建信期货集运指数日报-20251024

Report Overview - Report Type: Container Shipping Index Daily Report [1] - Date: October 24, 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 report 2. Core Viewpoints - In October, being the traditional off - season with limited capacity control and supply pressure, the container shipping spot freight rates are continuously falling. However, shipping companies are raising rates for the second half of October and November in preparation for the year - end long - term contract season. Although the rate increase may not fully materialize, a bottom - up trend is likely to form, and the bottom of freight rates for the year may have been reached. The December contract has an opportunity for oversold recovery due to the Israel - Hamas conflict affecting the Red Sea route [8]. - The China export container shipping market continued its rebound this week. The overall transport demand was stable, and the freight rates on ocean routes increased, driving up the comprehensive index. China's exports in September showed positive growth, especially to the EU, which was the main growth driver in the export market [9]. 3. Summary by Directory 3.1行情回顾与操作建议 (Market Review and Operation Suggestions) - Spot Freight Situation: In October, the traditional off - season, with limited capacity control, the supply pressure remains, and the spot freight rates are falling. Shipping companies are raising rates for the second half of October and November. For example, Maersk's rates for the Shanghai - Rotterdam route increased. Although the rate increase may not fully materialize, the freight rates are likely to bottom out and recover. The December contract has an oversold recovery opportunity due to the Israel - Hamas conflict [8]. 3.2行业要闻 (Industry News) - Market Rebound: The China export container shipping market continued to rebound this week. The overall transport demand was stable, and the freight rates on ocean routes increased, driving up the comprehensive index. China's exports in September increased by 8.3% year - on - year, and the export growth rate to the EU reached 14.2% in September, a three - year high [9]. - Route - specific Situations: - European Routes: The transport demand was stable, and the spot market booking prices continued to rebound. The Shanghai - Europe basic port market freight rate on October 17 increased by 7.2% compared to the previous period [9]. - Mediterranean Routes: The market situation was similar to that of European routes, and the freight rates continued to rise. The Shanghai - Mediterranean basic port market freight rate on October 17 increased by 3.5% compared to the previous period [9]. - North American Routes: China's exports to the US decreased by 27% in September, with six consecutive months of negative growth since April. However, the transport demand was relatively stable this week, and the spot market booking prices rebounded from the low level. The Shanghai - US West and US East basic port market freight rates on October 17 increased by 31.9% and 16.4% respectively compared to the previous period [10]. - Israel - Hamas Conflict: There was a new conflict between Israel and Hamas. Israel is accelerating the resumption of full - scale military operations, and the Red Sea route is unlikely to resume navigation this year [10]. 3.3数据概览 (Data Overview) - Container Shipping Spot Prices: - The Shanghai Export Container Settlement Freight Index for European routes on October 20 was 1140.38, up 10.5% from October 13. - The index for US West routes on October 20 was 863.46, up 0.1% from October 13 [12]. - Container Shipping Index (European Routes) Futures Quotes: The trading data of EC2510, EC2512, EC2602, EC2604, EC2606, and EC2608 contracts on October 23, including opening price, closing price, settlement price, change, change rate, trading volume, open interest, and open interest change, are provided [6]. - Shipping - related Data Charts: Charts of Shanghai Export Container Settlement Freight Index, container shipping European route futures main and sub - main contracts, European container ship capacity, global container ship order backlog, Shanghai - European basic port freight rate, and Shanghai - Rotterdam spot freight rate are provided [13][16][17][21]