集运指数（欧线）：空单酌情持有，或延续弱势

1. Report Industry Investment Rating - No relevant information provided 2. Core View of the Report - The market fundamentals of the container shipping index (European line) are expected to face further pressure, with a likely pattern of reduced supply and demand in September. The trading logic for the main 2510 contract remains to go short on rallies. The impact of the anti - involution policy on the container shipping industry is currently limited, and attention should be paid to the influence of Sino - US tariff negotiations on the macro sentiment of EC. It is recommended to hold short positions for the 2510 contract [10]. 3. Summary by Related Catalogs 3.1 Futures Market Performance - The container shipping index (European line) showed weak operation yesterday. The main 2510 contract closed at 1425.1 points, down 4.66% and reduced positions by 3056 lots; the second - main 2512 contract closed at 1692.3 points, down 3.59% and reduced positions by 45 lots; the near - month 2508 contract closed at 2121.6 points, down 0.66% and reduced positions by 724 lots [7]. 3.2 Spot Freight Rates - The PA alliance increased the price - cut intensity, with the market freight rate center in the 2nd adjustment of August falling to the range of $3100 - 3200/FEU. Different alliances and shipping companies also adjusted their freight rates, such as the Gemini alliance, Maersk, and the 20A alliance. The PA alliance's weekly price - cut range expanded to $400/FEU, and the MSG 33 - week shipping schedule was adjusted down by $300 to $3340/FEU [8]. 3.3 Fundamentals (Supply - side) - In the supply - side, the AEU3 canceled sailings in week 34. Cosco & OOCL made ship - axis adjustments. Maersk's overtime ship MAERSK EMDEN confirmed its port calls. August's weekly capacity was slightly revised up from 32.4 million TEU to 32.7 million TEU, with extremely high capacity pressure in week 34. September's weekly capacity was revised down from 32.1 to 31.8 million TEU, a - 3% month - on - month decrease compared to August, a + 5.7% increase compared to July, and on par with April's capacity level [9]. 3.4 Market Trends and Strategies - From a monthly perspective, September is likely to see a pattern of reduced supply and demand, but the decline in the currently - counted capacity may be less than that in demand. The trading logic for the main 2510 contract is to go short on rallies. It is recommended to hold short positions for the 10 contract [10].