SPOT rates from Asia to north Europe rates fell 32.5 per cent last week ending on Friday to US$444 per TEU, the largest percentage fall since 2008, according the Shanghai Containerised Freight Index (SCFI). 

Asia-Med spot rates fell 25 per cent from last week to $581 per TEU, a drop of $195 per TEU, 63.6 per cent lower year on year, Reuters reported.

But the Shanghai-US east coast spot rate only fell 2.3 per cent per FEU while the transpacific rates dropped seven per cent to $1,412 per FEU.