集运早报-20251027

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - Recently, the futures market has been strong due to shipping companies adding sailings and good cargo receipts on multiple routes at the end of October. The valuation of the December contract is currently high, but considering the upcoming price - increase announcements and the upward drive during the long - term contract signing season, the logic of going long on dips for the December contract remains unchanged. There may be short - term downward fluctuations, and attention should be paid to possible price cuts by shipping companies in early November. - Against the backdrop of geopolitical uncertainties, the February contract may have more upside potential with the arrival of the peak season, but geopolitical fluctuations also exist. - The April contract maintains a short - selling view, but it may fluctuate strongly following the near - term contracts during the peak season from November to January, and positions can be gradually established [2]. 3. Summary by Relevant Content EC Futures Contracts | Contract | Yesterday's Price | Change (%) | Volume | Open Interest | Open Interest Change | | ---- | ---- | ---- | ---- | ---- | ---- | | EC2510 | 1137.8 | 0.15 | 817 | 4292 | - 526 | | EC2512 | 1831.0 | 2.11 | 35117 | 30249 | 1335 | | EC2602 | 1601.0 | 1.20 | 3971 | 11509 | 971 | | EC2604 | 1179.6 | 0.67 | 1726 | 14224 | 170 | | EC2606 | 1397.9 | 1.68 | 285 | 1377 | - 25 | [2] Month - to - Month Spreads | Spread | Previous Day | Two Days Ago | Three Days Ago | Daily Report | Friday | | ---- | ---- | ---- | ---- | ---- | ---- | | EC2510 - 2512 | - 693.2 | - 657.0 | - 651.7 | - 36.2 | - 111.3 | | EC2512 - 2602 | 230.0 | 211.1 | 205.4 | 18.9 | 70.0 | [2] Spot Freight Indexes | Index | Update Frequency | Announcement Date | Unit | Current Period | Previous Period | Two Periods Ago | Current Change | | ---- | ---- | ---- | ---- | ---- | ---- | ---- | ---- | | SCFI (Euro - line) | Weekly | 2025/10/20
2025/10/24 | USD/TEU | 1140.38
1246 | 1031.80
1145 | 1046.50
1068 | 10.52%
8.82% | | CCFI | Weekly | 2025/10/24 | - | 1293.12 | 1267.91 | 1287.15 | 1.99% | | NCFI | - | 2025/10/24 | - | 822.3 | 803.21 | 698.67 | 2.38% | [2] Recent Euro - line Quotations - Currently, downstream customers are booking space for the end of October and early November (Week 44 - 45). In Week 44, offline quotes are PA $1400, GEMINI $1600, and OA $1800. - Shipping companies plan to raise prices in November, with most announcements in the range of $2500 - $2700, and the average converted to the futures price is about 1800 points. On Tuesday, MSK opened at $2350, in line with expectations [3]. Related News - On October 27, US Treasury Secretary Yellen stated that after two - day talks in Kuala Lumpur, the US and China reached a "very substantial framework agreement," and the US "will no longer consider" imposing a 100% tariff on China. - On October 27, the Israeli government spokesman said that Israel will maintain full security control over the Gaza Strip [4].