ASIA-EUROPE spot rates jumped 21 per cent to US$1,455 TEU in the week ending on Friday, according to data from the Shanghai Containerised Freight Index, Reuters reports.

It was the first time rates on the Asia-North Europe route rose since July 4, when they jumped 28 per cent, having only increased in 10 weeks this year and fallen in 21.

Average rates for 2014 on the routes are $1,278 per TEU compared with $1,090 last year. Rates for the US east coast rose 17 per cent last week to $4,187. The comprehensive index rose 13 per cent to $1,195 per TEU.