1. Report Information - Report Type: Daily Report on Container Shipping Index [1] - Date: September 30, 2025 [2] - Research Team: Macro Financial Team [4] - Researchers: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] 2. Investment Rating - No investment rating information is provided in the report. 3. Core View - The SCFIS index accelerated its decline this week, falling below 1130 points, indicating that the shipping reality is weaker than expected, and the basis protection cushion for futures has significantly decreased. Although Maersk raised the freight rate for the third week of October to $1800 per large container last week, which shows the shipowners' willingness to support prices at the end of the year and boosts market sentiment, the overall loading forecast rate after the National Day holiday is low, and this price may not be realized. Attention should be paid to whether other shipping companies will follow up to form a price increase force to bottom out the freight rate. In addition, the renewed escalation of the Middle East situation is expected to support the far - month contracts, and there should be low - buying opportunities in December [8]. 4. Summary by Directory 4.1 Market Review and Operation Suggestions - **Market Situation**: The SCFIS index accelerated its decline this week, falling below 1130 points, with the basis protection cushion for futures significantly decreasing. Maersk raised the October third - week freight rate, but the post - National Day loading forecast rate is low, and the price may not be realized. The Middle East situation is expected to support far - month contracts [8]. - **Operation Suggestion**: There should be low - buying opportunities in December [8]. 4.2 Industry News - From September 22 to September 26, the demand for China's export container transportation weakened, the freight rates in the ocean - going routes continued to adjust, and the comprehensive index continued to decline. On September 26, the Shanghai Export Container Comprehensive Freight Index was 1114.52 points, down 7.0% from the previous period, with the decline narrowing. - **European Routes**: Economic data in Europe is poor, demand growth in the transportation market lacks momentum, and the spot market booking price continued to decline. On September 26, the market freight rate from Shanghai Port to basic ports in Europe was $971/TEU, down 7.7% from the previous period. - **Mediterranean Routes**: The transportation market situation is similar to that in Europe, and the market freight rate continued to adjust. On September 26, the market freight rate from Shanghai Port to basic ports in the Mediterranean was $1485/TEU, down 9.3% from the previous period. - **North American Routes**: Affected by the Fed's interest rate cut and rising inflation expectations, the economic situation in the US is declining, demand in the transportation market has not improved, and the spot market booking price continued to fall. On September 26, the market freight rates from Shanghai Port to basic ports in the US West and East were $1460/FEU and $2385/FEU respectively, down 10.8% and 6.7% from the previous period [9]. 4.3 Data Overview 4.3.1 Container Shipping Spot Prices | Route | September 29, 2025 | September 22, 2025 | Change | Percentage Change | | --- | --- | --- | --- | --- | | SCFIS: European Routes (Basic Ports) | 1120.49 | 1254.92 | - 134.43 | - 10.7% | | SCFIS: US West Routes (Basic Ports) | 921.25 | 1193.64 | - 272.39 | - 22.8% | [12] 4.3.2 Container Shipping Index (European Routes) Futures Market | Contract | Previous Settlement Price | Opening Price | Closing Price | Settlement Price | Change | Percentage Change (%) | Trading Volume | Open Interest | Change in Open Interest | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | EC2510 | 1150.8 | 1141.0 | 1115.0 | 1122.0 | - 35.8 | - 3.11 | 16679 | 29314 | - 3117 | | EC2512 | 1880.6 | 1763.0 | 1756.3 | 1735.0 | - 24.3 | - 1.36 | 11879 | 20683 | - 1012 | | EC2602 | 1691.9 | 1668.1 | 1667.0 | 1644.7 | - 24.9 | - 1.47 | 4011 | 8852 | 84 | | EC2604 | 1279.1 | 1260.0 | 1253.0 | 1253.1 | - 26.1 | - 2.04 | 1189 | 9110 | 11 | | EC2606 | 1482.6 | 1463.6 | 1452.7 | 1453.8 | - 29.9 | - 2.02 | 97 | 930 | - 8 | | EC2608 | 1631.0 | 1601.1 | 1595.0 | 1598.9 | - 36.0 | - 2.21 | 75 | 530 | - 12 | [6] 4.3.3 Shipping - Related Data Charts - The report provides charts on Shanghai Export Container Settlement Freight Index, Container Shipping Index (European Routes) Futures, European container ship capacity, global container ship orders on hand, Shanghai - European basic port freight rates, and Shanghai - Rotterdam spot freight rates, with data sources from Wind and the Research and Development Department of Jianxin Futures [12][14][18][23][26]