Rates increase between 1.7pc and 7.2pc ahead of Chinese New Year shutdown

SHIPPING lines on the major trade lanes last week enjoyed rising rates that showed through in the Shanghai Containerised Freight Index`s (SCFI) 975.31 points, up 2.9 per cent from the previous week.

Asia-Europe rates rose 4.1 per cent to their highest level since late September at US$730 per TEU. Asia-Mediterranean rates increased 5.6 per cent to $754 per TEU.


On the transpacific trade Asia-US west coast rates saw the biggest upswing, rising 7.2 per cent or $121 from the previous week to $1,813 per FEU. Rates to the US east coast rose 1.7 per cent to $2,952 per FEU.