EC2510, the benchmark contract for Far East–North Europe freight futures listed in Shanghai, is currently the most hotly contested in the market. Bulls argue the contract is undervalued based on technical analysis—price charts suggest a bottom is forming around 1,450—while bears point to fundamental signals from the physical market, noting freight rates peaked during the last two weeks of July.
On Wednesday (July 30), EC2510 opened higher on strong volume as bulls speculated that a typhoon appr