Container shipping costs to the United States and Europe fell in August amid global trade uncertainties triggered by Washington’s tariff measures, according to data released Monday by the Korea Customs Service.
The cost of shipping two twenty-foot equivalent units (TEUs) from South Korea to the US west coast dropped 3.9 per cent from July to 5.28 million won (US$3,802). Rates to the US east coast slid 7.5 per cent to 5.84 million won during the same period. Freight rates to both coasts have now declined for two consecutive months after a rebound in June.
Shipping costs to the European Union also fell 4.3 per cent on-month to 3.77 million won. In Asia, freight charges to China and Vietnam plunged 16.9 per cent and 21.4 per cent, respectively, while costs to Japan rose 2.4 per cent to 727,000 won.
In a separate development, HD Korea Shipbuilding and Offshore Engineering Co. announced Monday that it has secured a 651.9 billion won (US$469.6 million) order to build four container ships for a shipper based in the British Virgin Islands. The vessels will be built at HD Hyundai Samho Heavy Industries Co. with delivery slated for the second half of 2028.
With this contract, HD Korea Shipbuilding has bagged orders for 90 vessels worth US$12.2 billion so far in 2025, achieving 67.7 per cent of its annual order target of US$18.05 billion. The company, a subholding unit of HD Hyundai Co., operates through affiliates including HD Hyundai Heavy Industries and HD Hyundai Mipo Dockyard.
