Asia-N.Europe Box Rates Plunge 23.5 pct

Container spot freight rates from Asia to Northern Europe fell 23.5 percent to $861 per twenty-foot equivalent units (TEU), data from the Shanghai Shipping Exchange showed.

Freight rates from Asia to ports in the Mediterranean fell 13.8 percent to $865 per TEU. Freight rates from Asia to the U.S. West Coast fell 3.4 percent to $1,277 per forty-foot equivalent unit (FEU)

Freight rates from Asia to the U.S. East Coast fell 3.8 percent to $1,884 per FEU. Maersk Line, a unit in Danish shipping and oil group A.P. Moller-Maersk, is the market leader with a global market share of around 15 percent. It controls around 20 percent on the world's busiest routes between Asia and Northern Europe.

Reporting by Ole Mikkelsen