航运期货：PA联盟上半月价格预计逐步调整，02合约博弈运价见顶时间

Group 1: Market Analysis - The shipping rates for various routes have been reported, with Maersk's Shanghai-Rotterdam rates for the first week of January at $1580/$2540 and the second week at $1560/$2500 [2][14] - The Ocean Alliance's CMA reported a rate of $1859/$3293 for the first half of January, while OOCL's rates for December were between $2730-$2752 [2][14] - The average weekly capacity for December was reported at 314,500 TEU, with January's average at 304,600 TEU [5][16] Group 2: Contract Adjustments - The Shanghai International Energy Exchange plans to revise the shipping index futures contract by adjusting the contract months to include the most recent 1-6 months and two seasonal months, excluding February [4][15] - The minimum price fluctuation will be changed from 0.1 points to 0.5 points to better align with current market conditions [4][15] Group 3: December Contract Settlements - The settlement prices for December contracts are becoming clearer, with the SCFIS index averaging 1589.2 points by December 22 [6][17] - The expected settlement price range for December contracts is estimated to be between 1600-1700 points, influenced by various market factors [6][17] Group 4: Future Contracts and Market Dynamics - The EC2602 contract is set to reflect the January end market prices, with Maersk's January second week rate at $2500/FEU [7][18] - The potential reopening of the Suez Canal in 2026 could increase effective capacity supply and further pressure freight rates downward [8][19] - As of December 23, the total open interest for the European shipping index futures was reported at 66,750 contracts, with a daily transaction volume of 51,004 contracts [9][20]