Export sea container shipping cost to the west of the US in August, 32.3% higher than a year ago

The cost of shipping containers by sea from South Korea to the western United States last month rose 32 percent from a year ago, a report showed.

According to the ‘August 2022 Import/Export Transport Cost Status’ announced by the Korea Customs Service on the 15th, the average sea transport cost per 2TEU (one 40ft standard container) for export containers to the western United States last month was 14.3 million won, compared to the same period of the previous year. It rose 32.3%. The eastern part of the US recorded 13,397,000 won, 26.3% from a year ago, and the European Union (EU) rose 38.5% to 12,632,000 won, respectively.

Containers are piled up at Sinseondae Pier in Busan Port on the 13th. yunhap news

However, the rate of increase appears to have slowed somewhat. In the case of shipping costs for sea exports to the west of the US, the rate of increase in April this year reached 139.1% compared to the same month of the previous year, but since then, the rate of increase has been decreasing, such as 82.9% in May, 67.3% in June, and 42.2% in July. The base effect from the sharp rise in transportation costs last year seems to have had an impact.

Shipping costs for sea exports to short-distance routes such as China (27.4%) and Japan (0.5%) also rose from a year ago. Vietnam’s was 2252,000 won, up 83.2 percent from a year ago.

Shipping costs for sea imports were higher than a year ago on all major sea routes such as US West (45.5%), US East (20.7%), EU (11.7%), China (27.0%), Japan (31.7%), and Vietnam (44.4%). went up

Air import and transportation costs from five major countries (USA, EU, China, Japan and Vietnam) also rose from a year ago. The cost of transportation by air imports from the United States rose 140.6 percent to 6033 won per kilogram. Vietnam (56.4%), China (42.4%), Japan (37.8%) and EU (36.1%) also rose from the same month last year. Compared to the previous month, Japan (8.2%), the United States (3.1%), EU (2.7%) and China (0.7%) rose while Vietnam (-3.7%) fell.

These statistics are based on the report acceptance date, and some figures may be corrected until the annual statistics are finalized (February 2023).

Reporter Lee Kang-jin [email protected]

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Source: 세계일보 by www.segye.com.

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