Asia-Europe spot rates plunged 7.9 per cent last week to $ 1,104 per TEU, marking the fifth straight week of declines, according to the latest Shanghai Containerised Freight Index (SCFI).
Rates fell 10 per cent on the Asia-Mediterranean trade for the week to $ 1,033 per TEU, the lowest on the trade since December 7 when they were just $ 722 per TEU.
Declines also occurred on the US-bound trades from Asia, though not quite as severe as the Europe and Mediterranean routes.
Asia-US West Coast rates slipped 3.3 per cent week-to-week to $ 2,287 per FEU while US East Coast rates dipped two per cent to $3,447 per FEU.
Across all trades covered by the index, the SCFI declined 4.2 per cent to 1,117.04 points, according to the Shipping Gazette.
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Source: transportweekly
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