Following SCFIS’s 31% WoW move on 13 Nov, CoFIF went limit up at the open on the
next day (14 Nov) but gave back more than half of the gain. The market went
seesaw rest of the week. The CoFIF traders have been holding a view that the
SCFIS will be about 750-880 for next year where the spot SCFIS has been swinging
between 600 and 850.
While the SCFIS seems to track the SCFI with 2 weeks lag but the relation
between the two is not linear. SCFI’s Asia Europe rate is expressed in $ per 20’
dry whil