Asia-Europe rates continue to increase, rising 13.4pc to US$1,491/TEU

ASIA-EUROPE spot rates continued to increase over two straight weeks, rising 13.4 per cent or by US$176 per TEU to $1,491 per TEU last week, according to the Shanghai Containerised Freight Index (SCFI).

But rates were down 17.1 per cent or by $218 per TEU on the Asia-Mediterranean trade to $1,055 per TEU.

Rates on transpacific trades were also under pressure. Asia-US west coast rates fell a further 2.8 per cent or $68 per FEU to $2,408 per FEU and Asia-US east coast rates dipped 1.4 per cent or $49 per FEU to $3,379 per FEU.

The comprehensive SCFI rose 1.7 per cent from previous week to 1,251.2 points.