Maersk’s statement over the weekend that it is planning to resume Red Sea
transits sent both liner equities and forward CoFIF contracts into retreat on 25
December after a banner week for both markets last week. CoFIF futures for April
surged by 55% last week while daily turnover averaged nearly $4.9bn and Open
Interests reached $2bn.
The latest SCFIS assessment on 25 December on the Asia-North Europe route surged
by 21.7% following its 5.4% rise the week before. The SCFIS, which is the
underl