Asia-Europe spot rates rise 3.4pc to US$1,728/TEU ahead of August GRI

THE proposed general rate increase (GRI) for August on the Asia-Europe trade appears to have had an impact as spot prices on the trade rose 3.4 per cent to US$1,728 per TEU, according to the Shanghai Containerised Freight Index (SCFI).

But all other major east-west trades covered by the index saw marginal slides for the week. Asia-Mediterranean rates were flat, down 0.1 per cent from the week before to $1,649 per TEU. Spot rates from Asia to the US west coast slid 0.9 per cent to $2,368 per FEU, while Asia-US east coast rates contracted 1.3 per cent to $3,513 per FEU.

Across all trades covered by the index the SCFI dipped 0.2 per cent to 1,327.08 points.