CICC Wealth Futures: Maersk and Hapag-Lloyd announced increases in May European route freight rates one after another, providing some support to the market.

The European route futures market saw a slight rebound, with market trading activity easing somewhat. On the fundamental side, amid expectations of the seasonal cycle transition in the shipping market, Maersk and Hapag-Lloyd announced freight rate increases for May on the European route, providing some support to the market. However, shipping capacity remains ample, and whether actual freight rates can follow the increase still depends on additional cargo volume. It is recommended to stay cautious and observe the changes in price spreads between near-term and longer-term contracts. (CICC Wealth Futures)

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