1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints of the Report - The current price of shipping companies has been slightly reduced and is almost at its peak, while the export rush effect of the photovoltaic tax - refund policy supports the April contract. Investors are advised to be cautious, pay attention to the operation rhythm and risk control, and track geopolitical, shipping capacity and cargo volume data in a timely manner [7][36] 3. Summary According to the Directory 3.1. Market Review - The futures price of the container shipping index (European line) fluctuated slightly this week. The main contract EC2604 closed up 0.75%, and the far - month contracts had a decline ranging from - 2% to - 1%. The latest SCFIS European line settlement freight rate index was 1792.14, down 67.17 points from last week, a 3.6% month - on - month decrease. The trading volume and open interest of the EC2604 contract decreased slightly this week [6][10][15] 3.2. News Review and Analysis - Iran and the US held nuclear - issue negotiations, which had a neutral impact; the European Central Bank maintained the benchmark interest rate, strengthening the market's expectation of stable monetary policy, with a neutral impact; the Fed's attitude towards interest - rate cuts was divided, with a neutral impact; Trump's remarks on international relations had a neutral - to - positive impact [18] 3.3. Weekly Market Data - The basis and spread of the container shipping index (European line) futures contracts shrank this week; the export container freight rate index declined; the global container shipping capacity continued to grow, and the European line capacity rebounded slightly; the BDI and BPI declined, and the freight rate fluctuated slightly; the charter price of Panamax ships rebounded; the spread between the offshore and on - shore RMB against the US dollar converged [23][25][29][31] 3.4. Market Outlook and Strategy - The container shipping index (European line) futures price fluctuated slightly this week. The cancellation of the full - tax refund for photovoltaic products may lead to an export rush and boost long - term contract cargo volume. China's foreign trade improved significantly in December. The spot freight rate of shipping companies continued the pre - holiday price - cut trend to attract cargo. The resumption of the Red Sea Canal passage by shipping companies has implementation risks. The market is optimistic about the economic recovery in the eurozone [6][35]