集运指数（欧线）：高位震荡，6-8反套减仓止盈，10-12反套持有

Report Industry Investment Rating - Not provided in the given content Core Viewpoints - The container shipping index (European Line) is in a high - level oscillation. It is recommended to reduce positions and take profits on the 6 - 8 reverse spread, and hold the 10 - 12 reverse spread. Pay attention to the new order booking progress in the first week of June and the actual impact on European line capacity. For EC2510, look for opportunities to short at high prices driven by price increases in the medium - to - long term [14]. Summary by Relevant Catalogs 1. Fundamental Tracking - Futures Data: EC2506 closed at 1,725.9 points, up 1.32% with a trading volume of 28,893 and an open interest of 25,555 (a decrease of 2,767). EC2508 closed at 2,263.1 points, down 2.8% with a trading volume of 78,252 and an open interest of 51,770 (a decrease of 2,281). EC2510 closed at 1,436.0 points, down 0.09% with a trading volume of 17,447 and an open interest of 24,087 (a decrease of 149) [1]. - Freight Rate Index: The SCFIS European route was at 1,265.30 points, down 2.9% week - on - week; the SCFIS US West route was at 1,446.36 points, down 0.6% week - on - week. The SCFI European route was at $1,154/TEU, down 0.6% bi - weekly; the SCFI US West route was at $3,091/FEU, up 31.7% bi - weekly [1]. - Spot European Line Freight: Different carriers' Shanghai - Rotterdam or Antwerp freight rates range from $1,637 - 2,179/40'GP and $1,011 - 1,305/20'GP [1]. - Exchange Rate: The US dollar index was at 100.03, and the US dollar against the offshore RMB was at 7.21 [1]. 2. Macro and Industry News - Geopolitical News: US intelligence shows that Israel is preparing to strike Iranian nuclear facilities, but the final decision has not been made, which may lead to a wider regional conflict in the Middle East [14]. - Market Trends: The container shipping index was in a high - level oscillation yesterday. EC2506 was relatively strong, and EC2508 was weak. The spot freight may rise slightly at the end of May. The first - round FAK implementation is better than expected, and the current 06 - converted freight is fairly valued. EC2508 has factored in expectations such as US line rush shipments. The US line container volume from China decreased in mid - April and bottomed out in early May, and the loading rate has rebounded to 97%. October is the traditional off - season for the European line [14].