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            november 19, 2019

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LKW Walter

CIBE 2019

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Week in rates: Asia-Europe spot rate increases 86.7pc


Spot rates cited by the Shanghai Containerised Freight Index (SCFI) for the transport of Asia-to-Europe containers increased 86.7 per cent last week, hitting US$1,353 per TEU, climbing over the $1,000 break-even point at last, according to Shipping Gazette.
It was four-month high in rates that have seen declines for 19 weeks. But despite last week's sharp rise, the spot rate is was still 13.3 per cent lower than it was last year at this time.
The Asia-Mediterranean spot rate was close behind, jumping 57.7 per cent to $1,443 per TEU, $528 per container higher than a week ago.
The Asia-US east coast SCFI spot rate was up 8.5 per cent to $4,363 per FEU, and this was 47 per cent better than during the same week last year.

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