Nanhua Futures(SH:603093) Nan Hua Qi Huo·2025-09-11 12:14Report Overview - The report is the Container Industry Risk Management Daily Report dated September 11, 2025, released by Nanhua Research Institute [1] Investment Rating - No investment rating for the industry is provided in the report Core Viewpoints - The container shipping index (European line) futures opened significantly lower and declined today. The short - term futures prices are likely to maintain a relative downward trend, but a rebound after reaching short - term lows should be guarded against. It is recommended to adopt a quick - in - and - quick - out strategy [3] Summary by Relevant Content EC Risk Management Strategy - For position management, if the position has been taken but the shipping capacity is full or the booked cargo volume is poor, and there are concerns about freight rate drops, one can short the container shipping index futures (EC2510) at 1300 - 1400 to lock in profits [2] - For cost management, if the shipping companies increase the number of blank sailings or the peak season is approaching, and one wants to book cabins according to orders, one can buy the container shipping index futures (EC2510) at 1000 - 1100 to determine the booking cost in advance [2] Core Contradiction - As of the close, all contract prices of the container shipping index (European line) futures declined. For the EC2510 contract, long positions increased by 2011 lots to 27563 lots, short positions increased by 943 lots to 28905 lots, and trading volume increased by 19234 lots to 36335 lots (bilateral) [3] - Maersk's new weekly opening quotation was lower than the previous value, and the price of 20 - foot containers fell below $1000. CMA CGM and Evergreen also followed to lower the European line quotations, dragging down the futures price valuation [3] 利多解读 (Positive Interpretation) - In July 2025, China's automobile exports continued to show a trend of increasing volume and price. The number of automobile exports was 694,000, a year - on - year increase of 25.6% and a month - on - month increase of 12.1%. The total import and export volume of automobile commodities was $24.98 billion, a year - on - year increase of 7% and a month - on - month increase of 6.4%. The export amount was $20.48 billion, a year - on - year increase of 13.6% and a month - on - month increase of 6% [4] EC Basis and Price Changes - The basis and price of each EC contract showed different degrees of daily and weekly changes on September 11, 2025. For example, the basis of EC2510 was 362.66 points, with a daily increase of 63.60 points and a weekly decrease of 110.24 points. The closing price of EC2510 was 1203.8 points, with a daily decrease of 5.02% and a weekly decrease of 7.45% [6][7] Spot Freight Quotations - Maersk's 20 - foot and 40 - foot container quotations for Shanghai - Rotterdam routes in mid - to - late September showed fluctuations. Some quotations increased slightly, while others decreased significantly. For example, on September 25, the opening quotation of 20 - foot containers decreased by $90 compared to the previous week [9] - CMA CGM and Evergreen also lowered their quotations for Shanghai - Rotterdam routes in mid - to - late September [9] Global Freight Index - The SCFIS European route index was 1566.46 points, a decrease of 11.68% compared to the previous value; the SCFIS US West route index was 980.48 points, a decrease of 3.30% [10] - The SCFI European route was $1315 per TEU, a decrease of 11.21%; the SCFI US West route was $2189 per FEU, an increase of 13.83% [10] Global Port Waiting Time - The waiting times of major global ports on September 10, 2025, showed different changes compared to September 9, 2025. For example, the waiting time at Shanghai Port increased by 0.251 days to 1.506 days, while the waiting time at Singapore Port decreased by 0.233 days to 0.690 days [17] Ship Speed and Waiting Ships - The speeds of container ships of different sizes on September 10, 2025, showed slight increases compared to September 9, 2025. For example, the speed of 8000 + container ships increased by 0.081 knots to 15.798 knots [25] - The number of container ships waiting at the Suez Canal port anchor decreased by 3 to 8 on September 10, 2025, compared to September 9, 2025 [25]