建信期货集运指数日报-20251105

Report Information - Report Type: Container Shipping Index Daily Report [1] - Date: November 5, 2025 [2] - Research Team: Macro Financial Team [4] - Researchers: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] Investment Rating - No investment rating is provided in the report. Core View - Although the actual demand may not support a large price increase, the shipping rates are likely to have bottomed out and are expected to recover. It is recommended to maintain a bullish position on the December contract [8]. Summary by Section 1. Market Review and Operation Suggestions - Market Expectations: With the arrival of the year - end peak season, market expectations have improved, and shipping companies have continued to raise their quotes for November and December. However, considering the current average demand and the decline of the SCFIS index, the price increase may not fully materialize [8]. - Regional Situation: The conflict in the Middle East remains unresolved, and the Red Sea is unlikely to resume normal shipping in the short term [8]. - Operation Suggestion: Continue to maintain a bullish position on the December contract and buy on dips [8]. 2. Industry News - Market Conditions: From October 27 to 31, the China Export Container Shipping Market showed positive trends. The overall transportation demand was stable, and the freight rates of most routes continued to rise, driving up the comprehensive index [9]. - European Route: In October, the euro - zone's composite PMI rose to 52.2, and the freight rates in the European route continued to increase. On October 31, the freight rate from Shanghai Port to European basic ports was $1344/TEU, up 7.9% from the previous period [9]. - Mediterranean Route: The market conditions were similar to those of the European route. The supply - demand fundamentals were stable, and the spot booking prices continued to rise. On October 31, the freight rate from Shanghai Port to Mediterranean basic ports was $1983/TEU, up 12.4% from the previous period [9]. 3. Data Overview 3.1 Container Shipping Spot Prices - SCFIS Index: On November 3, 2025, the SCFIS for the European route (basic ports) was 1208.71, down 7.9% from October 27; the SCFIS for the US West route (basic ports) was 1267.15, up 14.4% from October 27 [12]. 3.2 Container Shipping Index (European Route) Futures Market - Futures Data: The report provides trading data for various contracts on November 4, including EC2512, EC2602, etc., such as opening price, closing price, settlement price, and trading volume [6]. 3.3 Shipping - Related Data Charts - The report includes multiple charts showing data such as European container ship capacity, global container ship orders, Shanghai - Europe basic port freight rates, etc. [17][18][20]