Cost to ship containers to U.S. East Coast rises for 4th month in February

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Cost to ship containers to U.S. East Coast rises for 4th month in February

Containers are stacked at Pyeongtaek Port in Pyeongtaek, Gyeonggi, on March 1. [YONHAP]

Containers are stacked at Pyeongtaek Port in Pyeongtaek, Gyeonggi, on March 1. [YONHAP]

 
Container shipping costs from Korea to the West Coast of the United States fell for a third consecutive month in February, while rates to the East Coast rose for a fourth straight month, data showed Monday.
 
The average shipping cost for a 40-foot container to the West Coast declined 4.2 percent from a month earlier to 4.52 million won ($3,025), the Korea Customs Service said. In contrast, the average rate to the East Coast edged up 0.7 percent on month to 5.38 million won.
 

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Rates to the European Union fell 5.5 percent to 3.28 million won, marking a second consecutive monthly decline.
 
Shipping rates to China fell 9.7 percent on month, while rates to Japan climbed 16.8 percent to 862,000 won, extending their upward trend to a fourth straight month.
 
The figures include freight rates, commissions and other related charges reported by local exporters, according to the agency.

Yonhap
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