EC2508, Shanghai’s benchmark freight futures contract, slid further in the afternoon session, closing at 1,949.5—dashing hopes that the market had found a floor at yesterday’s low - 1,987. The culprit, once again, was Maersk, which opened its FAK (Freight All Kinds) quotation for the second week of June at $2,100 per FEU. Yet, almost as soon as shippers began booking at that rate, the offer was abruptly raised to $2,231, rendering the initial price little more than a lure.
With the Shanghai Con