EC contracts up 3-8% this morning with bids focusing on the near term contracts e.g. EC2412. Evergreen and MSC join the other liners to lift their November FAK rates quotation to over $4,000/FEU with Evergreen quoting $4,320/FEU and MSC quoting $4,540 /FEU. Average utilization continued to improve. COYHAIQUE, from Hapag Lloyd's independent service CGX left Singapore yesterday at 93% utilization, which is better than the same ship's last departure from Singapore in July when it registered only
EC opened lower but then recovered throughout the day, supported by decent volume and increasing open interest. The main contract, EC2412, ended the day higher, while longer-dated contracts declined, following yesterday's trend. The main delta today in liner's online quotations were ONE's lifting its online quotations, and COSCO published its November rates at $4,800 per 40-foot container. Average utilization for alliance vessels departing from the Far East continues to increase. The MUNICH MA
Shanghai-North Europe freight futures have rallied since 10 October with traders placing their bets on a rate rebound in the next 2 months. December 2024 contracts are now trading at a 16% premium over October on expectations that carriers will be able to secure part of their planned rate increase in November and hold the higher rates through December on the back of firmer year-end cargo demand. However, the post-Chinese New Year rate rally have fizzled out with forward rates for April, June and
Container freight futures being traded in Shanghai continue their rally this morning as liners started to revise up their online FAK quotations and the utilization for vessel departed over the weekend showed sequential improvement. Next data point is the SCFIS to be released at 3pm today. The last SCFIS suggests a freight rates of around $4000 per 40' container. The likely freight rates for last week, for which today's SCFIS will be based, could drop to $3600-3700 i.e. 8-10% WoW drop. Liners
There was a significant rally in the EC this morning. Most of the strength was seen in December contract, with the liner's FAK rate quotations for shipments departing in November being higher than those for shipments leaving this month. However, quotations for shipments departing on the same dates were mostly revised downward overnight. We spoke with various cargo owners, and most anticipate a sequential increase in volume in November. This suggests that the market could be moving out of the s
China’s onshore container freight futures market was closed for the Golden Week holidays from 1 to 7 October but is poised to trade weaker when it re-opens following the SCFIS’ 16% week-over-week drop on 7 October. The end of the USEC port strike also removes the last remaining hope for supply to remain tight for the remainder of the year, with a further correction in freight rates now inevitable. Carriers’ rate quotations remain largely unchanged over the past week at around $3,000/FEU with in
The US East Coast port strike has just ended. As of October 1, the container vessel capacity waiting outside the US East Coast and Gulf region amounted to 346,185 TEU. This is one of the key factors contributing to the global container vessel capacity affected by port congestion, which now stands at 2.8 million TEU. No SCFI today (4 Oct) as China is on a week-long holiday, but based on the liners' online quotations, FE-WCNA freight rates was lower since last Friday with Maersk reduced its quota
EC freight futures traded sharply higher on 30 September with all contracts from December 2024 to August 2025 hitting their 20% maximum daily limit, bringing their weekly gains to 41% to 55%. The US East Coast ports strike is driving the bullish short-term sentiment despite continued weakness on the Asia-Europe freight market as the SCFIS fell by 3.7% on 30 September while the SCFI dropped by 13% last week as carriers continued to slash rates ahead of the October Golden Week holidays. Average E
Short-covering continue to be the driver moving up prices of the container freight futures as traders close their freight futures positions to rotate to equities. Open interests fell 23% in a week. Main contract ie EC2412 rallied again this morning after have moved up 8% in the previous 2 trading days. Liners are still cutting their freight rates, which on average dropped 5% over the past weekend. The lowest quotation have broken below $3000/FEU with the THE Alliance liners leading the freight
Freight futures for Shanghai-North Europe route continue their rebound today with main contract which is EC2412 up 7% for the day at 10:50, following the broader capital market in China. Average online quotations for Shanghai to North Europe base ports dropped 1% to 8% overnight, with shipments departing in middle of October see the biggest freight rates cut. CMA CGM released first update since 18 Sep that it slashed its quotations by 14%. Maersk took the lead from HMM by offering the lower fr