The Korea Times
Container shipping costs from Korea to the Middle East shot up for two straight months in April, the customs agency said Friday, amid prolonged geopolitical tensions in the region. The average shipping charge for a 40-foot container from Korea to the Middle East soared 22.8 percent to 6.43 million won ($4,290), extending their gains to a second consecutive month, according to data from the Korea Customs Service. The shipping charge to the Middle East jumped by 42.7 percent from a month earlier in March, following U.S.-Israeli air strikes on Iran. Shipping costs to Europe rose 9.1 percent to 3.69 million won, while those to China surged 40.9 percent to 702,000 won, the data showed. The average shipping charge for containers bound to the U.S. West Coast, on the other hand, fell 9.2 percent from a month earlier to 5 million won in April. Costs to the U.S. East Coast also decreased 1.4 percent. The figures include freight rates, commissions and other charges reported by local exporters, according to the agency.
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