Asia-Europe box rate up 151pc to US$841/TEU on latest carrier hikes
SPOT rates from the Shanghai Containerised Freight Index for the shipping of containers from Asia to northern Europe jumped by 151 per cent to US$841 per TEU in the week ending Friday.
The rise reflects the general rate increases earlier announced by major container carriers, reports Reuters. This comes after 13 weeks of declines on the world's busiest route. In the previous week rates were their lowest since the index was launched in 2009.
In the week to Friday, container freight rates rose 9.1 per cent from Asia to ports in the Mediterranean, fell 7.6 per cent to ports on the US west coast and fell 8.2 per cent to ports on the US east coast.