking the first drop in five months. Similarly, the South Korea-Vietnam route experienced an 11.1% decrease, the first reduction in eight months. Costs for shipping from South Korea to the U.S. East Coast also fell by 5.7%.

Despite these recent declines, shipping costs for these routes have more than doubled compared to the previous year, largely due to rising tensions in the Red Sea and an increase in global cargo volumes.

Overall, shipping costs from overseas routes decreased in September, with declines of 16.5% from the U.S. West Coast to South Korea and 15% from Europe. Shipping costs from the U.S. East Coast to South Korea also dropped by 7.6% month-on-month. These figures encompass freight rates, commissions, and other charges reported by local exporters.