FREIGHT rates on all major trades from China continued to climb last week with the biggest jump occurring on the US west coast route where rates increased 11.3 per cent from the previous week to US$1,769 per FEU, according to Shanghai Containerised Freight Index (SCFI) data.
UK-based shipbroker ACM Shipping reported that rate hike to the US west coast was nearly half the amount announced by the Transpacific Stabilisation Agreement for this year's peak season surcharge.
But the increases did not stop there as rates to the US east coast rose by 6.8 per cent week-to-week to $3,343 per FEU.
Following on from a solid 5.5 per cent increase the week before, Asia-Med rates rose again last week by 2.9 per cent to $1,049 per TEU, while Asia-Europe rates were up a marginal 0.5 per cent to $832 per TEU.
At their current low levels it looks as though it will be some time before rates get back to the breakeven level on the Asia-Europe trade, but the fact that rates are rising is positive, albeit by only a small amount, is still positive.
