Total 461 Posts
MSC announced its Golden Week blank sailings program at the start of last week, triggering a brief double-digit jump in EC futures prices and lifting daily trading volumes above 100,000 contracts for the first time since mid-July. However, open interest hovered at only 80,000 contracts with traders reluctant to hold large overnight positions. The much-anticipated Gemini announcement of its own blank sailing plan on 4 September disappointed with just a single sailing removed in October. Average
The Asia-North Europe rate slump received no respite after carriers abandoned the 1 Sept rate push and allowed rates to fall further as the SCFI rates dropped by 9.5% to $2,096/feu while the SCFIS fell by 11.7% in its sharpest weekly drop since February. Carriers’ reluctance to remove surplus capacity continues to be the bane of the market, with the limited Golden Week blank sailing program in early October a further sign the lack of discipline. Gemini carriers in particular will take out just
The futures opened higher on Maersk's blank sailing announcement but reversed course through the morning as traders judged that the blankings would not be sufficient to halt the spot rate decline. Bottom fishers then entered the market before HMM’s rate cut (from $2,100 to $1,700 per FEU) on next week’s sailings sent shockwaves through the market. Liquidation for EC2510 continued while the open position for EC2512 remain depressed.
The idle containership fleet continued to creep upwards to reach 148,000 teu or 0.5% of the total fleet this week, driven entirely by the redelivery of 15 of SeaLead’s OFAC sanctioned ships that has added 67,400 teu to the idled fleet capacity after they completed cargo discharge. SeaLead has confirmed that it has permission from OFAC to load empty containers from the Med on one remaining 6,882 teu ship that is currently making its way back to Asia. SeaLead has not been able to replace these re
Asia-Europe freight rates continued to slide, with both the SCFI and SCFIS indices recording accelerated declines. Carriers have largely abandoned any hopes for a September rate push, and are shifting their attention to filling their ships and building up cargo roll pools ahead of the Golden Week holidays in October. Carriers have only themselves to blame for their current predicament given the total absence of capacity withdrawals necessary to arrest the declining freight rates. Their willingn
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
Freight futures listed in Shanghai surged this morning, buoyed by a fresh influx of cash that pushed up every contract, as a blank sailing notice from MSC strengthened conviction in the market that freight rates have found a floor at around $2,000 per FEU. The MSC blank sailing will cancel four voyages, removing a total of 60,442 TEU—equivalent to 5% of the capacity deployed in October. Even after this reduction, the average weekly capacity for October will remain at 293,341 TEU. Buying intere
Freight futures contracts listed in Shanghai continued to decline. Trading volume remains steady but low, while open interest continues to rise. The main news concerns ONE reducing its quotation for shipments by $200 to $2,143 per FEU, and Hapag Lloyd lowering its rate for shipments departing in the last week of September by $200 to $1,835 per FEU.
Freight futures contracts in Shanghai experienced a sharper decline today compared to the average movements of the past two months, as traders showed increased conviction. The drop remains primarily driven by short sellers, while some buyers who believe the market is nearing a bottom continue to step in. As a result, both short and long positions attracted fresh capital, leading to a rise in open interest.
Freight futures contract prices continued to decline in response to the liners’ latest pricing actions. The primary selling pressure emerged in the afternoon, with most contracts closing near their intraday lows. Liquidity fell further to 25,424 contracts—the lowest level since April 2024. Open interest edged up slightly.