Asia-North Europe freight futures rallied over the Labour Day shortened trading
week, with rates on the 2 main futures contracts (EC2406 and EC2408) trading
higher on 30 Apr and 6 May. The 2 short dated contracts rallied as the Middle
East peace talks faltered with the 2 contracts accounting for nearly 80% of
daily trading volumes, while the longer dated contracts for EC2412, EC2502 and
the newly launched EC2504 were tactically sold off as trading hedges.
Average daily volumes were unchanged b