Asia-North Europe freight futures rallied on 15 April with longer dated CoFIF
contracts (covering June 2024 to February 2025) recording strong double digit %
gain. Traders are building long positions with the escalation in the Middle East
conflict expected to extend the Suez diversions. The extended voyages have kept
Asia-North Europe capacity in check, with effective capacity falling by 3% YoY
in spite of the additional 23% capacity that has been deployed on the route.
Although carriers failed