1. Report Information - Report Title: Container Shipping Index Daily Report [1] - Date: February 10, 2026 [2] - Researchers: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] 2. Core Viewpoint - The SCFIS dropped below 1700 points this week. The peak pre - Chinese New Year shipping demand has passed, and spot freight rates will enter a downward channel. Given slow post - holiday resumption and the upcoming April off - season, it's difficult to maintain high prices. Although the major airlines plan to resume Red Sea routes, the market is likely to remain in the off - season after the Chinese New Year. The high capacity in March limits potential price rebounds. Geopolitical conflicts may provide trading hotspots, and it is recommended to short - sell the 04 contract on rallies and go long on the 08 contract on dips [8] 3. Content Summary by Section 3.1 Market Review and Operation Suggestions - **Market Condition**: The SCFIS fell below 1700 points. The pre - Chinese New Year peak shipping demand has passed, and spot freight rates are expected to decline. For example, the pre - holiday quote from Shanghai to Rotterdam by Maersk was around $2100 - 2170 per large container, dropping to $2000 after the holiday. OCEAN Alliance's February quote was in the range of $2293 - 2430, and Premier Alliance's February quote was around $2035, with a $2535 quote for March. However, due to slow post - holiday resumption and the April off - season, it's hard to maintain high prices. The major airlines' plan to resume Red Sea routes may not change the off - season trend, and the high capacity in March limits potential rebounds [8] - **Operation Suggestions**: Short - sell the 04 contract on rallies and go long on the 08 contract on dips [8] 3.2 Industry News - **Overall Market**: From February 2nd to 6th, the China export container shipping market was generally stable. Before the Chinese New Year, the cargo volume was high, and the overall index declined. The Shanghai Export Containerized Freight Index on February 6th was 1266.56 points, a 3.8% drop from the previous period [9] - **European Routes**: European economic data was stable, and the shipping demand was stable. Due to pre - holiday stocking, the cargo volume was high, and the average cabin utilization rate at Shanghai Port was nearly full. The freight rate from Shanghai Port to European basic ports on February 6th was $1403/TEU, a 1.1% drop from the previous period [9] - **Mediterranean Routes**: Similar to European routes, the spot booking price in the spot market dropped more than in Europe. The freight rate from Shanghai Port to Mediterranean basic ports on February 6th was $2291/TEU, a 5.5% drop from the previous period [9] - **North American Routes**: The consumer current situation index released by the University of Michigan in January was 55.4, higher than expected and the previous value but lower than last year's average, indicating high uncertainty in the US economy. The shipping market supply - demand situation was stable, with the average cabin utilization rate at Shanghai Port above 90% and some flights to the US West fully loaded. The freight rates from Shanghai Port to the US West and East basic ports on February 6th were $1801/FEU and $2530/FEU respectively, dropping 3.5% and 2.9% from the previous period [9][10] - **Geopolitical News**: The US announced the second - stage plan for the Gaza cease - fire on January 14th, focusing on demilitarization, technocratic governance, and post - war reconstruction. There are differences between Netanyahu and Trump on this plan. The Houthi armed forces in Yemen warned Saudi Arabia against military actions, and the Yemeni President's Leadership Council announced the establishment of a supreme military council [10] 3.3 Data Overview - **Container Shipping Spot Prices** - The SCFIS for European routes (basic ports) on February 9th was 1657.94, a 7.5% drop from February 2nd [12] - The SCFIS for US West routes (basic ports) on February 9th was 1155.66, a 4.9% increase from February 2nd [12] - **Container Shipping Index (European Routes) Futures Quotes**: The trading data of container shipping European routes futures on February 9th is shown in Table 1, including contract information such as pre - settlement price, opening price, closing price, settlement price, change, change rate, trading volume, open interest, and open interest change [6] - **Shipping - Related Data Trends**: There are multiple data charts shown, including container ship capacity in Europe, global container ship orders, Shanghai - European basic port freight rates, and Shanghai - Rotterdam spot freight rates [19][23]

Report Information - Report Title: Container Shipping Index Daily Report [1] - Date: February 6, 2026 [2] - Research Team: Macro Financial Team [4] - Researchers: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] Industry Investment Rating - Not provided in the report Core Views - Although Maersk and Hapag - Lloyd announced the resumption of the ME11 service of the GEMINI alliance through the Red Sea/Suez Canal from mid - February 2026, most European - line varieties closed higher, possibly due to the continued speculation on the US - Iran situation and photovoltaic rush shipments. The peak of the pre - Spring Festival rush shipment demand has passed, and spot freight rates are expected to enter a downward channel. After the Spring Festival, it is likely to continue the off - season performance, and the relatively high shipping capacity in March limits the possible rebound. However, geopolitical conflicts may continue to provide trading hotspots. It is recommended to short the 04 contract on rallies and go long on the 08 contract on dips [8] Summary by Directory 1. Market Review and Operation Suggestions - **Market Situation**: Maersk and Hapag - Lloyd announced the resumption of the ME11 service of the GEMINI alliance through the Red Sea/Suez Canal from mid - February 2026, but European - line varieties closed higher. The pre - Spring Festival rush shipment peak has passed, and spot freight rates will decline. After the Spring Festival, due to slow resumption of work and the approaching of the traditional off - season in April, it is difficult to maintain high prices. Geopolitical conflicts may boost the sentiment of far - month peak - season contracts [8] - **Operation Suggestions**: Short the 04 contract on rallies and go long on the 08 contract on dips [8] 2. Industry News - **China's Export Container Transport Market**: From January 26 to 30, the market continued to adjust. The overall demand for ocean routes was weak, and market freight rates declined, dragging down the composite index. On January 30, the Shanghai Export Container Composite Freight Index was 1316.75 points, a 9.7% decrease from the previous period [9] - **European Routes**: The eurozone's January composite PMI was 51.5, lower than expected. Economic growth momentum slowed, and the service industry's expansion weakened. On January 30, the market freight rate from Shanghai Port to European base ports was $1418/TEU, an 11.1% decrease from the previous period [9] - **Mediterranean Routes**: The market situation was similar to that of European routes. The spot booking price continued to decline. On January 30, the market freight rate from Shanghai Port to Mediterranean base ports was $2424/TEU, a 12.0% decrease from the previous period [9] - **North American Routes**: The US consumer confidence index in January dropped to 84.5, the lowest since May 2014. The spot booking price continued to adjust. On January 30, the market freight rates from Shanghai Port to the US West and East base ports were $1867/FEU and $2605/FEU respectively, with decreases of 10.4% and 10.0% from the previous period [10] - **Other News**: The US announced the second phase of the Gaza cease - fire plan; the Houthi armed forces in Yemen warned Saudi Arabia about possible military actions [10] 3. Data Overview 3.1 Container Shipping Spot Prices - **Shanghai Export Container Settlement Freight Index**: From January 26 to February 2, the SCFIS for European routes decreased by 3.6% to 1792.14 points, and the SCFIS for US West routes decreased by 14.9% to 1101.4 points [12] 3.2 Container Shipping Index (European Line) Futures Market - Provided the trading data of container shipping European - line futures on February 5, including the opening price, closing price, settlement price, price change, price change rate, trading volume, open interest, and open interest change of each contract [6] 3.3 Shipping - Related Data Charts - Included charts of European container ship capacity, global container ship orders, Shanghai - European base port freight rates, and Shanghai - Rotterdam spot freight rates [18][23]

Report Overview - Report Title: "集运指数日报" [1] - Date: January 21, 2026 [2] - Researchers: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] Core Viewpoints - The spot market shows signs of reaching a peak, with the Shanghai Port's export freight rate to European base ports falling after rising, and the SCFIS index also dropping slightly. Multiple shipping companies have started to lower their quotes for late January, indicating that the inflection point of the spot high has emerged. Considering the frequent resumption of shipping by airlines despite the Red Sea situation, it is expected that normal passage will likely resume this year. Attention should be paid to short - selling opportunities for the April contract during the off - season [8]. Summary by Section 1.行情回顾与操作建议 - Spot market: The Shanghai Port's export freight rate to European base ports stopped rising and started to fall, with a 2.5% drop to $1676/TEU. The SCFIS index also declined slightly. Shipping companies such as Maersk and OOCL have lowered their quotes for late January, suggesting that the spot high has passed [8]. - Operation suggestion: Pay attention to short - selling opportunities for the April contract during the off - season [8]. 2.行业要闻 - Market situation from January 12 - 16: In response to the "Spring Festival" holiday in the next month, the cargo volume increased slightly, while the freight rates on ocean routes and the comprehensive index declined. The Shanghai Export Containerized Freight Index dropped 4.4% to 1574.12 points [9]. - European routes: The Sentix euro - zone investor confidence index in January was - 1.8, better than expected. The shipping demand was stable with a slight increase, the average cabin utilization rate in Shanghai Port was nearly full, and the freight rate dropped slightly, with the Shanghai Port's export freight rate to European base ports falling 2.5% to $1676/TEU [9]. - Mediterranean routes: Similar to European routes, the spot market booking price dropped more than that of European routes, with the Shanghai Port's export freight rate to Mediterranean base ports falling 7.7% to $2983/TEU [9]. - North American routes: The number of first - time unemployment benefit applicants in the US in the second week of January was 198,000, better than expected. The shipping market supply - demand situation was generally stable, the average cabin utilization rate in Shanghai Port was over 90%, and the spot market booking price fluctuated slightly. The Shanghai Port's export freight rates to the US West and East base ports were $2194/FEU and $3165/FEU respectively, with a 1.1% drop and a 1.2% increase respectively [10]. - Policy news: The Shanghai International Energy Exchange announced that the adjustment of the contract months of the Container Shipping Index (European Line) futures will be implemented from February 10, 2026, adding EC2605, EC2607, EC2609, and not adding EC2603. On March 31, 2026, EC2703 will be added [10]. - International news: The US announced the second phase of the Gaza cease - fire plan, but there are differences between Netanyahu and Trump. The US and the UK launched a large - scale military strike against the Houthi rebels in Yemen on January 12. The Houthi rebels warned Saudi Arabia against military action, and the Yemeni Presidential Leadership Council announced the establishment of a supreme military council [10]. 3.数据概览 3.1集运现货价格 - SCFIS for European routes (base ports) on January 19 was 1954.19, down 0.1% from January 12 [12]. - SCFIS for US West routes (base ports) on January 19 was 1305.27, down 1.4% from January 12 [12]. 3.2集运指数（欧线）期货行情 - The trading data of Container Shipping Index (European Line) futures on January 20 is presented in Table 1, including details such as the previous settlement price, opening price, closing price, settlement price, change, change rate, trading volume, open interest, and open interest change for different contracts [6]. 3.3航运相关数据走势图 - The report provides multiple charts, including the Shanghai Export Containerized Freight Index, the trend of the main and secondary main contracts of Container Shipping Index (European Line) futures, European container ship capacity, global container ship orders on hand, Shanghai - European base port freight rates, and Shanghai - Rotterdam spot freight rates [13][18][22]

美国总统特朗普在与以色列总理内塔尼亚胡会面时表示，"必须解除哈马斯的武装"。在美国试图巩固加 沙停火、推动停火计划进入第二阶段之际，此次会晤备受关注。 周一，特朗普在佛罗里达州海湖庄园欢迎内塔尼亚胡前来会谈时表示，他希望"非常迅速、尽可能快 地"进入多阶段停火协议的下一阶段。 不过，推进过程面临诸多障碍，其中哈马斯解除武装是关键症结之一。 多阶段停火协议实施之初进展不顺，促使外界担忧地区冲突可能在新的一年再度爆发。阿拉伯和穆斯林 伙伴国对以色列在这块饱受战争摧残、如今已分裂的巴勒斯坦飞地持续发动军事打击表示关切，同时也 对其在黎巴嫩和叙利亚的行动表示关切。 尽管以色列因加沙的惨烈局势在国际上遭到谴责，特朗普始终对以色列表示高度支持。但在何时、以及 如何将其加沙计划推进至被称为第二阶段的重建与和解阶段这一问题上，这位总统已经流露出不耐烦。 美国国务卿鲁比奥周一与内塔尼亚胡举行了会晤。本月早些时候，卢比奥对记者表示，和平进程的下一 步应是设立一个"和平委员会" —— 确定一批负责治理加沙的技术官僚 —— 同时，还应推动多国部队组 成国际稳定部队，以提供安全保障。 以色列称其正在抵御武装伊斯兰组织的新威胁。其中最主 ...