Spot rates for shipping containers from Asia to northern Europe in the week ending Friday declined by a further 1.9 per cent to US$688 per TEU, while the Shanghai-Mediterranean fell 2.9 per cent to $705 per TEU, according to the Shanghai Containerised Freight Index (SCFI).
Spot rates between Asia and US also ticked down following last week's massive surge buoyed by general rate increases (GRIs) and radical cuts by carriers, reports The Loadstar of London.
The SCFI recorded a 4.1 per cent decline on the Shanghai-US west coast leg to $1,649 per FEU while China-US east coast rates edged down 0.9 per cent to $2,764 per FEU.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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