Spot rates for shipping containers from Asia to northern Europe in the week ending Friday was up 2.8 per cent to US$743 per TEU, while the Shanghai-Mediterranean run was up two per cent to $710 per TEU, according to the Shanghai Containerised Freight Index (SCFI).
The SCFI recorded a 3.4 per cent on the Shanghai-US west coast leg to $1,294 per FEU while the Shanghai-US east coast run saw rates drop 2.2 per cent to $2,450 per FEU.
China-US east coast rates at $2,776 per FEU, which is 16 per cent higher than the beginning of April, which it said was "largely due to ongoing Panama Canal capacity reduction".
Source:HKSG Group
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