JUST when you thought Asia-Europe rates could not possibly fall any
further, they did last week by 6.5 per cent to US$573 per TEU, the
single biggest week-to-week decline this year, according to the latest
Shanghai Containerised Freight Index (SCFI).
Asia-Mediterranean rates took an even bigger hit last week, falling 6.6 per cent to $806 per TEU.
Hopes for continued rate increases on the Asia-US west coast trade have been dashed with the latest SCFI data revealing a 1.3 per cent decline on the trade to $1,481 per FEU.
Meanwhile rates continue to fall for Asia-US east coast shipments, following last week's three per cent dip to $2,709 per FEU.
Across all trades, the SCFI fell 2.3 per cent to 898.18 points.
Asia-Mediterranean rates took an even bigger hit last week, falling 6.6 per cent to $806 per TEU.
Hopes for continued rate increases on the Asia-US west coast trade have been dashed with the latest SCFI data revealing a 1.3 per cent decline on the trade to $1,481 per FEU.
Meanwhile rates continue to fall for Asia-US east coast shipments, following last week's three per cent dip to $2,709 per FEU.
Across all trades, the SCFI fell 2.3 per cent to 898.18 points.