SPOT rates for shipping containers from Asia to northern Europe in the week ending last Friday surged 24 per cent to US$2,984 per TEU, a staggering 230 per cent higher than in the same week of 2019.
Asia-Mediterranean rates put on 29 per cent to breach the $3,000 mark, at $3,073 per TEU, according to the Shanghai Containerised Freight Index (SCFI).
Rates from Shanghai to US west coast were flat at $3,984 per FEU, which is, nonetheless a vast 188 per cent increase compared to the same week of last year.
Meanwhile, China-US east coast increased a further $104 to $4,804 per FEU, representing a 91 per cent hike on the same week last year, reports UK's The Loadstar.
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