SPOT rates for shipping containers from Asia to northern Europe in the week ending Friday fell 2.1 per cent to US$701 per TEU, while the Shanghai-Mediterranean run edged down slightly to $726 per TEU, according to the Shanghai Containerised Freight Index (SCFI). As expected, container spot rates soared between Asia and the US buoyed by general rate increases (GRIs) and radical cuts by carriers, reports The Loadstar of London. The SCFI recorded a surge of 24.5pc on the Shanghai-US west coast leg to $1,720 per FEU while China-US east coast rates soared 16 pc to $2,789 per FEU.