欧线航数脉搏2026W11

Group 1: Report Information - Report Title: "European Line Shipping Pulse 2026W11" [3] - Research Department: Black and Shipping Department of Orient Securities Derivatives Research Institute [3] - Analyst: Lan Xi [3] - Qualification Numbers: F03086543 (从业资格号), Z0016590 (投资咨询号) [3] Group 2: Loading Rate - W10 European line fleet's average loading rate from Chinese ports was 87.5%, a 4.5% decrease from the previous period (92.0%) [10] - W9 European line fleet's loading rate from Asian ports was 99.2%, unchanged from the previous period (99.1%) [10] - The loading rate difference between Asian and Chinese ports was 6.9% [10] - OA's loading rate from Chinese ports was 90.5%, a 2.6% decrease from the previous period [10] - PA and MSC's loading rate from Chinese ports was 85.7%, a 6.0% decrease, and their W9 loading rate from Asian ports was 100.8% [10] - Gemini's loading rate from Chinese ports was 85.4%, a 5.1% decrease, and its W9 loading rate from Asian ports was 98.8% [10] Group 3: Shipping Capacity - In the second half of March (W12 - W13), the weekly average shipping capacity was 312,000 TEU, higher than the 261,000 TEU average in the first half [14] - The monthly average weekly shipping capacity in April was 314,000 TEU, with 3 TBN, higher than the 307,000 TEU average of the same period last year [14] - At the beginning of April, the supply pressure was relatively moderate. W14's shipping capacity was 272,000 TEU. From W15 - W16 in the middle of the month, the supply pressure was significant, with a weekly average of 341,000 TEU. In the late April (W17 - W18), the supply pressure was relatively moderate, with a weekly average of 265,000 TEU, but there were concentrated pending voyages in the second half [14] Group 4: Shipping Schedule Delays and Index Trends - In W10, 2 voyages were delayed to W11, including 0 from Gemini, 1 from OA, and 1 from MSC and PA [20] - In Shanghai Port in W10, 2 voyages were delayed [20] - The SCFIS (European Line) index closed at 1545.46 points, a 5.6% increase from the previous period [21] - In W10, the actual departing shipping capacity from Shanghai Port on the European line was 151,200 TEU, with 0% being previously delayed voyages. By alliance, the independent weights of Gemini, OA, PA + MSC, and MSC were 12%, 54%, 23%, respectively [21] Group 5: Port Congestion - In China, the average turnaround time at Yangshan Port was about 1.5 days, at Ningbo Port about 1.2 days, and at Yantian Port about 1.1 days. The operating conditions of Chinese ports have significantly improved due to the weakening market demand [25] - In Southeast Asia, the pressure on ports has significantly eased compared to the previous period. The average time ships spent in Singapore Port was 1.5 days, and in Port Klang was 1.4 days [25] - In Europe, the pressure on ports has continued to improve compared to the previous period. The average time ships spent in Antwerp Port was about 1.9 days, in Rotterdam 2.2 days, in Hamburg Port 2.8 days, and in Bremen Port 1.3 days [25] Group 6: Futures and Spot - The report presents data on SCFIS (European Line) seasonality, EC historical contract delivery settlement prices and current contract settlement prices, EC forward curves, and SCFI (European Line) seasonal coefficients [27] - It also shows the price differences between different contract months, such as 4 - 6, 4 - 8, 6 - 8, and 8 - 10 [27]