建信期货集运指数日报-20251231

1. Report Information - Report Name: Container Shipping Index Daily Report [1] - Date: December 31, 2025 [2] - Researcher: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] 2. Core Viewpoints - The SCFIS index rebounded 9.7% to 1742.64 points this week. The price increase in mid - to late December was well - implemented, with full cabins in the second - last week of December and some voyages over - booked. The freight rate in early January is around 2880 dollars, with good cargo collection. There may be some upside potential for the February contract, but the expectation of Red Sea route resumption after the Spring Festival may rise, so pay attention to shorting opportunities for the April contract in the off - season and the positive spread trading opportunity between 02 - 04 contracts [8] 3. Market Review and Operation Suggestions - Spot Market: The SCFIS index rose 9.7% to 1742.64 points this week. The January freight rate is around 2880 dollars with good cargo collection. There is an expectation of price increase in late January, and the February contract may have upside potential. However, pay attention to the shorting opportunity of the April contract in the off - season and the positive spread trading opportunity between 02 - 04 contracts [8] 4. Industry News - From December 22 to 26, the China export container shipping market showed a positive trend, with the comprehensive index rising 6.7% to 1656.32 points on December 26. European routes: The European economy in 2025 was weak, with manufacturing PMI below the boom - bust line and slow - down in service industry growth. The geopolitical and energy security risks are high. The spot market booking price rose during the signing season, with the Shanghai - to - Europe freight rate up 10.2% to 1690 dollars/TEU on December 26. Mediterranean routes: The market moved in tandem with European routes, with the freight rate up 10.9% to 3143 dollars/TEU on December 26. North American routes: The US job market showed a slight recovery, and the freight demand was good, with the Shanghai - to - West Coast and East Coast US freight rates up 9.8% and 6.6% to 2188 dollars/FEU and 3033 dollars/FEU respectively on December 26 [9][10] - Many shipping companies announced price increases. MSC raised rates on multiple routes from December 15, with the increase larger than at the beginning of the month, valid until December 31. Maersk and Hapag - Lloyd announced PSS increases on multiple routes. CMA CGM will impose a PSS of 250 dollars per TEU on Asian - to - Nordic routes from December 29 and adjust FAK rates from January 1, 2026 [10] - Israeli forces killed several Hamas members in Rafah. The armed militants in Rafah tunnels are still in direct contact with Hamas military leadership. The Suez Canal Authority announced that Maersk would resume Red Sea - Suez Canal navigation from early December, but Maersk later denied it [10] 5. Data Overview 5.1 Container Shipping Spot Prices | Route | 2025/12/29 | 2025/12/22 | Change | YoY (%) | | --- | --- | --- | --- | --- | | SCFIS: European Routes (Basic Ports) | 1742.64 | 1589.2 | 153.44 | 9.7% | | SCFIS: US West Coast Routes (Basic Ports) | 1301.41 | 962.1 | 339.31 | 35.3% | [12] 5.2 Container Shipping Index (European Routes) Futures Market | Contract | Previous Settlement Price | Opening Price | Closing Price | Settlement Price | Change | Change Rate (%) | Trading Volume | Open Interest | Open Interest Change | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | EC2602 | 1833.3 | 1835.0 | 1795.1 | 1792.0 | - 38.2 | - 2.08 | 24777 | 27855 | - 2582 | | EC2604 | 1164.6 | 1171.0 | 1160.2 | 1165.3 | - 4.4 | - 0.38 | 7238 | 21241 | 44 | | EC2606 | 1350.2 | 1385.0 | 1370.0 | 1370.1 | 19.8 | 1.47 | 856 | 2230 | - 129 | | EC2608 | 1498.2 | 1506.0 | 1500.1 | 1499.3 | 1.9 | 0.13 | 86 | 1196 | - 10 | | EC2610 | 1052.9 | 1057.0 | 1056.0 | 1056.4 | 3.1 | 0.29 | 643 | 6084 | 72 | | EC2612 | 1052.9 | 1300.1 | 1308.0 | 1285.3 | 255.1 | 24.23 | 96 | 56 | 56 | [6] 5.3 Shipping - Related Data Charts - Figures include the trend of container shipping European routes futures main and secondary main contracts, European container ship capacity, global container ship order backlog, Shanghai - Europe basic port freight rate, and Shanghai - Rotterdam spot freight rate [18][19][21]