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China–South Korea Freight Update: 40HQ Rates Reach $1,000 – Plan Your Shipments Early
Created on 09.24
China–South Korea Freight Update: 40HQ Rates Reach $1,000 – Plan Your Shipments Early
We are seeing an extraordinary shift on the China–South Korea shipping lane.
Ocean freight for a 40HQ container was around $100 just three months ago. One month ago it reached $500. Today, spot rates for mid-October sailings are around $1,000.
What's behind this?
- Global carriers are cutting capacity across major routes (11% of sailings cancelled in Q4 per Drewry), pulling ships away from intra-Asia services.
- Bunker fuel prices stay elevated (~$860/mt VLSFO in Singapore), keeping operating costs high.
- Peak season surcharges and terminal fee hikes take effect October 1.
- China's Golden Week export rush and South Korea's Q4 restocking are colliding.
For exporters of food ingredients, chemicals and industrial powders, this materially impacts landed cost and delivery planning.
Our team is monitoring slot availability daily and working to secure bookings ahead of the peak. We advise all partners to:
- Book cargo as early as possible
- Expect rate volatility through October
- Communicate openly with customers about supply chain cost dynamics
The era of $100 Korea freight is clearly behind us for now. Let's navigate this together.
Sources: Drewry Cancelled Sailings Tracker, Maersk tariff announcements, Ship & Bunker, SINO Shipping, Oil Price API, Korea Customs Service
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