Asia-Europe rate hikes take spot market up 13.2pc to US$1,934/TEU

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ASIA-EUROPE spot rates have increased 13.2 per cent to US$1,934 per TEU over the last two weeks in the wake of the latest round of rate hikes, according to the Shanghai Containerised Freight Index (SCFI).

Last week rates from Shanghai to Europe increased $46 per TEU, after rising $180 the week before.

Asia-Mediterranean rates are also up, rising 2.8 per cent to $2,033 per TEU last week.

Rates from Asia to the US remained flat last week, with west coast rates dipping 0.1 per cent to $2,412 per FEU and east coast rates edging up 0.6 per cent to $3,579 per FEU.

Across all trades covered by the index the SCFI was up 0.9 per cent for the week to 1,501.46 points.

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