Freight futures listed in Shanghai extended their decline from the final hour of yesterday’s session (2 Sep), as traders began to question whether MSC’s blanking of four voyages would be enough to offset the expected volume dip in the first half of October. In the physical market, however, liners continue to cut quotations for September FAK shipments, with Gemini operators reducing their offers to USD 1,650–1,700 per FEU.
Trading volume fell sharply from yesterday’s 117,491 contracts to 40,534