News / Futures market bets on Asia-Europe rates staying high till October

© Romashdenis

Shippers and box lines expect Asia-North Europe freight rates to stay elevated until at least October, as the traditional Q3 peak season approaches, indicated by high trading volume of China’s container shipping futures (CoFIF).

Amid tight supply of ships and equipment, the EC2408 contract closed at $4,192 yesterday, up from $3,933 the previous week, although the EC2406 contract price dipped to $3,976 from $4,009 the week before.

Linerlytica noted that attention is now shifting to the EC2408 contracts as the EC2406 contract ...