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Container spot rates between China and North Europe soared this week on the back of 1 May general rate increases (GRIs), strengthening demand and concerns over the financial stability of ocean carriers.

The Asia-North Europe component of the Shanghai Containerized Freight Index (SCFI) leapt $461 to $732 per teu – a massive 170% increase on the week.

And spot rates to Mediterranean ports, which had not eroded as badly in recent weeks, jumped 138%, or $547 per teu, to $944.

The spot rate surge ...

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