It has been a volatile week in the CoFIF market that saw a limit-down day last
Tuesday (9 Jan) and a big rally on Friday (12 Jan). Nevertheless, liquidation in
the CoFIF market continued for the 3rd week albeit at slower pace. Open
interests in CoFIF peaked on 22 December and have since fallen 69%.
Further volatile trading is expected this week after the SCFI’s 8.1% gain on the
Asia-North Europe route and the SCFIS which jumped by a further 49.7% on 15 Jan
after the previous week’s 70.9% rise.