Shipping freight rates for transporting containers from ports in Asia to Northern Europe rose 60.7 percent to US$1,586 per TEU last week, a source with access to data from the Shanghai Containerized Freight Index told Reuters.

Friday's freight rate rise follows five straight weeks of declines, and is not a complete surprise since Maersk Line and other major container shipping companies announced a rate hike with effect from December 15.

Denmark's Maersk Line has a market share around 20 percent on the busy route between Asia and Europe.