Korea Route Surge Over 30 Pct Amid Red Sea Crisis


Container shipping costs from Europe to South Korea rose more than 30 percent on-month in April amid ongoing tensions surrounding the Red Sea, the customs agency said Thursday.

Average shipping cost

The average shipping cost for a 40-foot container from the European Union to South Korea went up 32.8 percent on-month last month to 1.85 million won (US$1,368), according to data from the Korea Customs Service.

The average shipping cost from South Korea to the EU fell 6.9 percent on-month to 3.95 million won, the second straight on-month decline.

Shipping containers are stacked at a port in the southeastern city of Busan, in this file photo taken April 1, 2024.

Costs for shipping from South Korea to the U.S. west coast rose 4 percent on-month and 7.2 percent on-year in April to 5.07 million won.

The shipping cost to China rose 12.1 percent on-month to 560,000 won, and that to Japan advanced 16.1 percent to 772,000 won, the data showed.

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Source: yna.co