"Shippers and shipping companies 74% increase maritime fares next year or maintain status quo"

Due to the prolonged situation in the Middle East and the increase in shipments from China, the logistics industry is expected to maintain a good maritime balance next year.

According to the Korea International Trade Association's online survey of 413 people, including shippers and shipping company officials, from the 21st to the 30th of last month, 74% of the respondents predicted that sea freight rates will rise next year or the current trend will be maintained.

On the other hand, only 23.6% of respondents predicted that fares would fall.

About 22% cited the prolonged situation in the Middle East as the main factors predicting a rise in sea fares, followed by global shipping companies controlling supply and increasing "push" volumes from China.

In particular, if the U.S. takes measures to raise tariffs on China, it is highly likely that maritime freight rates will rise significantly in a short period of time due to a surge in China's "push" supplies.

Lee In-ho, vice chairman of the Korea International Trade Association, said, "We need to make efforts to secure stable export routes through public-private cooperation as there is a lot of uncertainty in maritime freight," adding, "We will cooperate with the government to come up with countermeasures."