Spot rates for shipping containers from Asia to northern Europe increased 88 per cent to US$554 per TEU in the week ending on Friday, according to Shanghai Containerised Freight Index (SCFI).

On the Asia-Med run, rates nearly doubled to finish the week at $626 per after falling 22.5 per cent the week before to $315 per TEU.

The spot rate to the US west was up 1.5 per cent to $936 per FEU. All-water rates from China to the US east coast rate came in at $1,699 per FEU on Friday, up 0.7 per cent - still 50 per cent below the price levied last year at this time.