Container freight rates for U.S. east coast, Europe up in Aug.

Outbound container shipping costs for the U.S. east coast and the European Union moved up in August from a month earlier, data showed Friday.

The average rate for a 40-foot container from South Korea to the U.S. east coast came to 4.68 million won (US$3,527) in August, up 3.6 percent from the previous month, the data from the Korea Customs Service showed.

Rates for European routes also moved up 1.7 percent over the period to 2.66 million won, while those bound for the U.S. west coast fell 3.7 percent to 4.07 million won.

The shipping costs for containers bound for China shot up 19 percent on-month in August, and those for Japan gained 6.4 percent.

Meanwhile, the costs for South Korean importers to transport a 40-foot container from the west coast of the U.S. fell 6.4 percent to 2.48 million won, while those from the east moved up 25.6 percent to 2.31 million won.

Rates from Europe and China fell 14.6 percent and 10.5 percent, respectively, to reach 1.27 million won and 958,000 won.

Source: Yonhap News Agency

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