航运衍生品数据日报-20251031

Group 1: Shipping Derivatives Data Shipping Freight Index - The current values of SCFI - West US, SCFI - East US, SCFIS - West US, SCFI - Northwest Europe, Index CCFI, and Comprehensive Index SCFI are 1107, 1246, 1403, 2153, 3032, and 862 respectively, with daily increases of 2.02%, 6.27%, 7.11%, 11.21%, 8.82%, and 28.42% [3]. - The current values of SCFI - Mediterranean and SCFIS - Northwest Europe are 1312 and 1746 respectively, with daily increases of 15.09% and 8.25% [3]. Shipping Futures Contracts - For contracts EC2506, EC5602, EC2608, EC2610, EC2512, and EC2604, the current values are 1403.3, 1132.5, 1175.9, 1487.5, 1583.0, and 1843.8 respectively, with daily changes of -1.38%, -2.22%, -0.63%, -1.45%, -1.43%, and -1.55% [3][4]. - The current positions of EC2606, EC2608, EC2610, EC2512, EC2602, and EC2604 are 1411, 1324, 1062, 30114, 16233, and 14460 respectively, with increases of 1, 24, 150, -1792, 348, and 66 respectively [4]. - The current month - spreads of 12 - 02, 12 - 04, and 02 - 04 are 260.8, 667.9, and 407.1 respectively, with decreases of 4.2, 8.7, and 4.5 respectively [4]. Group 2: Market News and Analysis Trade Agreements and Policies - US Treasury Secretary Scott Bessent reached a "very substantial framework agreement" with Chinese Vice - Premier He Lifeng, which will avoid 100% US tariffs on Chinese products and extend China's rare - earth export controls [5]. - US President Donald Trump is confident of reaching an agreement with Chinese leaders after the preliminary consensus reached in the Sino - US high - level economic talks [5]. - The US and Vietnam have agreed to establish a "reciprocal, fair, and balanced trade framework agreement" to strengthen bilateral economic relations [5]. Shipping Company Operations - CMA CGM, Maersk, and MSC have started to re - flag some ships to the Indian flag [5]. Canal Revenue Forecast - The Suez Canal Authority expects its revenue in 2026 to reach about $8 billion, compared to the current level of about $4 billion [5]. Group 3: EC Market Analysis Market Trend - The EC market showed a weak oscillation. It oscillated on Monday and Tuesday due to some airlines lowering their quotes for early November and the mskwk46 quote dropping by 150 to 2200, and rebounded on Wednesday due to the resurgence of geopolitical conflicts [5]. Spot Prices - In late October, Maersk's quote was 1800 - 1900, HPL's was 1900, OCCL's was 2600, CM's was 2100, EMC's was 2050, NSC's was 2050, YML's was 1350, and ONE's was 1450. In early November, NSK's quote was 2400, HPL's was 2500, CMA's was 2700, OCCL's dropped to 2300, EMC's was 2700, MSC's dropped to 2250, YML's was 2250, ONE's was 2550, and HMM's was 1900 [5]. Market Logic - The European route is in the regular year - end price - holding stage. The first attempt to hold prices in late October to stop the decline was initially effective, and it has now entered the second round in early November. There will be multiple rounds of year - end price - holding in the next two months, so the seasonal expectations are leading. Future attention should be paid to changes in Sino - US relations, end - of - month loading conditions, and empty - flight situations in November [5]. Investment Strategy - The recommended strategy is to wait and see [5].