The EC2412 dropped to a low of 2,900 at the open yesterday (29 October) and then
continued to recover as traders digested the conflicting freight rate quotations
from different liners.
Average utilization continued to improve as shippers rushed to send out their
shipments ahead of the general rate increase scheduled for November 1, this
Friday. On October 28, four ships departed Singapore for Northern Europe with
over 96% utilization.
Over the past two days, online quotations from the liners