CoFIF trading volume slumped to a new low of 10,101 lots last Friday (9 March 2024) as speculative sentiment cooled. Based on an estimated ratio of one lot to 10 teu, the reduced CoFIF daily trading volumes still amounts to 100,000 teu, which provides significant market liquidity that matches the daily turnover of the dry bulk FFA which has a longer trading history. However, CoFIF is digitally traded as opposed to dry bulk FFAs that trade over-the-counter. Open interest, an indicator of traders