Europe Shipping Container Futures EC2606 Hits Phase High on Wednesday, Up on Strong Demand

GateNews
According to Huailian Futures research, on Wednesday (May 20), the main contract for Europe's container shipping route (EC2606) accelerated higher, reaching a new phase high, driven by strong long sentiment ahead of the peak shipping season. The SCFIS Europe index closed at 1,709.43 points, up 0.98% week-over-week, while the broader SCFI composite index rose 9.54% to 2,140.66 points. Europe route freight rates surged 13.78% over the week. With June marking the traditional peak shipping season and ongoing Middle East geopolitical tensions, shipping lines are showing increased pricing power, supporting higher rate expectations.
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