SPOT rates for shipping containers from ports in Asia to northern Europe soared 29 per cent to US$763 per TEU last week till Wednesday, according to the Shanghai Shipping Exchange, Reuters reports. 

It was the second straight week of increases of more than 25 per cent for spot rates on the Asia-Europe route - a combined increase of $294 - but still falls far short of $1,000 per TEU demanded by the shipping lines this week.

The Asia-Mediterranean trades posted a 24 per cent increase in the spot rate that reached $865 per TEU, nearly doubling in two weeks, rising 55 per cent ahead of the September 1 rate hikes.

Rates from to the US west coast dropped 1.7 per cent to $1,456 per FEU, while Shanghai-US east coast rates dropped 2.2 per cent to $2,672 per FEU in a third straight week of declines.

Container spot freight rates are normally calculated and published on Fridays, but last week they were issued earlier due to holidays in China.

Rates jumped as a result of planned September 1 general rate increases, Richard Ward, a container derivatives broker at Freight Investor Services in London said. 

Nonetheless, the increase may well disappoint for carriers, given their attempts to increase rates by $1,000 per TEU, he said. 

According to JP Morgan, Asian liners with the largest capacity exposure to Asia-Europe trade are CSCL with 36 per cent, Hanjin (33 per cent) and Cosco (32 per cent). Those with the largest capacity exposure to Asia-US trade are "K" Line (47 per cent), NYK Line (37 per cent) and Hanjin Shipping (35 per cent).