The freight futures market edged higher again today, though the main activity was a continued liquidation of EC2510 positions. The 1.1% rise in EC2510 was therefore largely the result of short covering. Despite pricing in a downcycle over the next 12 months, futures traders remain firmly of the view that (1) liners will be able to push up freight rates during each seasonal uplift in volume, and (2) $2,000 per FEU is a strong resistance level.
The SCFI Europe index, released after the close, fel