航运衍生品数据日报-20250903

Report Summary 1. Report Industry Investment Rating - No relevant information provided 2. Core View of the Report - The EC market showed an upward trend. The rise was mainly driven by MSC's announcement of two sailings cancellation during the National Day, the increased expectation of non - resumption of navigation in the Red Sea after the Houthi's retaliation against Israeli oil tankers, and the court's decision that Trump's so - called "reciprocal" tariffs were illegal. However, Maersk's lower opening price in wk38 narrowed the afternoon gains [7]. - The price adjustment of OCEAN's September freight rates accelerated, which might put pressure on NSK to cut prices for cargo. The spot market of OCEAN faced increasing cargo - picking pressure, leading to a freight rate callback. The 12 - contract price was likely to fluctuate weakly. The follow - up focus should be on whether MSK would cut prices and whether the freight rates could stop falling in mid - September, with a short - term possibility of falling below 1300 [8]. 3. Summary by Related Contents 3.1 Shipping Freight Index - The current values of SCFI comprehensive index, CCFI, SCFI - US West, SCFI - US East, SCFI - Northwest Europe, SCFIS - Northwest Europe, and SCFI - Mediterranean were 1445, 1156, 1923, 2866, 1481, 1773, and 2145 respectively. Their respective previous values were 1415, 1175, 1644, 2613, 1668, 1990, and 2225, with corresponding changes of 2.10%, - 1.58%, 16.97%, 9.68%, - 11.21%, - 10.90%, and - 3.60% [5]. 3.2 Shipping Futures Contracts - For contracts like EC2506, EC2608, etc., their current values, previous values, and changes are presented. For example, EC2506's current value is 1428.5, previous value is 1376.1, with a change of 3.81%. Also, information on contract positions and month - spreads is provided, such as the current EC2606 position is 890, a change of 23 from the previous value [5]. 3.3 Market News and Events - Yemen's Houthi rebels planned to avenge the death of important members in Israeli air strikes and continued to support the Palestinian people [6]. - The US Trade Representative's Office extended the exclusion list measures in the investigation of China's related behaviors under Section 301 until November 2025 [6]. - The US government planned to expand national security tariffs in the coming months, covering industries like steel, aluminum, semiconductors, etc. [6]. 3.4 Market Strategy - The recommended strategy is to short the 10 - contract on rallies and conduct a rolling 10 - 12 reverse spread [9].