The EC freight futures to North Europe remain bullish with buying interests
shifting towards the longer dated contracts in 2025 with EC2502 (February 2025)
and EC2504 (April 2025) contracts registering double digit gains last week,
bringing them above the corresponding months’ closing rates in 2024. The newly
launched EC2506 contract gained 32% since the launch last Tuesday on rising
conviction that the Red Sea crisis will last through 2025.
However, the EC2408 contract for August 2024 slipped