航运衍生品数据日报-20250918

Report Summary 1. Report Industry Investment Rating There is no information about the industry investment rating in the provided content. 2. Core Viewpoints - The 10 - contract of EC is relatively weak due to the resumption of China - Europe freight trains on Wednesday, while it was strong following the overall commodity sentiment on Tuesday. The 12 - contract was supported by factors such as the suspension of China - Europe freight trains, National Day sailing suspension expectations, and price - holding, and showed strength on Monday [9]. - In the European shipping market, based on IPMI data, the cargo volume will bottom out in October and turn around in November. From late September to late October, shipping companies will "compete for cargo", but the "ROLLINGPOOL" strategy in the off - season may intensify the decline in freight rates. It is expected that the offline freight rates will fall back to the low point in May this year in late October, and shipping companies will start signing contracts to support prices after the cargo volume recovers in November. Although some shipping capacity will not resume after the National Day holiday, the impact of reducing ships in the off - season on the market is limited [10]. 3. Summary by Relevant Content 3.1 Shipping Freight Index - Shanghai Export Container Freight Index (SCFI): The current value is 1398, with a previous value of 1444 and a decline of 3.21% [6]. - China Export Container Freight Index (CCFI): The current value is 1125, with a previous value of 1149 and a decline of 2.07% [6]. - SCFI - West America: The current value is 2370, with a previous value of 2189 and an increase of 8.27% [6]. - SCFIS - West America: The current value is 1349, with a previous value of 980 and an increase of 37.65% [6]. - SCFI - East America: The current value is 3307, with a previous value of 3073 and an increase of 7.61% [6]. - SCFI - Northwest Europe: The current value is 1154, with a previous value of 1315 and a decline of 12.24% [6]. - SCFIS - Northwest Europe: The current value is 1440, with a previous value of 1566 and a decline of 8.05% [6]. - SCFI - Mediterranean: The current value is 1738, with a previous value of 1971 and a decline of 11.82% [6]. 3.2 Shipping Derivative Contracts - Contract Prices: For contracts EC2506, EC2608, EC2510, EC2512, EC2602, and EC2604, the current values are 1468.7, 1616.7, 1109.7, 1672.0, 1578.8, and 1285.0 respectively, with corresponding changes of - 0.20%, - 0.57%, - 5.13%, - 0.11%, 0.43%, and 0.10% [7]. - Contract Positions: For positions EC2606, EC2608, EC2410, EC2412, EC2602, and EC2604, the current values are 924, 439, 49609, 20437, 7105, and 8334 respectively, with changes of (33), (5), 2092, 678, 386, and 101 [7]. - Monthly Spreads: For spreads 10 - 12, 12 - 2, and 12 - 4, the current values are - 562.3, 93.2, and 387.0 respectively, with changes of (58.2), (8.5), and (3.1) [7]. 3.3 Spot Prices - GEMINI: The overall average in September is 1600, with Maersk's wk38 opening at 1700, HPL - QQ at 1750 in late September, and HPL - SPOT at 1550 [10]. - OA: The overall average is 1800, with CMA at 2000, OOCL at 1650, and EMC at 1900 [10]. - PA: The overall average is 1700, with ONE at 1800 and HMM at 1600 [10]. - MSC: The price in late September is reported at 1750 [10].