Asia-North Europe CoFIF freight futures retreated sharply on 29 April on fears that ceasefire talks taking place in Egypt this week could drag down freight rates before the end of the year. Contracts for October 2024 (EC2410) were most badly hit, dropping to 2,169 after reaching a peak of 2,765 last week. The latest EC2410 futures remain on par with the current SCFIS at 2,175 points, with EC2406 and EC2408 contracts still trading at a significant premium to the current SCFIS spot rate index at 2