建信期货集运指数日报-20260226

Report Information - Report Title: Container Shipping Index Daily Report [1] - Date: February 26, 2026 [2] - Research Team: Macro Financial Team [4] - Researchers: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] Investment Rating - Not provided in the report Core View - Currently, sentiment is strong, the index is still at a low level, and European ports are congested. In the short term, it may continue to show a relatively strong performance. Wait for short - selling opportunities for the off - season contracts of 04 and 06 [7] Summary by Directory 1. Market Review and Operation Suggestions - From the supply - demand fundamentals, after the Spring Festival, it is still the transportation off - season. Trump announced a 10% tariff and a further increase to 15% under Trade Law 122, but China's tariffs may still decline. The demand for photovoltaic rush exports is limited, and the shipping capacity supply in March is at a historically high level. The resumption of navigation in the Red Sea will increase the supply pressure. Although some leading shipping companies announced a price increase in March, the current price in early March still mainly follows the end - February price. The current off - season price increase may be more for price stability and difficult to be implemented [7] 2. Industry News - The US Supreme Court ruled that the US government's tariffs under the IEEPA were illegal. The Chinese Ministry of Commerce is evaluating the impact and urges the US to cancel the tariffs. The US CBP will stop collecting IEEPA - based tariffs. The European Parliament postponed the vote on the EU - US trade agreement. Trump warned countries using the ruling to face higher tariffs. He also denied reports of a possible war with Iran. Israel's plan to strengthen control in the West Bank was condemned. The Gemini Alliance announced the resumption of the ME11/IMX route through the Red Sea - Suez Canal. Adverse weather has affected European ports and inland transportation [8][9] 3. Data Overview 3.1 Container Shipping Spot Prices - From February 16 to February 23, 2026, the SCFIS for the European route decreased from 1607.27 to 1573.51, a decrease of 2.1%; the SCFIS for the US West route decreased from 1131.74 to 1112.01, a decrease of 1.7% [11] 3.2 Container Shipping Index (European Line) Futures Market - Provided the trading data of EC2604, EC2605, etc. contracts on February 25, including opening price, closing price, settlement price, etc. [6] 3.3 Shipping - Related Data Charts - Included charts of European container ship capacity, global container ship orders, Shanghai - Europe basic port freight rates, etc. [16][18]