航运日报：关注马士基11月下半月报价情况-20251104

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - Attention should be paid to Maersk's quotes in the second half of November [1] - The 12 - month contract is expected to be volatile and on the stronger side, and the 2026 February contract may have a large expectation gap but is currently suppressed by the resumption of flights [4][5] - The reduction of the fentanyl tariff by 10% is conducive to promoting the recovery of Sino - US trade, driving the recovery of demand on the US route, and providing some support for European route prices [3] 3. Summary According to the Directory I. Futures Prices - As of November 3, 2025, the total open interest of all contracts of the container shipping index European line futures was 66,706.00 lots, with a single - day trading volume of 26,649.00 lots. The closing prices of EC2602, EC2604, EC2606, EC2608, EC2610, and EC2512 contracts were 1592.20, 1184.40, 1400.80, 1483.50, 1139.30, and 1851.70 respectively [5] II. Spot Prices - On October 31, 2025, the SCFI (Shanghai - Europe route) price was 1344 dollars/TEU, the SCFI (Shanghai - US West route) price was 2647 dollars/FEU, and the SCFI (Shanghai - US East) price was 3438 dollars/FEU. On November 3, the SCFIS (Shanghai - Europe) was 1208.71 points, and the SCFIS (Shanghai - US West) was 1267.15 points [5] III. Container Ship Capacity Supply - In November, the average weekly capacity from China to European base ports was 286,000 TEU, and the capacities in weeks 45, 46, 47, 48, and 49 were 310,700, 273,000, 296,500, 270,000, and 299,900 TEU respectively. In December, the average weekly capacity was 322,900 TEU, and the capacities in weeks 50, 51, 52, and 53 were 336,400, 299,400, 335,600, and 320,400 TEU respectively. There were 10 blank sailings and 1 TBN in November and 6 TBNs in December [3] - As of October 31, 2025, 218 container ships with a total capacity of 1.784 million TEU had been delivered in 2025. Among them, 67 ships with a capacity of 12,000 - 16,999 TEU and a total capacity of 1.008 million TEU were delivered, and 11 ships with a capacity of over 17,000 TEU and a total capacity of 236,320 TEU were delivered [6] IV. Supply Chain - Not provided in the given content V. Demand and European Economy - Not provided in the given content