The SCFIS index to North Europe gained a further 12.8% to reach 3,799 on 3 June
2024, further narrowing the gap between current spot rates and the CoFIF
Asia-North Europe freight futures’ EC2406 and 2408 contracts which are now
trading at a 10% premium to the current SCFIS.
The prices for these 2 contracts with the earliest expiry dates slipped
marginally last week on lower traded volumes, with the market lacking fresh
directions. The June and August futures rates are now on par, which suggests