Expect High Asia-North Europe Shipping Rates Until October

Get ready for continued high shipping costs from Asia to North Europe. Experts predict prices will stay elevated at least until October, fueled by China’s booming container shipping futures market and the coming peak season in Q3.

This forecast comes amidst a shortage of available ships and containers. The key EC2408 contract, reflecting August deliveries, closed at $4,192 yesterday, reflecting a rise from $3,933 the week before. Interestingly, the EC2406 contract (deliveries in June) dipped slightly to $3,976 from $4,009.

Analysts at Linerlytica point out the market’s focus is shifting towards the EC2408 contracts as the June contract nears expiry on June 24th.  This shift is further emphasized by the surge in trading volume for EC2408 contracts. Daily trading volume for these contracts doubled to over 80,300 last week, compared to 36,882 the week prior.

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