航运衍生品数据日报-20260401

1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - The market sentiment premium rapidly increased due to the intensification of the Middle - East geopolitical conflict and news related to the Houthi armed forces, pushing up the market. However, this geopolitical event has no substantial impact on actual shipping routes. The market sentiment gradually cooled down and the gains were continuously reversed. Spot freight rates remained stable overall, with the latest quotes from major shipping companies showing differentiation and actual freight forwarding prices having significant discounts. The supply - demand structure has limited support for freight rates. Although the geopolitical conflict advanced the upward inflection point of spot freight rates, the terminal freight demand has not substantially recovered, and the upward space for freight rates is significantly limited [4] 3. Summary by Relevant Catalogs Shipping Derivatives Data - China Export Container Freight Rates: The present values and previous values of various freight rate indices are provided, along with their corresponding percentage changes. For example, the SCFI - US West index has a present value of 1139, a previous value of 1121, and a growth rate of 1.64%; the SCFI - US East index has a present value of 1263, a previous value of 1024, and a growth rate of 23.34% [1] Geopolitical News - Iran's President Pezeshkian had a call with the Prime Minister of Pakistan for over an hour, informing about contacts with the US and Middle - East countries and hoping to promote dialogue to ease the situation. Iran stopped supplying 10 million cubic meters of natural gas to southern Iraq since the evening of the 27th. The Houthi armed forces launched an attack on Israel for the first time in the current war. Iran's armed forces spokesman said they are formulating conditions for ending the war and warned the US and Israel. An Iranian senior security official warned that if the US launches a ground operation in the Middle - East, Iran will take counter - actions, and any military action by the "enemy" in the Strait of Hormuz may lead to its complete and unlimited closure. The US is preparing for a weeks - long ground operation in Iran, and thousands of US soldiers and marines have arrived in the Middle - East [2] Market Conditions - The market showed a weak and volatile trend [2] Logic - The market rise was driven by sentiment, and the actual shipping routes were not affected. The supply - demand structure has limited support for freight rates, and the terminal freight demand has not recovered, restricting the upward space of freight rates [4] Strategy - It is recommended to wait and see [5]