建信期货集运指数日报-20251226

Report Information - Report Title: Container Shipping Index Daily Report [1] - Date: December 26, 2025 [2] - Researchers: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] Report Summary 1. Investment Rating - No investment rating is provided in the report. 2. Core View - The spot SCFIS index rebounded slightly by 5.2% to 1,589.2 points this week. The price increase in mid - and late December was well - implemented, with full cabins and some voyages over - booked in the second - last week of December. CMA CGM announced a price increase for the Asia - Europe route in January, but the actual price implementation of some shipping companies was lower than the announced increase. The market may have an incentive game for the pre - Spring Festival shipping rush, with potential upside for the February contract and opportunities for shorting the April contract in the off - season and a positive spread between the 02 and 04 contracts [8]. 3. Section Summaries 3.1 Market Review and Operation Suggestions - Spot Market: The SCFIS index rose 5.2% to 1,589.2 points this week. The price increase in December was well - implemented, but the actual price of some shipping companies in January was lower than the announced increase. There may be an upside for the February contract, and attention should be paid to shorting opportunities for the April contract and the 02 - 04 positive spread [8]. 3.2 Industry News - Market Conditions: From December 15th to 19th, the China export container shipping market was generally stable, with some long - haul routes seeing rising freight rates. China's November exports in US dollars increased by 5.9% year - on - year, and the trade surplus exceeded 1 trillion US dollars in the first 11 months. The Shanghai Export Containerized Freight Index rose 3.1% on December 19th. The eurozone's December business activity growth slowed, and the European route's freight rate declined slightly. The Mediterranean route's freight rate increased, and the North American route's freight rate also rose [9][10]. - Shipping Company Policies: Multiple shipping companies, including MSC, CMA CGM, Maersk, and Hapag - Lloyd, announced price increases and additional fees for various routes [10]. - Geopolitical News: The Israeli military killed several Hamas members in Rafah, and there were reports about the connection between armed militants in Rafah tunnels and Hamas. The Suez Canal Authority announced that Maersk would resume Red Sea - Suez Canal navigation, but Maersk later denied it [10]. 3.3 Data Overview - Container Shipping Spot Prices: The SCFIS for the European route increased from 1,510.56 on December 15th to 1,589.2 on December 22nd, a rise of 5.2%. The SCFIS for the US West route increased from 924.36 to 962.1, a rise of 4.1% [12]. - Container Shipping Index (European Line) Futures Quotes: The trading data of various EC contracts on December 25th, including opening price, closing price, settlement price, price change, and trading volume, are presented in Table 1 [6].