Freight futures listed in Shanghai surged this morning, buoyed by a fresh influx of cash that pushed up every contract, as a blank sailing notice from MSC strengthened conviction in the market that freight rates have found a floor at around $2,000 per FEU. The MSC blank sailing will cancel four voyages, removing a total of 60,442 TEU—equivalent to 5% of the capacity deployed in October. Even after this reduction, the average weekly capacity for October will remain at 293,341 TEU.
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