集运欧线数据日报-20260126

Report Summary 1. Report Industry Investment Rating - Not provided in the report. 2. Core View - Last Friday, EC dropped by 0.1%. The SCFI European line price announced after the market was $1,595/TEU, a decrease of $81/TEU from the previous period, indicating a continued reduction in shipping rates by carriers at the end of January. As the Spring Festival approaches, the pressure to secure cargo will increase, and carriers need to build rolling space for the holiday. Thus, pre - holiday shipping rates are entering a downward channel in the off - season. However, due to the adjustment of export tax - rebate policies for products like photovoltaics, there may be a rush to export related products before April 1st, bringing relative resilience to off - season cargo volume. Considering that carriers announced price hikes in March and April 2025, the market is not overly pessimistic about April shipping rates. Given the hedging effect of the export rush in August and September last year, the possible lag in large - scale concentrated shipments, and the relatively abundant capacity from the end of January to the pre - holiday period, the market may be weak before the holiday. Attention should be paid to the subsequent export rush and Maersk's new space openings [1]. 3. Summary by Relevant Catalogs EC Contract Volume and Price | Contract | Latest Transaction Price (Points) | Latest Change Rate (%) | Trading Volume (Change) | Open Interest (Change) | Long Positions (Top 20 Members) | Short Positions (Top 20 Members) | Net Long Positions (Top 20 Members) | | --- | --- | --- | --- | --- | --- | --- | --- | | EC2602 | 1717.7 | 0.61 | 532 (-216) | 4401 (-280) | 3122 | 3273 | -151 | | EC2604 | 1138.3 | -0.10 | 30781 (11304) | 41149 (379) | 22932 | 25495 | -2563 | | EC2606 | 1412.9 | 1.40 | 4476 (1249) | 5791 (908) | 0 | 0 | 0 | | EC2608 | 1495.5 | -0.62 | 218 (90) | 1343 (-10) | | | | | EC2610 | 1093 | 1.28 | 1528 (491) | 8370 (52) | | | | | EC2612 | 1338.5 | -0.28 | 53 (20) | 121 (-7) | | | | | Total | - | - | 37588 | 61175 | 26054 | 28768 | -2714 | [2] Latest Spot Shipping Rates - European Routes | Spot Index | Indicator | Latest Period | Change Rate from Previous Period | Previous Period | Change Rate from Previous Period | Two Periods Ago | Change Rate from Previous Period | | --- | --- | --- | --- | --- | --- | --- | --- | | (Weekly) | SCFIS - Points | 1954.19 | -0.1% | 1956.39 | 8.9% | 1795.83 | 3.1% | | | SCFI - $/TEU | 1595 | -2.5% | 1676 | 1.7% | 1719 | 0.0% | | Spot Shipping Rates | TCI(20GP) $/TEU | 1749 | 0.0% | 1749 | 0.0% | 1749 | 0.0% | | (Daily) | TCI(40GP) $/FEU | 2943 | 0.0% | 2943 | 0.0% | 2943 | 0.0% | [4] Basis Spread (Points) - The basis spread on the previous trading day was 815.89 points, and on the day before the previous trading day was 816.49 points, with a change of - 0.6 points [6].