Asia-Europe spot rates bounce back, up 21.9pc to US$1,888 per TEU

ASIA-EUROPE spot rates soared 21.9 per cent last week to US$1,888 per TEU, according to the latest Shanghai Containerised Freight Index (SCFI).

Last week's increase marks the highest point rates have reached on the trade this year. The hike is also the first on the Asia-Europe trade since early May.

Meanwhile, Asia-Mediterranean spot rates were also up last week, rising 12.3 per cent to $1,892 per TEU.

The news was not so positive on the Asia-US trades. Spot rates to the US west coast fell four per cent last week to $2,571 per FEU, while east coast rates dipped 1.4 per cent to $3,752 per FEU.

Across all trades covered by the index, the SCFI rose 2.5 per cent to 1,460.52 points.