TP rate up 8.9pc to US$2,711/FEU; Asia-USEC rises 6.6pc to $3,966/FEU

SPOT rates on the transpacific trade rose 8.9 per cent to US$2,711 per FEU last week, while Asia-US east coast rates jumped 6.6 per cent to $3,966 per FEU, according to the latest Shanghai Containerised Freight Index (SCFI).

But the rate increases on the US-bound trades from Asia was not to be replicated in Europe and the Med trades, as rates again stumbled on those routes.

Asia-Europe spot rates plummeted another 5.1 per cent for the week down to $1,218 per TEU, while rates to the Med were down 5.7 per cent to $1,249 per TEU.

Across all trades covered by the index the SCFI rose 1.5 per cent to 1,285.63 points.