Freight futures of Europe Contracts (EC) declined yesterday and today as Maersk and MSC reduced their quotations to $3,200-$3,940 per forty-foot equivalent unit (FEU) from $4,000-$4,340 for shipments departing in March12.
The Shanghai Containerised Freight Index (SCFI) to be released after market today is expected to fall by 7-10%, as last week's rate of $1,608 per twenty-foot equivalent unit (TEU), or about $2,650 per FEU, remains significantly above current spot rates of around $2,200 per FEU