建信期货集运指数日报-20250723

Report Information - Report Title: Container Shipping Index Daily Report [1] - Date: July 23, 2025 [2] - Research Team: Macro Financial Team [4] - Researchers: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] Core Viewpoint - The peak of the peak season for spot freight rates is about to appear. The SCFIS this week has dropped by about 21 points to around 2400 points compared with last week. Online quotes are relatively stable. After the continuous repair of the 08 contract, the current discount space is relatively limited. Attention should be paid to the short - selling opportunities in October, a traditional off - season, and the positive spread arbitrage opportunities between 08 - 10 contracts [8] Industry News - From July 14 to July 18, the China export container shipping market was basically stable, with most route market freight rates falling, dragging down the composite index. The Shanghai Export Container Composite Freight Index on July 18 was 1646.90 points, a 5.0% drop from the previous period [9] - In the first half of 2025, China's goods trade imports and exports increased by 2.9% year - on - year, with exports increasing by 7.2% year - on - year, which will support the Chinese export container shipping market in the long term [9] - The eurozone's July ZEW economic sentiment index rose to 36.1, and Germany's July ZEW economic sentiment index reached 52.7, a new high since February 2022, indicating that the European economy continues to recover [9] - Trump announced a 30% tariff on goods imported from the EU starting from August 1, and the EU drafted a tariff list for US services in response, so Sino - European trade still faces great uncertainty [9] - On July 18, the market freight rate from Shanghai Port to European basic ports was 2079 US dollars/TEU, a 1.0% drop from the previous period; the market freight rate to Mediterranean basic ports was 2528 US dollars/TEU, a 5.2% drop from the previous period [9][10] - In June, the US CPI rose 0.3% month - on - month and 2.7% year - on - year, the highest in four months. The market freight rates from Shanghai Port to the US West and East basic ports on July 18 were 2142 US dollars/FEU and 3612 US dollars/FEU respectively, down 2.4% and 13.4% from the previous period [10] - Due to the continuous blockade of the Red Sea by the Yemeni Houthi rebels, Eilat Port in Israel has stopped all operations since July 20, which may weaken Israel's shipping logistics capacity in the Red Sea and trigger potential security concerns [10] - Trump said the US will maintain a 25% tariff on Japanese goods and may soon reach a trade agreement with India. The US has also reached agreements with Indonesia and notified some Southeast Asian countries of new tariff rates [10] - The leader of the Yemeni Houthi rebels said that as long as Israel continues to invade and blockade Gaza, the Houthi rebels will continue to ban ships related to Israel from passing through the Red Sea, the Gulf of Aden and the Arabian Sea [10] Data Overview Container Shipping Spot Prices - On July 21, 2025, the SCFIS for the European route (basic ports) was 2400.5 points, a 0.9% drop from July 14; the SCFIS for the US West route (basic ports) was 1301.81 points, a 2.8% increase from July 14 [12] Container Shipping Index (European Line) Futures Quotes - The trading data of container shipping European line futures on July 22 shows that different contracts have different price changes, trading volumes, open interests and position changes. For example, the EC2508 contract closed at 2249.7 points, down 2.20% [6] Shipping - Related Data Charts - The report provides multiple charts, including the Shanghai Export Container Settlement Freight Index, container shipping European line futures contract trends, global container shipping capacity, global container ship orders, and Shanghai - European basic port freight rates [13][17][22]