Seoul, Sep 15
Container shipping costs to the United States and Europe declined last month amid uncertainties surrounding global trade due to Washington's tariff scheme, the customs agency here said on Monday.
The shipping cost for two twenty-foot equivalent units (TEUs) of containers from South Korea to the US west coast decreased 3.9 per cent from the previous month to 5.28 million won (US$3,802), according to data from the Korea Customs Service.
Shipping rates to the U.S. east coast dropped 7.5 per cent to 5.84 million won during the same period, reports news agency.
Shipping costs to the two U.S. regions had fallen for the past two months after rebounding in June, the agency said.
Freight rates from South Korea to the European Union also fell 4.3 percent on-month in August, to 3.77 million won.
Meanwhile, shipping costs to China and Vietnam fell 16.9 percent and 21.4 percent, respectively, during the same period.