The underlying SCFIS index slumped by 19% on 17 February, reversing last week’s unexpected gains. The forward curve has returned to contango for the first time since November 2024, as EC freight futures strengthened over the past week with rates expected to rebound over the March to September period.
Trading activity was mainly focused on the principal EC freight futures contract for April 2025 (EC2504) which rose 10% as both MSC and Maersk joined other carriers in raising their quotations for