集运早报-20250929

Report Summary 1. Report Industry Investment Rating - No information provided in the content 2. Core View of the Report - After the holiday, there are multiple upward drivers including multiple price increase announcements, high operational space for shipping companies such as speed reduction and suspension of voyages, and the long - term agreement signing season from December to January. However, the economies in Northwest Europe are deteriorating and new ships are being launched successively. Overall, the valuations of contracts 12 and 02 are already high, and it is not recommended to chase the high prices. The short - term trend is expected to be volatile. Contract 04 currently has a high valuation, and as an off - season contract, it is more suitable for short - selling in the short term, but attention should be paid to the low liquidity which may cause short - term fluctuations [2] 3. Summary by Relevant Catalogs 3.1 Futures Contract Information - For EC2510, the closing price was 1139.0, with a decline of 2.90%, a basis of 115.9, trading volume of 22035, and open interest of 32431 with a decrease of 3095 [1] - For EC2512, the closing price was 1777.0, a decline of 0.34%, a basis of - 522.1, trading volume of 19314, and open interest of 21695 with a decrease of 1300 [1] - For EC2602, the closing price was 1685.0, a decline of 0.66%, a basis of - 430.1, trading volume of 6466, and open interest of 8768 [1] - For EC2604, the closing price was 1268.6, a decline of 1.28%, a basis of - 13.7, trading volume of 1657, and open interest of 9099 with an increase of 142 [1] - For EC2606, the closing price was 1483.5, an increase of 0.08%, a basis of - 228.6, trading volume of 97, and open interest of 938 with a decrease of 14 [1] - The spread of EC2510 - 2512 was - 638.0, with a day - on - day decrease of 27.9 and a week - on - week decrease of 77.8 [1] - The spread of EC2512 - 2602 was 92.0, with a day - on - day increase of 5.1 and a week - on - week increase of 11.7 [1] 3.2 Spot Index Information - The SCHIS SCFI (European line) index was 1254.92 points on September 22, 2025, a decrease of 12.87% from the previous period and 8.06% from two periods ago. The price was 971 dollars/TEU on September 26, 2025, a decrease of 7.70% from the previous period and 8.84% from two periods ago [1] - The CCFI index was 1401.91 points on September 26, 2025, a decrease of 4.69% from the previous period and 4.31% from two periods ago [1] - The NCFI index was 614.14 points on September 26, 2025, a decrease of 8.83% from the previous period and 7.65% from two periods ago [1] 3.3 European Line Quotation Situation - For week 39 (end of September), the average quotation was 1600 US dollars (equivalent to 1150 points on the futures market). MSK quoted 1500 US dollars (later increased to 1570), PA Alliance quoted 1550 - 1600 US dollars, and OA Alliance quoted 1600 - 1720 US dollars [3] - For weeks 40 - 41 (beginning of October), the average quotation was 1450 US dollars (equivalent to 1020 points on the futures market). MSK quoted 1400 US dollars, PA quoted 1300 - 1500 US dollars (YML's 1300 US dollars was the lowest price of the year), and OA quoted 1400 - 1600 US dollars [3] - For week 42, MSK's opening quotation was 1800 US dollars (a 400 - dollar increase from the previous period), and other shipping companies successively announced post - holiday price increases to 2000 US dollars [3] 3.4 Related News - On September 29, Trump claimed that the Middle East peace agreement "will surely be reached". He will meet with Israeli Prime Minister Netanyahu on Monday to finalize the agreement framework [4] - On September 28, Hamas stated that it had not received a new cease - fire proposal, and the Israel - Palestine negotiations were at an impasse [4] - On September 28, the Israeli Defense Minister said that it would not stop military operations in the Gaza Strip [4]