Shanghai-North Europe freight futures have rallied since 10 October with traders
placing their bets on a rate rebound in the next 2 months. December 2024
contracts are now trading at a 16% premium over October on expectations that
carriers will be able to secure part of their planned rate increase in November
and hold the higher rates through December on the back of firmer year-end cargo
demand. However, the post-Chinese New Year rate rally have fizzled out with
forward rates for April, June and