Spot rates on all major trade lanes fell again last week as Asia-Europe freight rates slumped even further to just US$754 per TEU, just under five per cent week down from the previous week, according to the latest data from the Shanghai Containerised Freight Index (SCFI), Shippingazette reports.
Asia-Mediterranean rates saw the biggest weekly decline of 6.3 per cent, falling $69 in just one week to $1,027 per TEU.
Across the Atlantic and the situation was not much better with freight rates from Asia to the US west coast falling 2.7 per cent to $1,589 per FEU and US east coast rates down 2.6 per cent to $3,124 per FEU.
The SCFI fell 2.8 per cent to 991.34 points, the lowest the index has fallen since it hit 989.17 points on March 18 this year.
Asia-Mediterranean rates saw the biggest weekly decline of 6.3 per cent, falling $69 in just one week to $1,027 per TEU.
Across the Atlantic and the situation was not much better with freight rates from Asia to the US west coast falling 2.7 per cent to $1,589 per FEU and US east coast rates down 2.6 per cent to $3,124 per FEU.
The SCFI fell 2.8 per cent to 991.34 points, the lowest the index has fallen since it hit 989.17 points on March 18 this year.