集运指数（欧线）：PA联盟超预期带动情绪好转

1. Report Industry Investment Rating - No information provided in the report. 2. Core Views of the Report - Yesterday, the Container Shipping Index (European Line) showed a strong performance. The main 2602 contract reached a high of 1,694.6 points during the session and finally closed at 1,665.2 points, a 3.41% increase. The second - main 2640 contract closed at 1,080.7 points, a 0.57% increase [10]. - In the medium - term, there is still a probability that shipping companies' price increases in January for the 2602 contract will be implemented. However, the overall capacity is not low in both late December and January, high prices are hard to sustain, and there is a drive to stock up at lower prices in late January. In the short - term, market sentiment is optimistic, while in the medium - term, it will be a volatile market. For the 2604 contract, short - selling on rallies has a relatively higher probability of success, and whether the bottom space can be opened depends more on shipping companies' resumption schedules [12]. - The trend strength of the Container Shipping Index (European Line) is 0, indicating a neutral outlook [13]. 3. Summary by Relevant Directory 3.1 Fundamentals Tracking - Futures Data: - EC2512 closed at 1,655.1, down 0.36% with a trading volume of 3,169 and an open interest change of - 114. The trading volume to open interest ratio was 0.10, compared to 0.14 the previous day [1]. - EC2602 closed at 1,665.2, up 3.41% with a trading volume of 35,894 and an open interest change of + 669. The trading volume to open interest ratio was 1.14, compared to 0.62 the previous day [1]. - EC2604 closed at 1,080.7, up 0.57% with a trading volume of 3,703 and an open interest change of - 159. The trading volume to open interest ratio was 0.19, compared to 0.14 the previous day [1]. - Freight Rate Index: - The SCFIS European route index was 1,509.10, up 1.7% week - on - week. The SCFIS US West route index was 960.51, up 1.2% week - on - week [1]. - The SCFI European route index was $1,400/TEU, down 0.3% bi - weekly. The SCFI US West route index was $1,550/FEU, down 5.0% bi - weekly [1]. - Spot Freight Rates: - Gemini Alliance's 52 - week FAK average was about $2,275/FEU. Maersk's Shanghai - Rotterdam opening price was lowered by $100 to $2,300/FEU, and the Hamburg port price remained at $2,300/FEU. HPLSPOT's late - December price was $2,200 - 2,300/FEU [11]. - OA Alliance's late - December quotes were between $2,500 - 2,620/FEU, with an average of about $2,530/FEU. Evergreen's late - December offline price was $2,550/FEU, and its slow - boat CES route price was $2,500/FEU. OOCL's online late - December quote was $2,500 - 2,600/FEU. COSCO's late - December price was around $2,500/FEU, up $200/FEU from the previous period. CMA's late - December price was $2,620/FEU, up $100/FEU from the previous period [11]. - MSC's late - December FAK was $2,640/FEU, up $200/FEU from the early - December [11]. - PA Alliance: Yang Ming quoted $2,800/FEU in week 51 and $2,600/FEU in week 52. It is expected that the PA freight rate center will have a slight decline on the basis of $2,600 - 2,800/FEU, but the late - December freight rate center will be higher than the early - December [11]. - Exchange Rates: The US dollar index was 99.24, and the US dollar against the offshore RMB was 7.06 [1]. 3.2 Macro News - On December 10, local time, Ukraine's State Security Service sank an oil tanker of Russia's "shadow fleet" in the Black Sea using naval drones. Russia has not responded yet [8]. - US President Trump said on December 11 that the announcement of the members of the "Gaza Peace Committee" will be made early next year, and many world leaders want to join [8].