期货热点追踪 多家航司宣涨运价，今日集运欧线期货大涨，机构称航运市场迎来关键转折点，海运集装箱运价已经触 顶，未来几周内运价预计将...... 相关链接 ...

《中美日内瓦经贸会谈联合声明》发布后，外贸一线情况如何？记者采访了浙江部分外贸企业、货代平 台及港口。 5月16日一早，浙江宁波慈溪市，韩电电器全自动冰箱生产车间马力全开，经由切边、弯折、冲孔等多 道工序后，多款型号的冰箱快速下线、装车出发。 "声明发布当天，美国客户立马联系我们，希望排产、发货。最近几天，产线全部满负荷生产。"公司外 贸负责人王建明说。 此前，受美滥施关税影响，韩电对美业务摁下"暂停键"。目前，公司对美业务重启，前两天客户还追加 了一笔补单，货值200多万美元。 百公里外，湖州市杨明斯金属制品有限公司车间生产繁忙。这家主营车载工具箱的外贸企业，对美出口 占比近八成，过去半个月生产受到不小影响。公司总经理张佳瑜说，"之前退货的美国客户，已计划再 次下单，正在洽谈关税分担比例。" 订单回暖，也为航运市场添了把火。大洋彼岸"补货"潮涌，美线海运出现"爆单"。 宁波港东南物流集团的智慧物流大屏上，订舱量、海运价、拖车安排等指标正实时跳动。 作为一家出口拼箱海关监管仓库，公司发往美国的货物占业务量近一半。"美国客户普遍'囤单'，外贸 企业纷纷'抢单'，预计在后续3个月内，发往美国的货物出口量将在原有基 ...

投资咨询业务资格：证监许可【2012】31号 II GERIK 航运衍生品数据日报 | | | | 国贸期货研究院 能源化工研究中心 | | | 投资咨询号: Z0021177 | 2025/5/16 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 卢钊毅 | | 从业资格号:F03101843 | | | | | | | 数据来源：Clarksons、Wind | | | | | | | 运价指数 | 上海出口集装箱运价 综合指数SCFI | 中国出口集装箱运价 指数CCFI | SCFI-美西 | SCFIS-美西 | SCFI-美东 | SCFI-西北欧 | | | 现值 | 1345 | 1106 | 2347 | 1455 | 3335 | 1161 | | til Alle | | | | | | | | | | 前值 | 1341 | 1121 | 2272 | 1321 | 3283 | 1200 | | 运 | 涨跌幅 | 0.32% | -1.31% | 3.30% | 10.19% | 1.58% | -3.25% ...

Group 1 - The A-share market opened lower on May 15, with the Shanghai Composite Index down 0.42% to 3389.75 points, the Shenzhen Component Index down 1.12% to 10238.63 points, and the ChiNext Index down 1.35% to 2055.06 points [1] - The shipping and logistics sectors continued to rise, with notable performances from companies like Lianyungang, Nanjing Port, Ningbo Maritime, and Ningbo Ocean, achieving three consecutive days of gains [1] - The consumer sector showed strong performance, particularly in the beauty and personal care segment, which rose by 4.49%, while the food and beverage sector followed closely [1] Group 2 - The shipping market is experiencing a surge due to improved export demand expectations and adjustments in U.S.-China tariff policies, leading to a rush in shipping activities as the traditional transportation peak season approaches [2] - Some leading shipping companies have indicated price increases for June, creating a forward price anchoring effect, while the overall market sentiment has shifted positively due to the easing of trade tensions [2] - The futures market has seen significant increases, with the European shipping contract rising over 40% in four trading days, reflecting the bullish sentiment in the shipping sector [2] Group 3 - Future sustainability of the shipping market recovery depends on three key variables: the strength of inventory replenishment in Europe and the U.S., shipping companies' capacity control measures, and geopolitical risk premiums [3] - If the PMI new orders index remains above 55 in May, the peak season could extend until August, while significant capacity management by major shipping lines could push freight rates up by 15% to 20% [3] - Long-term supply pressure remains, with a 10% year-on-year expansion in the global container fleet, which may challenge the recovery cycle by the end of Q3 [3]

"货代告诉我们，这两天公司美线货运量有明显提升，货运价格也有一定幅度提升。"广州某外贸企业负责人在接受《证券 日报》记者采访时表示。 本报记者 张文湘 贺王娟 航运行业迎来火爆行情。东方财富数据显示，截至5月14日收盘，航运港口板块大涨4.58%，5月13日和5月14日两个交易日 的累计涨幅达8.44%。 消息面上，近期中美贸易摩擦缓和，美线航运出现"抢运潮""抢舱热"。有业内人士认为，当前情况下，前期积压的货物将 加紧出运，运线涨价或持续到下半年。 美线货运量明显提升 今年5月份之前，国内集装箱等航运价格面临持续下行压力。上海航运交易所发布的数据显示，今年2月份到4月份，中国 出口集装箱运价综合指数分别环比下跌13.0%、13.2%、4.5%，其中，美西航线运价指数分别环比下跌6.7%、18.4%、8.9%，美 东航线运价指数则分别环比下跌5.8%、16.9%、8.5%。 5月12日之后，航运价格走势出现明显变化。一方面，美线航运出现"抢运潮"，另一方面，欧线航运价格也出现上涨。东 方财富数据显示，5月12日至5月14日，欧线集运2506累计涨幅达38.10%。 业内人士认为，近日航运价格走势的变化，一方面 ...

5月13日，A股航运概念股集体冲高。截至发稿前，宁波海运（600798.SH）录得涨停板；宁波远洋 （601022.SH）涨3.23%，中远海控（601919.SH）、中国外运（601598.SH）均涨超2%。 反观港股航运股表现分化。德翔海运（02510.HK）、东方海外国际（00316.HK）、中国外运 （00598.HK）延续涨势，涨幅依次为5.08%、2.66%、1.69%；中远海能（01138.HK）下跌2.56%，天津 港发展、辽港股份等概念股均录得下跌。 关于A股市场与港股市场中航运板块的股价波动，其表现存在差异，这主要与中美两国经贸谈判联合声 明的发布时间以及港A两市的收盘时间点的不同有关。 5月12日A股盘后，中美双方发布《中美日内瓦经贸会谈联合声明》，大幅降低双边关税水平。 受此积极信号影响，处于交易时段的港股，应声大涨。其中，5月12日航运股尾盘大幅拉升，中远海控 （01919.HK）收涨8.52%，中远海发（02866.HK）涨5.43%，东方海外国际（00316.HK）、中远海能 （01138.HK）依次上涨4.78%、4.34%。 据媒体报道，在中美关税好消息传出后，许多美企正争分 ...

投资咨询业务资格：证监许可【2012】31号 部】【6】中国转向欧洲零售促销咨询公司ShiftX合伙人Toni Rigalos表示，中国对美出口放缓后，部分中国制造商开始 向欧洲进口商提供促销优惠或更灵活的运价选项。ShiftX为欧洲货主提供承运商采购服务。然而,Toni Rigalos在 网络研讨会上透露,欧洲市场对此类折扣方案兴趣寥寥:"我们接触的多家欧洲大型零售商并未积极参与制造商的 促销活动。欧洲需求疲软,企业行动趋于保守。" 航运衍生品数据日报 | | | | 国贸期货研究院 能源化工研究中心 卢钊毅 | | 投资咨询号: Z0021177 | | 2025/5/7 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 数据来源：Clarksons、Wind | | 从业资格号:F03101843 | | | | | 运价指数 | 上海出口集装箱运价 综合指数SCFI | 中国出口集装箱运价 指数CCFI | SCFI-美西 | SCFIS-美西 | SCFI-美东 | SCFI-西北欧 | | | 现值 | 1341 | 0 | 2 ...

Investment Rating - The investment rating for the company is "Accumulate" [7]. Core Views - The report highlights that the shipping rates are expected to return to normal levels in 2025, with a healthy supply-demand relationship supporting medium to long-term freight rates [4][5]. - The company disposed of four old MR vessels in 2024, generating asset disposal income of 267 million yuan, and currently has ten vessels on order [3][5]. - The management is exploring ways to use capital reserves to cover undistributed profits, aiming to create conditions for future dividends, which could enhance investor return expectations [5]. Financial Summary - The company achieved a total revenue of 64.75 billion yuan in 2024, representing a year-on-year increase of 4.5%, with a net profit attributable to shareholders of 1.921 billion yuan, up 23.4% [10]. - Forecasted net profits for 2025, 2026, and 2027 are 1.404 billion yuan, 1.562 billion yuan, and 1.732 billion yuan, respectively, indicating a decline in 2025 followed by growth in subsequent years [6][5]. - The earnings per share (EPS) for 2025 is projected to be 0.29 yuan, with a price-to-earnings (P/E) ratio of 9.44 [6].

Core Viewpoint - The company, 乐舱物流, has demonstrated significant growth in its financial performance for 2024, leading the shipping and port sector in the Hong Kong stock market, with a revenue increase of 57.2% and a net profit surge of 232.9% compared to the previous year [1][6]. Financial Performance - The company reported a revenue of 1.946 billion RMB for 2024, marking a year-on-year growth of 57.2% [1]. - The net profit attributable to shareholders reached 396 million RMB, a substantial increase of 232.9%, achieving a historical high [1]. - The container transportation volume for cross-border logistics rose from 233,903 TEUs in 2023 to 331,043 TEUs in 2024, with the average price per TEU increasing from 4,000 RMB to 4,813 RMB [1]. Market Position and Comparison - 乐舱物流's revenue and net profit growth rates outperformed several comparable companies, including 中远海控 and 东方海外国际, with a nearly 60% revenue growth and a 232% net profit increase [1]. - Among smaller comparable companies, 乐舱物流 also showed superior growth compared to 太平洋航运 and 天津港发展 [1]. Business Strategy and Expansion - The company has restarted self-operated shipping routes and is expanding its overseas warehousing business, enhancing its asset investment strategy to adapt to market changes and improve returns [2][3]. - The revenue from self-operated cross-border logistics services accounted for 15.5% of total revenue, with a significant increase of 84% year-on-year, reaching 1.834 billion RMB [4]. - The company plans to acquire two 14,700 TEU container ships for approximately 289.6 million USD to enhance its fleet and reduce costs per TEU [4]. Industry Outlook - The global shipping market is experiencing its strongest period since 2008, with a projected 6% increase in overall ton-mile demand for 2024, the fastest growth since 2010 [2][6]. - The company is expected to benefit from ongoing high demand in the global cross-border logistics market, with a focus on innovative operational models and high-value acquisitions to achieve a revenue target of 10 billion RMB [7]. Future Plans - The company aims to continue seeking new growth points in the global logistics market while maintaining stable expansion and healthy cash flow [7]. - A stable dividend mechanism is planned to enhance investor returns while ensuring sustainable development [7].