Market Chatter: South Korea-Middle East Container Shipping Costs Rise for Fifth Straight Month in June

MT Newswires Live07-15 12:05

The average shipping charge for a 40-foot container from South Korea to the Middle East, as reported by exporters, rose for a fifth straight month in June, Yonhap News reported Wednesday, citing data from the Korea Customs Service.

Container shipping costs increased 15.1% in June to 7.78 million won from May, the report said.

Freight rates to the U.S. West Coast surged 45.5% to 7.86 million won, while rates to the East Coast jumped 26.6% to 7.11 million won last month from May. Shipping costs to the European Union added 17.4% to 4.24 million won in June, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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