Asia-North Europe freight futures surged to a new record high with the August
2024 CoFIF contract (EC2408) closing at 4,313 on 27 May but daily trading
volumes dropped as traders waited for the next catalyst. Open interests ended
the week relatively unchanged in number of lots but stand at a record high in
dollar value due to the rise in prices since 9 May.
Capacity utilization on the Asia-North Europe route has come off slightly from
their recent high but this has not dampened freight rates wi