This is the first time that the average rate on the trade has been below the $1,000 mark since late February.
Rates from Asia to the Mediterranean also continued to stumble last week, down 3.2 per cent to $722 per TEU.
A number of shipping lines have announced rate increases on both the Asia-Europe and Asia-Mediterranean trades of around $600 per TEU, effective December 15 and 16. So there may be some upward adjustment in next week`s SCFI. But much will depend on carrier discipline.
Rates were also down last week on the Asia-US trade lanes with west coast rates dipping 1.3 per cent to $2,019 per FEU and east coast rates down one per cent to $3,071 per FEU.
Across all trades covered by the index the SCFI contracted 2.8 per cent to 1,052.99 points.