EC freight futures slid further following the Gaza ceasefire agreement, pushing the forward curve further into backwardation. The SCFIS spot index fell by 14.5% week-on-week, but forward rates are expected to drop by a further 55%-65% over the next 12 months.
Average daily trading volume rebounded by 36% week-on-week, exceeding 75,000 lots per day, while open interest rose by 11%, approaching 2024 highs. The EC2502 contract held its ground with a relatively small 2% drop but trading volumes dro