Asia-Europe container freight rates continue falling

Spot container rates as measured by the Shanghai Containerized Freight Index /SCFI/ have dropped 6.1% from last week’s reading of 568.71 to 533.91 points. A month ago the index reading stood at 622.60 points, TASS reports.

Rates from Shanghai to Northwest Europe fell 11% from USD 259 per TEU to USD 233 per TEU, while rates from Shanghai to the Mediterranean fell 25% from USD 244 per TEU to USD 195 per TEU.

Transpacific spot rates improved in the past week: SCFI from Shanghai to the U.S. West Coast went up 13% to USD 1377 per 40-foot container /FEU/, while rates from Shanghai to the U.S. East Coast climbed 8% to USD 2390 per FEU.