Report Overview - Report Date: September 29, 2025 [1] - Report Type: Container Shipping Daily Report - Research Group: Shipping Research Group Investment Rating - No investment rating provided in the report Core Views - The market continues to rebound, in line with the report's bottoming - out prediction, with far - month contracts stronger. It is recommended to control risks by holding an empty position during the holiday and setting stop - losses [2] - The tariff issue has a marginal effect, and the current focus is on the direction of spot freight rates. The main contract may be in the bottoming process, and it is recommended to participate with a light position or wait and see [4] - Although liner companies have announced a freight rate increase for late October, there are doubts about the implementation, and the market fluctuates widely and moves downward under the long - short game. Attention should be paid to tariff policies, the Middle East situation, and spot freight rates [4] Summary by Content Freight Rate Index - On September 22, SCFIS (European route) was 1254.92 points, down 12.9% from the previous period; SCFIS (US West route) was 1193.64 points, down 11.6% [3] - On September 26, NCFI (composite index) was 717.36 points, down 8.47% from the previous period; NCFI (European route) was 614.14 points, down 8.83%; NCFI (US West route) was 868.22 points, down 8.11% [3] - On September 26, SCFI was 1114.52 points, down 83.69 points from the previous period; SCFI (European route) was 971 USD/TEU, down 7.70%; SCFI (US West route) was 1460 USD/FEU, down 10.76% [3] - On September 26, CCFI (composite index) was 1087.41 points, down 2.9% from the previous period; CCFI (European route) was 1401.91 points, down 4.7%; CCFI (US West route) was 824.92 points, up 2.4% [3] Economic Data - Eurozone's September manufacturing PMI preliminary value was 49.5, back below the boom - bust line, lower than analysts' expectations and the previous value of 50.7. The service PMI preliminary value rose from 50.5 to 51.4, exceeding the expected 50.5. The composite PMI preliminary value was 51.2, exceeding analysts' expectations. The Sentix investor confidence index was - 9.2, with an expected - 2 and a previous value of - 3.7 [3] - In August, China's manufacturing PMI was 49.4%, up 0.1 percentage points from the previous month, and the manufacturing prosperity level improved. The composite PMI output index was 50.5%, up 0.3 percentage points from the previous month, indicating that the overall expansion of Chinese enterprises' production and business activities accelerated [4] - The preliminary value of the US September S&P Global manufacturing PMI was 52 (August final value was 53); the service PMI preliminary value was 53.9 (August final value was 54.5); the composite PMI preliminary value was 53.6 (August final value was 54.6) [4] Contract Information - On September 26, the main contract 2510 closed at 1139.0, down 1.86%, with a trading volume of 22,000 lots and an open interest of 32,400 lots, a decrease of 3095 lots from the previous day [4] Strategies - Short - term strategy: The main contract remains weak, and far - month contracts are stronger, in line with the bottoming - out prediction. Risk - takers are recommended to try to go long on the 12 and 02 contracts around 1600. Pay attention to the subsequent market trend, do not hold losing positions, and set stop - losses [5] - Arbitrage strategy: Under the background of international situation turmoil, each contract still follows the seasonal logic with large fluctuations. It is recommended to wait and see or try with a light position [5] - Long - term strategy: It is recommended to take profits when each contract rises, wait for the callback to stabilize, and then judge the subsequent direction [5] Other Information - The circuit - breaker limit for contracts 2508 - 2606 is adjusted to 18% [5] - The margin of the company for contracts 2508 - 2606 is adjusted to 28% [5] - The daily opening limit for all contracts 2508 - 2606 is 100 lots [5] - On September 27, local time, the Palestinian Islamic Resistance Movement (Hamas) was reported to agree to the US - proposed Gaza cease - fire plan, but Hamas has not yet commented. On September 26, Israeli Prime Minister Netanyahu defended Israel's military actions in the Gaza Strip and multiple Middle Eastern countries at the UN General Assembly, and his speech was protested by many parties [6]