建信期货集运指数日报-20251127

Report Information - Report Title: Container Shipping Index Daily Report [1] - Date: November 27, 2025 [2] - Research Team: Macro Financial Team [4] - Researchers: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] 1. Report Industry Investment Rating - No relevant information provided 2. Report's Core View - The spot SCFIS index rose 20.7% week-on-week to 1639.37, better than expected, but shipping companies' December price hikes were less than expected. Maersk's quotes are aggressive, suppressing other airlines' price increase space, and there is a possibility of other airlines following Maersk to cut prices to attract cargo. Considering February is a traditional peak season, the market may conduct incentive games for the pre - Chinese New Year shipping rush, and short - selling has low cost - effectiveness. Attention should be paid to the possibility of the April contract being overvalued due to the influence, and the positive spread opportunity between the 02 and 04 contracts [8] 3. Summary by Relevant Catalogs 3.1行情回顾与操作建议 (Market Review and Operation Suggestions) - Spot market: This week, the SCFIS index rose 20.7% week - on - week to 1639.37, better than expected, but shipping companies' December price hikes were less than expected. Maersk's quotes are the most aggressive, suppressing other airlines' price increase space, and there is a possibility of other airlines following Maersk to cut prices to attract cargo. Consider the positive spread opportunity between the 02 and 04 contracts [8] 3.2行业要闻 (Industry News) - From November 17 to 21, the China Export Container Shipping Market was basically stable, with the comprehensive index of the long - haul route market declining. The Shanghai Export Containerized Freight Index on November 21 was 1393.56 points, down 4.0% from the previous period. European route: The eurozone's November consumer confidence index was - 14.2, lower than expected, and the spot market booking price declined. Mediterranean route: The supply - demand fundamentals were slightly better than the European route, and the market freight rate rose slightly. North American route: Due to the US government shutdown, the September non - farm report was postponed. Although the number of new jobs was better than expected, the unemployment rate rose to 4.4%, and the market freight rate continued to decline. There were also developments in the Israel - Hamas conflict and Iran's military actions [9][10] 3.3数据概览 (Data Overview) 3.3.1集运现货价格 (Container Shipping Spot Prices) - SCFIS for European routes (basic ports) on November 24 was 1639.37, up 20.7% from November 17; SCFIS for US West routes (basic ports) was 1107.85, down 10.5% from November 17 [12] 3.3.2集运指数（欧线）期货行情 (Container Shipping Index (European Line) Futures Quotes) - Provided trading data for multiple contracts of container shipping European line futures on November 26, including opening price, closing price, settlement price, price change, price change rate, trading volume, open interest, and open interest change [6] 3.3.3航运相关数据走势图 (Shipping - Related Data Charts) - Included charts of European container ship capacity, global container ship orders, Shanghai - European basic port freight rates, and Shanghai - Rotterdam spot freight rates [17][21]