Container shipping costs to Middle East rise for 3rd straight month in May amid lingering tensions (opens original article in a new tab)

Container shipping costs from South Korea to the Middle East increased for the third straight month in May amid ongoing tensions, with average charges reaching 6.81 million won for a 40-foot container.

• Container shipping costs from South Korea to the Middle East rose 4.9% in May, marking the third consecutive month of increases.
• Average shipping charges for 40-foot containers to the Middle East reached 6.81 million won in May, up from 3.72 million won in February.
• U.S. President Donald Trump announced a peace deal with Iran, including the 'toll-free' opening of the Strait of Hormuz and removal of U.S. naval blockade of Iranian ports.