Spot rates from the Shanghai Containerized Freight Index drop 1.1% on the Asia-northern Europe route to USD 697 per Twenty Foot Equivalent Unit (TEU) last Friday.
It was the sixth straight week of declines with rates increasing in 11 weeks this year, but falling in 31. Rates drop 3% from Asia to the Mediterranean and 1.4% to the US west coast and by 0.7% to the US east coast ports.
Maersk Line announced last week it will raise freight rates 100% from November 1, while CMA CGM announced it with increase Asia-north Europe rates by USD 850 per TEU. 27-OCT-2014/ Asia