Asia-north Europe container freight rates fall 1.1pc to US$697/TEU

SPOT rates from the Shanghai Containerised Freight Index fell 1.1 per cent on the Asia-northern Europe route to US$697 per TEU last Friday, Reuters reports.

It was the sixth straight week of declines with rates increasing in 11 weeks this year, but falling in 31.

Rates fell three per cent from Asia to the Mediterranean and 1.4 per cent to the US west coast and by 0.7 per cent to the US east coast ports.

Maersk Line announced last week it will raise freight rates 100 per cent from November 1, while CMA CGM announced it with increase Asia-north Europe rates by $850 per TEU.