集运欧线数据日报-20260127

Report Summary 1. Industry Investment Rating - No industry investment rating is provided in the report. 2. Core View - The SCFIS European line index decreased by 4.9% to 1859.31 points, which is the first - phase delivery settlement price of the EC2602 contract. As the Spring Festival approaches, shipping companies face increasing cargo - booking pressure, and pre - holiday freight rates enter the traditional off - season decline channel under Maersk's lead in price cuts. However, the market's focus is on the potential freight rate increase after the Spring Festival due to the rush of photovoltaic product exports. The 04 contract is currently at a discount of about 300 points to the spot, and the low valuation supports the market. Considering the price increase announcements by shipping companies in March and April 2025 and the expected rush of photovoltaic exports this year, the market is not pessimistic about post - holiday freight rates. Before seeing shipping companies' price - increase plans or a substantial increase in cargo volume from the export rush, the 04 contract is expected to fluctuate, and attention should be paid to Maersk's new cabin openings [1]. 3. Summary by Relevant Catalogs EC Contract Volume and Price - EC2602: The latest成交价 is 1726.7 points, with a latest涨跌幅 of 0.76%. The成交量 is 565 (a 33 - unit increase), and the持仓量单边 is 4225 (a 176 - unit decrease). The net long position of the top 20 members is - 77 [2]. - EC2604: The latest成交价 is 1200.2 points, with a latest涨跌幅 of 5.46%. The成交量 is 43172 (a 12391 - unit increase), and the持仓量单边 is 41690 (a 541 - unit increase). The net long position of the top 20 members is - 2007 [2]. - EC2606: The latest成交价 is 1447.6 points, with a latest涨跌幅 of 3.47%. The成交量 is 4483 (a 7 - unit increase), and the持仓量单边 is 7324 (a 1533 - unit increase). The net long position of the top 20 members is 0 [2]. - EC2608: The latest成交价 is 1524 points, with a latest涨跌幅 of 1.61%. The成交量 is 614 (a 396 - unit increase), and the持仓量单边 is 1515 (a 172 - unit increase) [2]. - EC2610: The latest成交价 is 1114.2 points, with a latest涨跌幅 of 2.34%. The成交量 is 2148 (a 620 - unit increase), and the持仓量单边 is 8565 (a 195 - unit increase) [2]. - EC2612: The latest成交价 is 1373.5 points, with a latest涨跌幅 of 0.91%. The成交量 is 38 (a 15 - unit decrease), and the持仓量单边 is 124 (a 3 - unit increase) [2]. - Total: The total成交量 is 51020, and the total持仓量 is 63443. The net long position of the top 20 members is - 2084 [2]. Latest Spot Freight Rates - European Routes - Weekly Spot Index: The SCFIS index is 1859.31 points, down 4.9% from the previous period; the SCFI is $1595/TEU, down 2.5% from the previous period [4]. - Daily Spot Freight Rates: The TCI (20GP) is $1682/TEU, with no change; the TCI (40GP) is $2826/FEU, with no change [4]. Basis Spread - The previous trading - day basis was - 61.9 points, and the basis two trading days ago was 753.99 points, showing a change of - 815.89 points [6].