News / Good week for Asia-Europe carriers with box shipping rates up 20% as price hikes bite

The North Europe component of the Shanghai Containerised Freight Index (SCFI) soared 20% this week to $930 per teu as carriers succeeded in implementing a good quantum of their 1 December rate increases.

The boost from the container spot rate market could not have been better timed for Asia-Europe carriers, in the midst of annual contract rate negotiations, and is a far cry from the dire situation of a year ago.

Then, the SCFI recorded a massive $279 drop for North Europe, ...