EC contracts continued to decline as traders anticipated a ceasefire deal between Israel and Hamas before the end of March.
The near-term fundamentals in the physical market are also weak, as the pre-Lunar New Year cargo rush has been insufficient to counter the highest capacity deployment on the Far East to North Europe route in two years, resulting in falling head haul vessel utilization. Liners have continued to slash their online quotations.
Traders expressed their bearish outlook, primari