Freight futures contracts retreated across the board on volatile trading last
week. The near-term contracts led the decline for most of last week before the
longer dated contracts caught on 5 Aug on the US recession fears. Trading
volumes are shifting from EC2410 to the later contracts with EC2504 gaining the
most market interest.
Based on the EC2408 and EC2410 latest closing prices, the futures market is
pricing in a 4.46% decline each week in the next 3 weeks to the end of August,
to be follo