ASIA-Europe freight rates continued to fall last week as the average spot rate on the trade fell 4.3 per cent week-to-week to just US$649 per TEU, according to the latest information provided by the Shanghai Containerised Freight Index (SCFI).
While news of falling freight rates on the Asia-Europe trade is hardly new, it was the Asia-US west coast trade that bucked the trend last week, rising a mere 0.5 per cent to $1,494 per FEU.
Although the rise may be small, it is somewhat of a departure from the general trend in the wider container shipping market at present.
All of the other main trade lanes saw rates fall again, however, with spot rates on the Asia-US east coast trade slipping 2.6 per cent to $2,869 per FEU and Asia-Mediterranean rates tumbling 3.4 per cent to $916 per TEU.
Across all trades covered by the SCFI dipped 0.7 per cent to 932.62 points.