Container freight futures retreated over the past week with growing concerns over the carriers’ persistent rate cuts. Despite MSC’s announcement on 12 March to raise its Asia-North Europe base rates to $4,000 per FEU from 1 April, it has provided rate offers at $2,090 per FEU until 6 April, effectively undermining their planned rate hike. Trading volumes fell by 17% week-over-week, while open interest remained largely unchanged as trader wait for fresh directions.
Despite last week’s sharp decl