Post by NYSHEX

Asia-North Europe rates are up $1,000 in a single month. The July futures peak moved up $750 in one week. CMA-CGM just announced a $4,000 peak season surcharge effective July 10th. Lars Jensen is skeptical the full $4,000 sticks, but he is not skeptical about the direction. The market is genuinely bullish and the driver is not Hormuz. It is supply and demand. This week's episode breaks down the rate picture on Asia-North Europe and Asia-USWC, the Hormuz memorandum of understanding and why the strait has not actually reopened, and why El Niño is no longer a scenario to plan for but a baseline. 🎧 Tune in for the full episode wherever you podcast. 📉 Want the podcast CliffsNotes in your inbox every week? https://lnkd.in/e_WRKFwB #DeliverThroughVolatility #NYFI #NYSHEX #OceanFreight #PeakSeason