Asia-Europe rates slip 1.7pc to US$1,326/TEU, Shanghai index off 1.4pc

AFTER successive weeks of rate increases on the Asia-Europe trade, the spot rate dipped 1.7 per cent to US$1,326 per TEU last week, according to the latest Shanghai Containerised Freight Index (SCFI).

The $23 per TEU slide on the Asia-Europe trade was the largest fall for the week among the major trade lanes, in percentage terms, as all other trades saw rates remain relatively flat.

Asia-Mediterranean rates were down a marginal 0.8 per cent for the week, bringing the average rate down to $1,301 per TEU.

On the US-bound trades the declines were similar with the average rate to the US west coast down 0.9 per cent to $2,497 per FEU, and to the east coast it was down 0.4 per cent to $3,657 per FEU.

Across all trades covered by the index the SCFI declined 1.4 per cent to 1,227.84 points.