集运指数（欧线）：低位震荡

Report Summary 1. Report Industry Investment Rating - Not provided in the report 2. Core View of the Report - The container shipping index (European line) showed a weak oscillation yesterday. The main 2602 contract closed at 1387.7 points, down 0.69% with a reduction of 1089 lots; the 2512 contract closed at 1612.9 points, down 0.98%; the far - month contracts continued to trade on the resumption of navigation, with declines exceeding 2%. The short - term market is mainly trading on weak reality and will oscillate at a low level. The strategy is to wait and see for the 02 contract and hold short positions for the 04 contract [10][12] 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - Futures Data: EC2512 closed at 1779.7, up 0.69%; EC2602 closed at 1568.6, down 0.54%; EC2604 closed at 1142.1, down 0.45%. The spread between EC2512 and EC2604 is 637.6, and the spread between EC2602 and EC2604 is 426.5 [1] - Freight Index: The SCFIS European route was at 1639.37 points, up 20.7% week - on - week; the SCFIS US West route was at 1107.85 points, down 10.5% week - on - week. The SCFI European route was at $1367/TEU, down 3.5% bi - weekly; the SCFI US West route was at $1645/FEU, down 9.8% bi - weekly [1] - Spot Freight Rates: For the 50th week, the FAK average of the Gemini Alliance was about $2150/FEU; the OA Alliance was about $2350/FEU; the PA Alliance was about $2150/FEU. The expected market FAK average for the 50th week after adjustment is about $2220/FEU, roughly corresponding to 1570 - 1600 points [11] - Exchange Rates: The US dollar index was at 100.20, and the US dollar against the offshore RMB was at 7.11 [1] 3.2 Macro News - Trump and Saudi Crown Prince Mohammed bin Salman had a tense private conversation, with significant differences in their policies towards Israel [8] - Due to safety concerns, Maersk and Hapag - Lloyd have no specific schedule to change the "Gemini" east - west route to Red Sea navigation. They will closely monitor the situation in the region and resume the Suez Canal - based route network when safety conditions allow [9] 3.3 Market Analysis - In terms of fundamentals, the market did not reach the situation of "one cabin is hard to find" at the end of November and early December this year. In December, the first half - month had 2 cancelled sailings with an average weekly capacity of 32.4 million TEU/week; the second half - month had 2 cancelled sailings and one 13,000 - TEU additional ship from Maersk, with an average weekly capacity of 31.8 million TEU/week. The market is trading on the downward price drive from the second week of December to January. The short - term market is mainly trading on weak reality and will oscillate at a low level [12]