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Asia-Europe up 26pc to US$591/TEU, off 6.6pc to USWC, 4pc to USEC
SPOT rates for shipping containers from Asia to northern Europe increased 26 per cent to US$591 per TEU last Friday, which is half of what it cost a year ago, according to Shanghai Containerised Freight Index (SCFI) data.
Asia-Med rates soared 55 per cent to $697 per TEU last week ahead of previously announced September 1 rate hikes, which still remain 55 per cent cheaper than what they were last year.
But transpacific and Asia-US east coast rates declined with the SCFI posting a Shanghai to west coast rate that was 6.6 per cent down on the previous week to $1,481 per FEU - or 30 per cent less than it would cost a year ago.
The all-water Shanghai to US east coast spot rate was down four per cent to $2,733 per FEU - 34 per cent less than it would coast last year.
Freight futures broker Richard Ward of Freight Investor Services (FIS), said the average weekly rate decline had increased significantly over the past few years.
He said in the year-to-date, the average weekly decline stands at $107 per TEU, while for the same period last year the figure was $83 TEU. During 2013 it was even lower at $65 a TEU.
Asia-Med rates soared 55 per cent to $697 per TEU last week ahead of previously announced September 1 rate hikes, which still remain 55 per cent cheaper than what they were last year.
But transpacific and Asia-US east coast rates declined with the SCFI posting a Shanghai to west coast rate that was 6.6 per cent down on the previous week to $1,481 per FEU - or 30 per cent less than it would cost a year ago.
The all-water Shanghai to US east coast spot rate was down four per cent to $2,733 per FEU - 34 per cent less than it would coast last year.
Freight futures broker Richard Ward of Freight Investor Services (FIS), said the average weekly rate decline had increased significantly over the past few years.
He said in the year-to-date, the average weekly decline stands at $107 per TEU, while for the same period last year the figure was $83 TEU. During 2013 it was even lower at $65 a TEU.
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