EC2512 continued to attract short selling throughout the day. For all EC contracts, a total of 34,224 contracts changed hands, marking one of the lighter trading sessions in terms of daily volume. Open interest rose by 1% to 79,739 contracts. For 1 September shipments, CMA CGM reduced its quoted rate from $2,420 to $2,200 per FEU, while Maersk listed $1,900 per FEU for cargo departing in the second week of September.
Register Free Trial Spot freight rates continued to slip for the 11th consecutive week, with prospects for a September rate rebound vanishing quickly as carriers continue to resist capacity cuts to match the drop in demand. Cargo booking volumes have fallen by between 5% to 20% in the last 2 weeks with the Transpacific, Asia-Europe and Latin America routes under heavy pressure. The withdrawal of 11 US sanctioned ships has lifted the idle fleet to a 15 month high, but this has not eased the tig
Freight futures extended their decline for a second consecutive day as CMA CGM and Evergreen made substantial cuts to their FAK rate quotations for sailings over the next two weeks, while Hapag-Lloyd lowered its August quotation to below $2,000 per FEU. Trading volumes remain thin, although open interest increased by 1,148 lots to reach 80,688 lots. EC2510, the benchmark contract, is approaching the 1,300 resistance level. The SCFI-Europe index, released after market close, fell 8.35% to $1,668
COSCO has added a new call at Yangpu on the OCEAN Alliance PSW6 service from 10 August 2025 to offer direct connections between Hainan and the US West Coast. The revised PSW6 service will call at Cai Mep, Yangpu, Nansha, Yantian, Kaohsiung, Long Beach, Cai Mep starting from August 2025 with the former call at Hong Kong dropped. The Yangpu call on the current PSW10 service has also been dropped. The PSW6 turns in 7 weeks using ships of 13,300 to 16,800 teu from COSCO. The service is branded as S
Premier Alliance carriers (HMM, ONE and Yang Ming) will split its current Mediterranean Pacific South 2 (MS2) into 2 separate services covering the Asia-Med Mediterranean 2 (MD2) service and the Middle East Gulf-US Gulf Pacific South 2 (GS2) service. The move will allow ONE to remove 10 China built ships currently deployed on the MS2 service from the US with the planned USTR port fee scheduled to take effect from October 2025. The current MS2 service deploys up to 21 ships of 13,000-15,000 teu
The freight futures listed in Shanghai dropped 1-2.7% for the day, except for EC2508 as short sellers add to their positions. Daily trading volume rebounded to 45,149, the highest in a week while the open interests have also increased by 3,174 lots to 79,540.
Quiet day and not much news flows. EC2510 dropped 1.33% for the day. Trading volume is thin as traders regard the contracts are already fairly priced. Some more liquidations on EC2510 and surprisingly also EC2512.
Rates to North Europe and Med have both dropped below $3,000/feu on the SCFI’s FEU assessment, with the pace of rate reductions accelerating as it becomes clear that the peak season is over. The extension of the US tariff pause on China has also reduced the pressure to shift part of the Chinese exports to Europe, which would have a negative detrimental impact on the European rates. The 90 day extension of the US tariffs on Chinese imports until 10 November has provided little relief to the fla
The containership orderbook has reached a record high of 10.4m TEU, following the flurry of new ship orders placed in the last 12 months, with the orderbook ratio rising to 31.7% of the fleet - its highest levels since 2010. The last time the orderbook ratio exceeded this level in 2004-2009, it ended in a decade-long supply overhang that took 10 years to clear. There is still over 1m TEU of pending ship orders that are due to be added before the end of this year.
The smaller-than-expected SCFIS decline after market close yesterday (18 Aug) lifted EC2508 by 2% today, while the other contracts slipped by less than 1% on thin volume of 34,375 contracts. Total open interest decreased by 519 to 77,773 contracts. Maersk listed $2,100 per FEU FAK rates for shipment departing first week of September, same for shipment departing last week of August.