EC contracts mostly lost ground over the past week with the longer dated EC
futures after February 2025 registering drops over between 1% to 5%. In
contrast, near-term contracts were firm with December 2024 and February 2025
contracts gaining some ground as carriers managed to hold on to the 1 December
rate increases. The SCFIS released after the market close on 16 December 16
jumped by 14% week-over-week and 22% over the past two weeks, outperforming
market expectations bringing the index to wi