The CoFIF container freight index futures traded at a new hight in volatile
trading last week. Initial concern that CMA CGM’s resumption of Suez transits on
one of its Asia-Med strings (see page 20 Weekly News Briefs) could trigger a
response by its rivals proved to be unfounded, while the Shanghai Futures
Exchange’s action to enforce the position restrictions to ring-fence speculative
activities did little to dampen trading volumes as average daily turnover
reached $3.5bn. Open interests are do