集运指数日报-20250918

Report Information - Report Title: Container Shipping Index Daily Report [1] - Date: September 18, 2025 [2] - Research Team: Macro Financial Team [4] - Researchers: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] 1. Report Industry Investment Rating - Not provided in the content 2. Core Viewpoints - This week, the SCFIS dropped below 1500 points for nine consecutive weeks. Online quotes in the second half of September were further reduced, with the lowest price falling below $1600 per 40 - foot container. The price shows a smooth downward trend in the off - season with an increasing decline. There is currently no significant increase in blank sailings compared to last year, while the overall shipping capacity has increased. There may be low - buying opportunities in December, and the October contract is recommended to be short - sold on rallies [8]. 3. Summary by Directory 3.1 Market Review and Operation Suggestions - Market Condition: The SCFIS has been falling for nine consecutive weeks, dropping below 1500 points. Online quotes in the second half of September were further reduced, with large - container quotes from shipping companies showing a downward trend. For example, Maersk's quotes for the Shanghai - Rotterdam route in the third and fourth weeks of September were $1669/GP and $1590/GP respectively, about $400 lower than in the first half of the month, and OOCL's quotes in the second half of the month were $1600 - 1700/GP, about $200 lower than before [8]. - Operation Suggestions: As the current blank - sailing scale is not significantly higher than last year and the overall shipping capacity has increased, attention should be paid to whether blank - sailing efforts will be increased later to support the freight rate bottom. The tense situation in the Middle East may support far - month contracts. There may be low - buying opportunities in December, and the October contract is recommended to be short - sold on rallies [8]. 3.2 Industry News - China's Export Container Shipping Market: From September 8 to 12, the China Export Container Shipping Market was generally stable, with freight rates falling on most routes, dragging down the composite index. In August, China's exports increased by 4.4% year - on - year in US dollars, showing the resilience and vitality of China's foreign trade. On September 12, the Shanghai Export Container Composite Freight Index was 1398.11 points, down 3.2% from the previous period [9]. - European Routes: In August, China's exports to Europe increased by 10.4% year - on - year, and the trade volume between China and the EU in the first eight months increased by 4.3% year - on - year, accounting for 13.1% of China's total foreign trade. However, this week, there was no further growth in transportation demand, and the market freight rate continued to adjust. On September 12, the freight rate from Shanghai Port to basic European ports was $1154/TEU, down 12.2% from the previous period [9]. - Mediterranean Routes: The market situation was similar to that of European routes, with spot booking prices continuing to decline. On September 12, the freight rate from Shanghai Port to basic Mediterranean ports was $1738/TEU, down 11.8% from the previous period [9][10]. - North American Routes: In August, the US non - farm sector added 22,000 jobs, far lower than market expectations, and the unemployment rate rose to 4.3%, the highest since 2021. China's exports to the US in August decreased by more than 30% year - on - year. However, this week, transportation demand remained stable, driving the market freight rate up. On September 12, the freight rates from Shanghai Port to basic ports in the US West and East were $2370/FEU and $3307/FEU respectively, up 8.3% and 7.6% from the previous period [10]. - Middle East Tension: Since September 8, the situation in the Middle East has become tense again. Israel has increased its attacks on the Gaza Strip, and there have been a series of attacks and counter - attacks. The tense situation may support far - month container shipping contracts [10]. 3.3 Data Overview 3.3.1 Container Shipping Spot Prices - SCFIS for European Routes: On September 15, 2025, the SCFIS for European routes was 1440.24 points, down 126.22 points (- 8.1%) from September 8 [12]. - SCFIS for US West Routes: On September 15, 2025, the SCFIS for US West routes was 1349.84 points, up 369.36 points (37.7%) from September 8 [12]. 3.3.2 Container Shipping Index (European Routes) Futures Market - Futures Trading Data: On September 17, for contracts such as EC2510, EC2512, etc., there were different changes in prices, trading volumes, and open interests. For example, the EC2510 contract had a closing price of 1109.7, a drop of 79.9 points (- 6.72%), with a trading volume of 43,546 and an open interest of 49,609, an increase of 2092 [6]. 3.3.3 Shipping - Related Data Charts - The report provides multiple charts, including the Shanghai Export Container Settlement Freight Index, container shipping futures contract trends, European container ship capacity, global container ship orders, and Shanghai - Europe freight rates, etc., to visually display relevant data [13][17][19]