EC2510, the benchmark contract for Far East–North Europe freight futures listed in Shanghai, is currently the most hotly contested in the market. Bulls argue the contract is undervalued based on technical analysis—price charts suggest a bottom is forming around 1,450—while bears point to fundamental signals from the physical market, noting freight rates peaked during the last two weeks of July. On Wednesday (July 30), EC2510 opened higher on strong volume as bulls speculated that a typhoon appr
EC2510 closed at the day’s low of 1460, which is close to last week’s lowest point—a level some traders view as a technical bottom. However, this support will likely be tested tomorrow after Maersk released a quotation of $2,800 per FEU for shipments departing in the second week of August, following the market close. Hapag Lloyd had already lowered its quotation to $2,835 per FEU for shipments departing in the first week of August. Only 51,000 contracts were traded today, while open interest dro
The freight futures market in China continued its volatile trajectory, driven by a broadly bearish consensus that has kept the forward curve in backwardation. However, intermittent speculative bets—fueled by hopes of further freight rate increases in August and expectations of a relatively mild slack season—have pushed futures prices higher at times. Following a couple of days of declines on Tuesday (22 July) and Wednesday (23 July), which were triggered by Maersk’s significantly low spot rate
The freight futures for the Far East to North Europe route rebounded slightly today, as traders continue to debate the extent of correction the physical market may experience in the coming months. Uncertainty remains regarding the potential peak of spot freight rates. Maersk has issued a notice announcing an increase in its peak season surcharge (PSS) from $100 per FEU to $500 per FEU effective 1 August. With this adjustment, Maersk's FAK rate will rise to approximately $3,500 per FEU from 1 Au
The European Contracts retreated after Hapag Lloyd published a quotation of $2,935 per FEU for shipments departing on July 29, which was announced after the market closed yesterday. EC2510 staged an intraday rebound in the afternoon, as some traders are still betting on a possible surprise in October, traditionally a seasonal trough. However, the counter still closed near the day's low. Trading sentiment continued to decline after reaching its peak at the market open yesterday. From our channel
EC staged a surprise rally yesterday (15 July), with EC contracts surging 5–16%. This move allowed them to catch up with the strength seen in the spot market, where liners have been increasing freight rates, albeit at a slower pace than initially planned. Both EC2510 and EC2512 contracts reached their daily upper trading limit yesterday, although they retraced some of their gains today (16 July). The rally was primarily driven by a wave of fresh buying interest. Open interest rose sharply to 86
Freight futures contracts rose by 0.5–4% today amid higher volumes and increased open interest. Traders were surprised by the resilience of the spot market, which many had believed had peaked a fortnight ago. Vessel utilisation remained robust, despite weekly capacity exceeding 300,000 TEU over the past two weeks.
Freight futures in Shanghai declined across the board as buyers, having seized upon recent strength in the physical market, moved to unwind their positions. Open interest dropped to 73,658, the lowest since October 2024. Maersk swiftly raised its quote for shipments departing in the fourth week of July to $3,090 per FEU, up from $2,990 at its launch just a day earlier. Meanwhile, OOCL and ONE are cutting rates for near-term cargoes, leaving CMA CGM’s $4,745 per FEU quote for August shipments lo
Freight futures listed in Shanghai edged higher today, supported by a modest but positive movement in Maersk’s freight rate quotations. After the market closed yesterday (9 July), Maersk published a new rate of $2,990 per FEU for Shanghai to Rotterdam shipments in the fourth week of July, compared to last week’s rate of $2,980 per FEU for the third week of July. The latest quotation quickly rose to $3,000 per FEU, indicating strong buying interest at this level.
After a day of mark-to-market trading yesterday (8 July), futures participants retreated to the sidelines today (9 July), awaiting the next catalyst. Market consensus remains stubbornly bearish, with most expecting freight rates to decline. The principal concern among traders is not a sudden surge in rates, but rather that time may run out for a meaningful drop before the August contract expires. Both daily volume and open interest dropped sharply day to day today. Vessel utilisation continues