EC2502, the main contract of EC, rose 10% yesterday (November 5) on strong
volume and maintained this gain through the morning session today, despite
increasing concerns about the impact of the Trump administration on Chinese
exports. Since our last daily update on November 1, COSCO and Evergreen have
also raised their quotations for Asia-North Europe shipments to over $5,000/FEU.
However, utilization has been declining since November 1.
Far East - North Europe Head Haul