Maersk’s high spot rate quotes helped to boost short term market sentiment, but
skepticism over the sustainability of the current high rate levels heading into
2025 continues to prevail in the CoFiF futures market.
The EC freight futures traders were spooked by reports of a Gaza ceasefire as
the longer dated container freight futures for 1H 2025 contracts corrected by
20-30% WoW. Near term contracts for 2H 2024 remain firm, with EC2408 and EC2410
recording marginal gains backed by the 4.0% gai