Renault to take full ownership of electric van joint venture Flexis February 23, 20267:25 AM UTCUpdated ago By Reuters A logo of Renault is seen outside a Renault car dealer in Arnhem, Netherlands February 18, 2025. REUTERS/Piroschka van de Wouw/File Photo Purchase Licensing Rights, opens new tab Feb 23 (Reuters) - Renault (RENA.PA), opens new tab will acquire truckmaker Volvo's (VOLVb.ST), opens new tab and shipping group CMA CGM's respective stakes in new generation electric vans joint venture Flexis, the ...

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - The spot freight rate is fluctuating. With the approaching of the Spring Festival and the uncertainty of the geopolitical situation, the market may fluctuate under the background of decreasing positions. Attention should be paid to the MSK online cabin opening and the actual loading situation of shipping companies during the holiday, as well as the resumption of navigation in the Suez Canal and the changes in the Middle East situation, and the support of the off - season rush shipment of products such as photovoltaics to the market. The market is expected to be volatile and the positions on the disk may continue to decrease [1][3] 3. Summary by Related Catalogs Spot Freight and Contract Volume - Price - **Futures Contract Data**: The EC2604 contract reached a maximum of 1260 points during the session, with a daily reduction of over 2000 lots, and closed at 1258.9 points, up 6.4%. The EC2606 contract closed at 1566.1 points, up 4.78%. Other contracts also rose. Specific data of each contract such as closing price, settlement price, increase or decrease, trading volume, and open interest are provided in the table [2][8] - **Spot Freight Data**: The comprehensive index of SCFI is 1266.6 points. The Nordic route of SCFIS is 1657.94 dollars/TEU (-7.5%), and the US - West route is 1155.66 dollars/FEU (+4.9%) [9] Spot Quotation - **European Line Spot Freight**: OOCL's March online freight rate reached 3130 dollars/FEU, and other shipping companies' rates remained generally unchanged. MSK's March online freight rate increased slightly. Different shipping companies' freight rates for different routes and time periods are provided, such as GEMINI, OCEAN, MSC&PA [2][3] European Line Spot Freight Seasonal Trend - Not provided in the given content

投资咨询业务资格：证监许可【2012】31号 航运衍生品数据日报 国贸期货研究院 能源化工研究中心 卢钉毅 数据来源：Clarksons、Wind 论 逻辑: 从现货运价端来看,马士基已发布 3 月第一周欧洲航线运价,报价维持 2000 美元，维持 2 月水平,船司此前 提出的 3 月涨价预期并未兑现。马士基延续稳健务实的定价策略,行业内其余船司及航运联盟大概率初期同步跟进 该定价水平;若春节后货量复苏力度偏弱,现货运价存在进一步下调可能,整体运行节奏或与 2025年同期相仿。 本周春节前最后一个交易周,新挂牌合约成交活跃度偏低。后续需重点关注其他船司 3 月运价的跟进情况、节后货 量修复进度,以及前期港口拥堵所引发的运力被动空班变动。短期盘面维持区间震荡格局。 投资咨询号: Z0021177 从业资格号: F03101843 2026/2/12 | | 运价指数 | 上海出口集装箱运价 | 中国出口集装箱运价 | SCFI-美西 | SCFIS-美西 | SCFI-美东 | SCFI-西北欧 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | ...

Renault plans to acquire the remaining stake in Flexis, ending the joint venture structure created in April 2024 with Volvo Group and CMA CGM. The French automaker and Volvo Group together hold a combined 90% stake in the commercial vehicle venture, with each owning 45%. French shipping and logistics group CMA CGM owns the rest. The commercial vehicle venture was set up to develop battery-electric vans using a centralised computing platform. French newspaper Le Monde reported that tensions emerged fol ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - The China - Southeast Asia shipping route is the world's largest trade corridor, showing resilience in trade tensions. The Southeast Asian container shipping market has strong growth momentum driven by economic growth and industrial transfer [8][33]. - In 2025, the North Asia - Southeast Asia route had the highest capacity share and the fastest growth rate among intra - Asia trades. However, future capacity growth may be constrained by the high average age and low orderbook of feeder vessels [26][34]. - Southeast Asian shipping routes generally have lower freight rate volatility than long - haul routes, with certain correlations to Northern Europe rates. New contracts listed by the Shanghai International Energy Exchange provide more options for hedging [2][35]. 3. Summary by Directory 3.1 Current Situation of the Southeast Asia Container Shipping Market - The China - Southeast Asia route is the world's largest trade corridor. In 2025, the trade value between China and ASEAN reached 1,055.87 billion USD, up 7.3% year - on - year. Asian intra - regional routes are the world's largest container shipping market. From January to October 2025, the cargo volume in this regional market reached 41.234 million TEUs, accounting for 25.9% of the global total, with a year - on - year growth rate of 5.1% [8]. - Due to short shipping distances, the China - Southeast Asia route is highly competitive, with carriers including global giants and regional specialists. Major routes include services from China to Singapore/Malaysia, Thailand/Vietnam, and Indonesia [11]. - Freight rates on Southeast Asian routes generally have lower volatility than long - haul routes, with seasonal patterns. Rates usually retreat from highs in January and February, rebound in early March, and are driven up in mid - April by the Songkran Festival. In 2025, due to tariff - driven front - running, rates surged prematurely between March and May, fell during the traditional peak period (June - August), hit a floor in the August - September off - season, and rebounded in October [12][13]. 3.2 Demand in Southeast Asian Shipping Market - The six major economies of ASEAN (Singapore, Indonesia, the Philippines, Malaysia, Thailand, and Vietnam) have shown economic resilience, with a three - year compound GDP growth rate of 3% in 2024, surpassing the overall GDP growth rate of Asia by 0.3 percentage points [16]. - The trade war between China and the United States has led to a global supply chain restructuring, and Southeast Asia has become an important destination for industrial transfer. From January to November 2025, China's exports to five ASEAN countries reached 492.33 billion US dollars, a year - on - year increase of 14.6%. By October 2025, the container cargo volume in the Asian market reached 41.234 million TEUs, a cumulative year - on - year increase of 5.3% [20]. - Among the commodities transported by general cargo containers, Vietnam accounts for the highest proportion (31.5%) of China's exports to the five ASEAN countries. In 2025, the total value of China's exports of 33 categories of commodities to the five ASEAN countries reached US$202.48 billion [24]. 3.3 Southeast Asian market capacity and competition landscape - In 2025, the North Asia - Southeast Asia route had the highest capacity share (56.1%) and the fastest growth rate (19.1% year - on - year) among all intra - Asia trades. By the end of 2025, the total capacity deployed by carriers within the intra - Asia market reached 3.415 million TEUs, a year - on - year increase of 11.7% [26]. - Regional carriers such as Wan Hai, SITC, and TS Lines maintain a strong presence in the intra - Asia market. They focus on strategic layouts within Southeast Asian feeder routes and offer differentiated services, serving as essential supplements to regional market coverage [30]. 3.4 Outlook - From a demand perspective, the Southeast Asian market shows diversified and high - growth characteristics in importing Chinese goods, driven by economic growth and industrial transfer dividends [33]. - Future capacity growth may be constrained by the high average age and low orderbook of feeder vessels. - Southeast Asian routes typically have lower freight rate volatility than long - haul routes, with a 75.8% correlation between rates from China to Singapore and Malaysia and Northern Europe rates, and a 51.7% correlation for Thailand, Vietnam, and the Philippines. New contracts EC2605, EC2607, and EC2609 listed on February 10th provide more options for hedging [35].

投资咨询业务资格：证监许可【2012】31号 航运衍生品数据日报 国贸期货研究院 能源化工研究中心 卢钉毅 数据来源：Clarksons、Wind 投资咨询号: Z0021177 从业资格号: F03101843 2026/2/10 | | 运价指数 | 上海出口集装箱运价 | 中国出口集装箱运价 | SCFI-美西 | SCFIS-美西 | SCFI-美东 | SCFI-西北欧 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 综合指数scFI | 指数CCFI | | | | | | 業 | 现值 | 1267 | 1122 | 1801 | 1155 | 2530 | 1403 | | | 前值 | 1317 | 1176 | 1867 | 1101 | 2605 | 1418 | | 运 | 涨跌幅 | -3.81% | -4.55% | -3.54% | 4.90% | -2.88% | -1.06% | | # | | SCFIS-西北欧 | SCFI-地中海 | | | | | | 数 | | | | | | | | | | 现值 ...

Renault plans to buy out stakes held by Volvo Group and shipping firm CMA CGM in their electric van joint venture Flexis, French newspaper Le Monde reported on Monday, following a review of the busine... ...

Group 1 - The "no-invoice tax exemption" policy has officially launched, allowing Shenzhen cross-border e-commerce companies to register for tax exemption through an online platform, emphasizing compliance and proper documentation [4] - The U.S. has reduced tariffs on Indian goods from 25% to 18% as part of a trade agreement, significantly lowering the tax burden on various export sectors, while India has agreed to halt Russian oil purchases [5] - The global air freight market is projected to grow steadily in 2025, with demand increasing by 3.4% and capacity by 3.7%, driven by e-commerce growth and shifting trade routes due to tariff uncertainties [6] Group 2 - The global container shipping market is facing downward pressure on freight rates due to geopolitical tensions in the Red Sea and seasonal demand declines, with the SCFI index dropping by 9.7% [7][9] - ONE has announced an upgrade to its FP2 shipping route, adding Haiphong, Vietnam, to enhance transport efficiency and strengthen its market position in Southeast Asia [8] - Recent operational changes at Guangzhou Port have led to strict booking policies, with freight forwarders halting new orders due to congestion and limited shipping windows ahead of the Lunar New Year [10]

Core Viewpoint - CMA CGM Group is acquiring 10 global ocean terminals through a joint venture with American private equity investor Stonepeak, marking a significant step in expanding its terminal operations in the U.S. and globally [1][2]. Group 1: Joint Venture Details - The joint venture, named United Ports LLC, involves a $2.4 billion investment from Stonepeak, which holds a 25% stake in the venture [1][5]. - CMA CGM will maintain a 75% stake in United Ports and will have full operational control over the terminals [5]. Group 2: Strategic Importance - The acquisition includes key terminals such as FMS in Los Angeles, Port Liberty in New York, Santos in Brazil, and Nhava Sheva in India, among others, enhancing CMA CGM's global terminal network [2][4]. - This partnership aims to leverage Stonepeak's infrastructure expertise to improve service quality and secure access to critical gateways [2][4]. Group 3: Industry Context - Container terminals are vital for global trade and are challenging to replicate, making this joint venture a unique investment opportunity in high-quality, strategically located assets [4]. - CMA CGM is the world's third-largest liner operator, with a fleet of 650 ships serving 420 ports, indicating its significant role in the shipping and logistics industry [2].

Exclusive: Investment firm Stonepeak has struck a deal with the French shipping company CMA CGM to create a U.S.-based port venture valued at around $10 billion https://t.co/iIwm1ED0Zx ...