EC freight futures will come under further pressure this week after the SCFIS
was published after market close on 26 August with a sharp 7.3% WoW drop,
against the 2.3% WoW decline last week. The drop was worse than traders’
expectations as futures prices had rallied last week on stalled Gaza peace talks
and the relatively mild drop in the SCFIS on 19 Aug of just 2.3%.
Carriers continue to slash rates last week, with average rate quotations from
Shanghai to North Europe falling from $8,500/FEU