Benchmark contract EC2508 dropped 7%, with the bulk of the decline coming in the afternoon session. Open interest rose by 4,279 lots, pointing to heightened conviction among short sellers. This sharp fall stands in stark contrast to recent moves by shipping lines, which have lifted near-term freight rates for the first time in weeks. MSC, for example, reversed course overnight, increasing its quotation from $2,640 to $3,240 per FEU. The only bearish signal overnight was a drop in vessel utilisa
Maersk’s spot rate of $3,400 per FEU for shipments departing on July 3rd, published in the afternoon of June 17th, elicited only a muted response in the next day ( June 18th): the EC2508 contract rose by a modest 3%, amid considerable liquidation that pushed open interest below 90,000. This morning (June 19th), MSC went further by slashing its rate for June 30th departures to just $2,640 per FEU—even as it maintained a July FAK rate of $4,092 per FEU. The sharp cut for near-term shipments sent
The freight futures market opened lower today but is slowly recovering, buoyed by anticipation of Maersk’s July shipment quotation. Released at 14:30, Maersk’s rate of $3,400 per FEU is significantly below CMA CGM’s $4,645 but still $500 higher than its offer for shipments leaving end of June. Vessel utilisation has improved modestly, though it remains well below the highs seen at the same time and November last year, and January this year.
Container vessel traffic in the Middle East remains unaffected by the escalation in the Israel-Iran conflict since 13 June with carriers maintaining their scheduled calls at Middle East Gulf and Israeli ports, while Suez transits have also been retained. Zim affirmed the continuation of its services to the Israeli ports of Ashdod and Haifa while CMA CGM is still proceeding to reroute 3 of their Europe-Indian subcontinent/Far East ships through the Suez this month despite the rising tensions. How
EC freight futures failed to retain the initial gains following Israel’s attack on Iran on 13 June with prices closing lower on 16 June as the market continues to assess the impact of the rising tensions in the Middle East. The prolonged closure of the Red Sea and higher fuel costs are expected to lead to keep freight rates elevated, the prospect of a blockade of the Strait of Hormuz could leave up to 3.4% of global container volumes stranded. Trading remained subdued throughout the past week a
Carriers managed to retain the positive rate momentum to North Europe, with the SCFI rising by 10.6% while the SCFIS edged up by a further 4.6% after last week’s hefty 29.5% gain. The further delay in the return to the Suez route as a result of the rising tensions in the Middle East has helped raise sentiments with capacity utilization still holding up amidst elevated congestion at both Asian and European hub ports that have kept effective capacity lower in June. However, SCFI rates to the Med
Register Free Trial Container vessel traffic in the Middle East remains unaffected by the escalation in the Israel-Iran conflict since 13 June with carriers maintaining their scheduled calls at Middle East Gulf and Israeli ports, while Suez transits have also been retained. Zim affirmed the continuation of its services to the Israeli ports of Ashdod and Haifa while CMA CGM is still proceeding to reroute 3 of their Europe-Indian subcontinent/Far East ships through the Suez this month despite the
CMA CGM has redirected a ship on the Europe Pakistan India Consortium (EPIC) service to the Suez route despite the escalation in the Middle East conflict since 13 June 2025. The 11,388 teu CMA CGM AQUILA is heading from Algeciras to the Red Sea and is scheduled to transit the Suez Canal on 17 June 2025 before calling at Jeddah on 20 June, Abu Dhabi on 28 June and Jebel Ali on 30 June. The shorter Suez route will allow CMA CGM to cut the transit time from Europe to Abu Dhabi by about 10 days and
MSC will launch a new Oryx service connecting Singapore, Mombasa, Dar es Salaam, Singapore from 19 June 2025. The service will turn in 6 weeks using up to 6 ships of 3,500 teu starting with the 3,534 teu MSC ELBA III at Singapore on 19 June 2025.
It was a busy day as Israel launched an attack on Iran, which many freight futures traders interpreted as a buy signal. Traders have become conditioned to view any conflict as potentially positive for container shipping freight rates. The rally began with longer-dated contracts, fueled by expectation that liners will have to postpone their return to the Red Sea. Later, the main contracts, EC2508 and EC2510, gained momentum on expectations of increased fuel surcharges, which would be added to the