Asia-Europe spot rates up 16pc to US$826 per TEU ahead of March rate hikes

SPOT rates on the Asia-Europe and Asia-Mediterranean trades received a boost last week ahead of the proposed rate hikes slated for March 1.

Asia-Europe rates increased 16.2 per cent to $826 per TEU, an increase of $115, while Asia-Mediterranean rates soared 18 per cent to $867 per TEU, according to the latest Shanghai Containerised Freight Index (SCFI).


On the trades from Asia to the US rates continued to decline, with west coast spot rates falling 1.3 per cent to $1,774 per FEU and the east coast dipping 0.7 per cent to $2,922 per FEU.


Across all trades covered by the index the SCFI rose 2.9 per cent week to week to 977.09 points.