SPOT rates for shipping containers from Asia to northern Europe in the week ending last Friday eased back by US$65 per TEU to $1,084 per TEU, 86 per cent higher than a year ago, according to the Shanghai Containerised Freight Index (SCFI).

Asia-Mediterranean rates ticked up a further $38 per TEU, to $1,239 per TEU, some 40 per cent higher than the rate recorded in May.

Rates from Asia to the US, recorded by the SCFI, were stable at $3,841 per 40 FEU for the US west coast and $4,619 per FEU for east coast ports, as carriers postponed planned mid-month general rate increases (GRIs) in the face of pressure from Chinese and US regulators, reports UK's Loadstar.