集运早报-20250725

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - The European line shipping market has certain support, with a good loading rate but a marginal weakening of cargo volume. The weekly average capacity in August is as high as 320,000 TEU, a month - on - month increase of 8%. The cargo volumes in weeks 32, 33, 34, and 35 are 343,000, 305,000, 320,000, and 305,000 TEU respectively [2]. 3. Summary by Relevant Catalogs 3.1 Futures - Futures Contracts Price and Changes: The closing prices, price changes (%), basis, trading volumes, open interests, and open interest changes of different EC futures contracts (EC2508, EC2510, EC2512, EC2602, EC2604, EC2606) are presented. For example, EC2508 closed at 2244.9 with a 0.23% increase, and its open interest decreased by 1355 [2]. - Futures Month - to - Month Spreads: The spreads between different contract months (EC2508 - 2510, EC2510 - 2512, EC2512 - 2602) are given, along with their changes compared to the previous days and week - on - week changes. For instance, the spread of EC2508 - 2510 was 661.0, a decrease of 41.7 from the previous day and an increase of 8.1 week - on - week [2]. 3.2 Spot - Spot Price Indexes: The values, update frequencies, release dates, and changes of several spot price indexes (SCEIS, SCFI, CCFI, NCFI, TCI) are provided. For example, SCEIS on July 21, 2025, was 2400.5 points, a 0.89% decrease from the previous period but a 7.26% increase from two periods ago [2]. - European Line Supply - Demand and Quotes: In August, the weekly average capacity of the European line is 320,000 TEU, a month - on - month increase of 8%. Cargo volumes in weeks 32 - 35 are 343,000, 305,000, 320,000, and 305,000 TEU respectively. In July, the quotes remained stable at around 2400 points. In August, some shipping companies announced price increases, while MSK had price adjustments. Currently, the actual quotes of PA Alliance decreased by 200 - 300 to 3100 US dollars, and some of MSK's routes had price increases [2]. 3.3 News - International News: On July 24, Israeli Prime Minister Netanyahu stated that Israel would not yield to Hamas in the cease - fire negotiations. On July 25, French President Macron announced that France would recognize the State of Palestine in September [2]. 3.4 Shipping Company Quotes - Online Quotes Structure: The online quotes structures (40GP and converted to the underlying) of shipping companies (EMC, HMM, HPL, MSK, MSC, ONE, OOCL) from July 4 to July 24 are presented [3][4]. 3.5 Seasonal Trends - European Line Spot Freight Rate Indexes: The seasonal trends of SCFIS, SCFI, TCI, NCFI, XSI - C (European line) and other shipping routes' TCI (including Mediterranean East, Mediterranean West, East Africa, Persian Gulf, South Africa, West Africa, etc.) are shown [7].