Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - The shipping market is in a strong oscillation. The EC main contract rose by over 7% due to the Ministry of Commerce's countermeasures against 5 US - related subsidiaries of Hanwha Ocean Co., Ltd., triggering concerns about the supply of shipping capacity. The European line is in the year - end price - holding stage, with the first round of price - holding in late October showing initial results, and it has entered the second round in early November. Future price - holding is expected in the next two months. The strategy is to wait and see. Follow - up attention should be paid to Sino - US relations, end - of - month loading, and November empty sailings [6] 3. Summary by Relevant Catalogs 3.1 Shipping Freight Index - **Shanghai Export Container Freight Composite Index (SCFI)**: The current value is 1310, up 12.92% from the previous value of 1160 [3] - **China Export Container Freight Index (CCFI)**: The current value is 973, down 4.11% from the previous value of 1015 [3] - **SCFI - US West**: The current value is 1936, up 31.88% from the previous value of 1468 [3] - **SCFIS - US West**: The current value is 862, down 1.60% from the previous value of 876 [3] - **SCFI - US East**: The current value is 2853, up 16.35% from the previous value of 2452 [3] - **SCFI - Northwest Europe**: The current value is 1145, up 7.21% from the previous value of 1068 [3] - **SCFIS - Northwest Europe**: The current value is 1031, down 1.43% from the previous value of 1046 [3] - **SCFI - Mediterranean**: The current value is 1613, up 3.53% from the previous value of 1558 [3] 3.2 Shipping Derivative Contracts - **Contract Prices**: For contracts such as EC2506, EC2608, etc., the prices have different degrees of increase, with the increase ranging from 0.29% to 3.68% [3] - **Contract Holdings**: For contracts such as EC2606, EC2608, etc., the holdings have different degrees of change, with the change ranging from a decrease of 91 to an increase of 442 [3] - **Monthly Spreads**: The 10 - 12, 12 - 2, and 12 - 4 monthly spreads have decreased by 24.1, 22.7, and 3.8 respectively [3] 3.3 Market News - **US - Israel Relations**: US Vice - President J.D. Vance is expected to visit Israel next Tuesday to promote the implementation of the Gaza war cease - fire agreement, but there are still uncertainties about "Hamas disarmament" and "Gaza demilitarization" [5] - **Egypt's Shipping Loss**: Egypt claims to have lost over $9 billion due to Houthi attacks on Red Sea shipping [5] - **US Tariff Policy**: The US may soon announce a long tariff exemption list, and intense lobbying is expected [5] - **US - China Tariff Relations**: US Treasury Secretary Scott Bessent plans to meet with Chinese Vice - Premier He Lifeng in Malaysia next week to prevent the escalation of the US - China tariff war [5] - **Middle East Peace Process**: White House envoy Steve Witkoff will travel to the Middle East on Sunday night to follow up on the Gaza cease - fire agreement [5] - **IMO's Decision**: The International Maritime Organization (IMO) will discuss the "Net Zero Framework" (NZF) [5]