CoFIF’s April contracts (EC2404) soared to a new high on 27 December but retreated on the last 2 trading days of the year to close at to 1,643 as the traders unwinded some of their pairs (long EC2404 and short EC2412). Market conviction weakened with Open Interest balance dropping through the week to end down by 50% WoW, with Maersk’s decision to resume Suez transits earlier last week dragging down the forward expectations. The latest SCFIS assessment on 1 January for the Asia-North Europe rout