Booming demand for ocean freight, port delays and equipment shortages are continuing to push container spot rates to new heights.

Rates from Asia to the US West Coast rose by over 13% to new high of $5,650 per 40-foot equivalent unit (feu), while those to the US East Coast remain just $120 short of record levels of $7,435 per feu, according to the Freightos Baltic Index (FBX).