Asia-Europe rates plunge 11.4pc to $1,225/TEU as all trades decline

ASIA-EUROPE spot rates fell again last week 11.4 per cent to US$1,225 per TEU with rates on the Asia-Mediterranean trade also falling 10.4 per cent to $856 per TEU, according to the Shanghai Containerised Freight Index.

Declines also took place on the US-bound trades from Asia with west coast rates slipping 3.7 per cent to $2,224 per FEU and east coast rates down 2.2 per cent to $3,246 per FEU.

Across all trades covered by the index rates dropped 4.9 per cent to bring the SCFI to 1,134.98 points