There are reports of “sharp increases” in Asia-Europe container spot rates this week, as the fallout from the week-long Suez Canal blockage restricts both vessel and equipment capacity in Asia. Today’s Ningbo Containerized Freight Index (NCFI) North Europe and Mediterranean component jumped by 8.7%, almost matching the 8.6% increase on the Shanghai Containerized Freight Index (SCFI).

Read more here.