From Weekly Market Pulse published on 22 October: Shanghai-North Europe freight
futures continued to rally on 21 October with long-dated EC contracts from
December 2024 through August 2025 rising by 7-15% on November rate hike
expectations. Carriers have raised their online freight quotations in
anticipation of the 1 November 2024 rate hike with CMA CGM advancing the date
for the higher spot rates from November 1 to October 25 as it seeks to take
advantage of the strong pre-GRI bookings.
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