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ASIA-Europe spot rates plunged a further 4.04 per cent to US$641 per TEU last week, according to the latest Shanghai Containerised Freight Index (SCFI).
On the Asia-Mediterranean trade rates dipped 2.43 per cent week to week to $760 per TEU.
As rates on the Europe and Med-bound routes from Asia continued their freefall, rates to the US east and west coasts were up ahead of the annual contract negotiations.
Spot rates to the US east coast rose 2.68 per cent to $3,254 per FEU, while west coast rates increased 4.02 per cent week to week to $2,093 per FEU.
Other trades to see significant moves last week include the Asia-Persian Gulf and Red Sea, down five per cent to $873 per TEU; Asia-Australia and New Zealand, down 4.2 per cent to 889 per TEU, and the Asia-East Coast South America trade, which posted a fall of 4.76 per cent to $1,159 per TEU.
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