航运衍生品数据日报-20250528

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View of the Report The EC market is experiencing a volatile decline. Spot prices in May have slightly decreased, while airlines are attempting to raise June freight rates on European routes. The market is influenced by Sino - US tariff negotiations and demand recovery on US routes. The 06 - 08 contract spread is narrowing, and the strategy is to gradually take profits on long positions and arbitrage [9][10]. 3. Summary by Relevant Catalogs Shipping Derivatives Data - Container Freight Index: The Shanghai Export Container Freight Index (SCFI) has a current value of 1586, up 7.21% from the previous value. The China Export Container Freight Index (CCFI) is at 1107, up 0.23%. Different routes show various changes, such as SCFI - US West rising 5.95% and SCFIS - Northwest Europe falling 1.44% [5]. - EC Contracts: Most EC contracts show a decline, e.g., EC2506 has a current value of 1782.0, down 3.23%. The open interest of some contracts has decreased, like EC2506 open interest dropping by 1956. The monthly spreads also show minor changes [5]. Market News - Tariff News: China will reduce tariffs on US goods from 125% to 10% for 90 days, and the US will cut tariffs on Chinese goods from 145% to 30% for 90 days. Trump may set new tariff rates for many trading partners in 2 - 3 weeks, and the US threatens to impose 50% tariffs on the EU starting June 1st [6][7][8]. - Other News: The fourth - round Japan - US tariff negotiation is scheduled for the 30th. A Palestinian official says Hamas agrees to a Gaza cease - fire proposal, but Israel refutes it [7][8]. EC Market Analysis - Spot Market: The average price of May spot is between 1700 - 1800$/FEU, with a slight decline. Airlines try to raise June freight rates on European routes to 3200 - 3300$/FEU [9]. - Futures Market: After the Sino - US negotiation results, the contracts first rose and then entered a volatile phase. The 06 - 08 contract spread is narrowing as the market focuses more on the 06 contract [9]. Strategy - The strategy is to gradually take profits on long positions and arbitrage [10].