Shanghai Containerised Freight Index (SCFI) spot rates from Asia to North Europe increased 167 per cent last week to $548 per TEU, according to reports.

Also, spot rates on the transpacific fell three per cent to $1,229 per FEU while Asia-US East Coast rates were down 1.3 per cent to $2,866 per FEU.

The Shanghai-Med SCFI rate increased 146 per cent from the previous week to $675.

According to Alphaliner, the Asia-Europe breakeven rate for carriers is $800 per TEU.