CONTAINER shipping costs from Korea to the US west coast experienced a 7.1 per cent month-to-month increase in October, reports Korea's Yonhap News Agency.
The average cost for a FEU on this route was US$3,358, marking the second consecutive monthly increase after a 1.8 per cent growth in the previous month.
However, on a year-on-year basis, the costs dropped 58.6 per cent in October.
Shipping expenses from Korea to the US east coast decreased one per cent month to month, and those to the European Union slid 8.6 per cent.
Costs for shipping to China also declined 10.8 per cent.
Conversely, costs for shipping to Japan and Vietnam increased 10.3 per cent and 1.9 per cent, respectively.
These figures encompass freight rates, commissions, and other charges reported by local exporters.
Conversely, Korean importers faced an average cost increase of 19.4 per cent and 3.5 per cent for shipping an FEU from the US west coast and China, respectively, in October.
Meanwhile, expenses from the US east coast decreased 11.5 per cent, and those from the EU saw a 4.8 per cent month-to-month decline, as indicated by the data.
from: shippingazette