Group 1: Shipping Derivatives Data - Current values and previous values of various shipping freight rate indices are provided, including SCFI - East US, SCFI - West US, SCFIS - West US, SCFI - Northwest Europe, CCFI, SCFI - Mediterranean, and SCFIS - Northwest Europe. The corresponding percentage changes are 14.85%, 1.70%, 15.93%, 14.50%, 11.43%, -1.07%, 0.71%, and 12.97% respectively [1][2] Group 2: Market News - Iran's energy facilities were attacked, leading to a significant increase in crude oil prices. Iran targeted multiple countries' energy facilities and shut down some gas fields. Iran also launched a new attack on Qatar's industrial city of Ras Laffan and set it on fire. Asian countries are buying large amounts of Russian oil, and the price of Far - East crude oil has a premium over international oil prices. Reuters reported that Iran attacked the Samref refinery in Yanbu Port, Saudi Arabia [3] Group 3: Market Review and Strategy for Container Shipping European Line (EC) - The market review shows a strong - biased oscillation [4] - The logic is that today's EC container shipping European line on the disk first rose and then fell, following the Middle - East geopolitical situation. The fundamentals in April are relatively weak. Although Maersk's April quotation has been raised to $2700, attention should be paid to whether the quotation of the PA alliance with a large spot exposure will affect the entire index [5] - The strategy is to wait and see [6]

Report Summary 1. Investment Rating - No investment rating for the industry is provided in the report. 2. Core Viewpoint - The escalation of the conflict between the US and Iran has become the core driver of the container shipping European line market. The risk of passage through the Strait of Hormuz has pushed up the industry's risk premium. The futures market has risen significantly due to emotional factors [5]. - The spot market shows a pattern of "strong expectation, weak reality". Although supported by increased detour costs and rising insurance premiums, it is currently in the traditional off - season, with weak demand and excess capacity pressure. The actual freight rates have not increased significantly in sync, and shipping companies' pricing strategies are divided [5]. - In the short term, the market is dominated by geopolitical sentiment. In the long - term, the progress of the conflict needs to be monitored. If the situation eases, prices will return to the supply - demand fundamentals after the risk premium fades. If the conflict persists, the shipping capacity structure may be continuously affected [5]. 3. Summary by Related Content Shipping Derivatives Data - **China Export Container Freight Rates**: The current values and changes of various container freight rate indices are presented. For example, the SCFI - US West index has a current value of 1333, a previous value of 1251, and a growth rate of 6.52%; the SCFI - US East index has a current value of 1857, a previous value of 1787, and a growth rate of 3.92%; the SCFI - Northwest Europe index has a current value of 2691, a previous value of 2524, and a growth rate of 6.62%. However, the SCFI - Mediterranean index has a current value of 1463, a previous value of 1572, and a decline rate of 0.95% [1]. Market News - Israel carried out air strikes on multiple targets in Iran. Iran launched ballistic missiles at all Gulf countries except Oman. The Houthi armed forces will resume attacks on shipping in the Red Sea corridor [3]. Market Condition - The main contract of the market hit the daily limit [4]. Strategy - The recommended strategy is to wait and see [7].

Report Summary 1. Report Industry Investment Rating - The report does not provide an investment rating for the industry [1][2] 2. Core View of the Report - The market is experiencing a weak and volatile trend. The core pricing factors are the supply - side cabin control strategy and geopolitical risks. The spot market maintains a tight - balance state before the holiday. Leading shipping companies' pre - holiday cargo bookings cover until mid - March, and with increased suspension of sailings, available cabins remain tight. After the holiday, downstream factories are in the process of resuming work, and there is no significant increase in the core export volume until mid - August. The shipping companies' price - holding strategies are diverging, and it is difficult to implement price increases in early March. Spot freight rates remain high and volatile without significant downward pressure. The futures market strengthened on Tuesday due to geopolitical sentiment and the resonance of the shipping sector. The market focus is on whether freight rates will continue to decline and the possibility of price increases in mid - to late March [2] 3. Summary by Key Points Shipping Freight Index - SCFI - East America: Present value is 1251, previous value is 1267, with a decline of - 0.78% [1] - SCFI - West America: Present value is 1088, previous value is 1101, with an increase of 4.90% [1] - SCFIS - West America: Present value is 1155, previous value is 1403, with a decline of - 3.03% [1] - SCFI - Northwest Europe: Present value is 1361, previous value is 1403, with a decline of - 0.24% [1] - CCFI Composite Index: Present value is 2524, previous value is 2530, with a decline of - 2.99% [1] - SCFI - Mediterranean: Present value is 1657, previous value is 1792, with a decline of - 7.53% [2] - SCFIS - Northwest Europe: Present value is 2177, previous value is 2291, with a decline of - 4.98% [2] Market News - Trump announced raising global tariffs from 10% to 15% on countries "exploiting" the US, and the new tariffs will be determined in the next few months [2] - The US military is discussing the schedule to strike Iran in two phases, "minor strike" and "major strike", and the earliest time is within the next few days [2] Strategy - The recommended strategy is to wait and see [5]

Report Summary - **Report Title**: Shipping Derivatives Data Daily Report [2] - **Research Institute**: Guomao Futures Research Institute, Energy and Chemical Research Center [3] - **Author**: Lu Dingyi [3] - **Date**: February 12, 2026 [3] 1. Industry Investment Rating - No industry investment rating is provided in the report. 2. Core Viewpoints - The current European line spot freight rates are in a downward trend due to the pre - Spring Festival cargo vacuum period, with each alliance's price quotes showing differentiated adjustments. The supply - demand imbalance suppresses freight rates, but 3 leading shipping companies have proposed to increase rates to $3000/FEU in March [5]. - Maersk's March first - week European route freight rate remains at the February level, and the previously proposed March price increase expectation has not been fulfilled. Other shipping companies and alliances are likely to follow Maersk's pricing. If the post - Spring Festival cargo volume recovery is weak, spot freight rates may be further adjusted downwards [7]. - In the short - term, the trading activity of newly listed contracts is low. The market will maintain a range - bound pattern. Key factors to watch include other shipping companies' March freight rate follow - up, post - festival cargo volume recovery, and changes in passive blank sailings caused by previous port congestion [7]. - The short - term cost - effectiveness of shorting has decreased. Attention should be paid to going long on the 06 contract at low levels and shorting the off - season 10 contract on rebounds [8]. 3. Summary by Relevant Content 3.1 Shipping Freight Index | Index | Present Value | Previous Value | Change Rate | | --- | --- | --- | --- | | SCFI | 1267 | 1317 | -3.81% | | CCFI | 1122 | 1176 | -4.55% | | SCFI - US West | 1801 | 1867 | -3.54% | | SCFIS - US West | 1155 | 1101 | 4.90% | | SCFI - US East | 2530 | 2605 | -2.88% | | SCFI - Northwest Europe | 1403 | 1418 | -1.06% | | SCFIS - Northwest Europe | 1657 | 1792 | -7.53% | | SCFI - Mediterranean | 2291 | 2424 | -5.49% | [4] 3.2 Spot Price and Market Situation - The current European line spot freight rates are falling due to the pre - Spring Festival cargo vacuum period, with each alliance's price quotes showing differentiated adjustments. Shipping alliances are reducing prices to grab cargo, and the supply - demand imbalance suppresses freight rates [5]. - Three leading shipping companies have proposed to increase rates to $3000/FEU in March [5]. 3.3 Market Logic - Maersk's March first - week European route freight rate remains at the February level, and other shipping companies and alliances are likely to follow. If the post - Spring Festival cargo volume recovery is weak, spot freight rates may be further adjusted downwards, similar to the situation in 2025 [7]. - In the short - term, the trading activity of newly listed contracts is low. Key factors to watch include other shipping companies' March freight rate follow - up, post - festival cargo volume recovery, and changes in passive blank sailings caused by previous port congestion [7]. 3.4 Strategy - The short - term cost - effectiveness of shorting has decreased. Attention should be paid to going long on the 06 contract at low levels and shorting the off - season 10 contract on rebounds [8].

1. Report Industry Investment Rating - Not provided 2. Core Views - The shipping derivatives market shows a mixed situation. The China Export Container Freight Index has generally declined, with the SCFI - West America down 9.68%, SCFIS - West America down 2.74%, SCFI - East America down 14.91%, SCFI - Northwest Europe down 10.05%, SCFI - Mediterranean down 3.60%, and the comprehensive index SCFI down 10.41% [1][2]. - The spot - futures market of the container shipping European line EC has rebounded after a significant decline. In the short - term, it is constrained by pre - holiday freight rates, and in the long - term, it focuses on the supply - demand game after the holiday [6]. - The short - term repair trend is clear but restricted by post - holiday expectations. The spot market lacks a clear main line, pre - holiday freight rates are basically determined, and post - holiday pressure is prominent. Freight rates may fall below $1500. The effect of shipping companies' price - increasing and stabilizing measures is expected to be poor. The impact of photovoltaic rush shipments needs to be confirmed in March bookings and is limited. The recommended strategy is to reduce the short - selling cost - effectiveness in the short - term, focus on going long on 06 contracts at low levels and short - selling the off - season 10 contracts on rebounds [8]. 3. Summary by Related Catalogs Shipping Derivatives Data - **China Export Container Freight Index**: The current values of SCFI - West America, SCFIS - West America, SCFI - East America, SCFI - Northwest Europe, SCFI - Mediterranean, and the comprehensive index SCFI are 1317, 1176, 1101, 1418, 1792, and 2605 respectively, with corresponding previous values of 1209, 2084, 1595, 1458, 1859, and 2896, and the respective decline rates are 9.68%, 2.74%, 14.91%, 10.05%, 3.60%, and 10.41% [1][2]. Market News - **Geopolitical Situation**: Mixed signals are released between the US and Iran. The probability of the market's collective prediction of a military strike has slightly declined. Iranian senior officials said that efforts to start negotiations with the US are making progress. The Wall Street Journal reported that the possibility of the US launching an air strike on Iran in the near future is low, and the "Lincoln" aircraft carrier has left the Oman Sea and entered the Indian Ocean [3]. Market Conditions - **Overall Situation**: The market shows a volatile and slightly stronger trend [4]. - **Container Shipping European Line EC**: The spot - futures market has rebounded after a significant decline. In the short - term, it is restricted by pre - holiday freight rates, and in the long - term, it focuses on the supply - demand game after the holiday [6]. Market Analysis and Strategy - **Analysis**: The short - term repair trend is clear but restricted by post - holiday expectations. The spot market lacks a clear main line, pre - holiday freight rates are basically determined, and post - holiday pressure is prominent. Freight rates may fall below $1500. The effect of shipping companies' price - increasing and stabilizing measures is expected to be poor. The impact of photovoltaic rush shipments needs to be confirmed in March bookings and is limited [8]. - **Strategy**: Reduce the short - selling cost - effectiveness in the short - term, focus on going long on 06 contracts at low levels and short - selling the off - season 10 contracts on rebounds [8].

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - The market's collective forecast probability of a military strike has slightly declined as the US and Iran are sending mixed signals. Iran's senior officials said that efforts to start negotiations with the US are making progress, and the US is unlikely to conduct an air strike on Iran in the near term as it is still deploying air - defense capabilities in the region. The "Lincoln" aircraft carrier has left the Oman Sea and entered the Indian Ocean [5]. - The container shipping market shows an oscillating trend. The container shipping European route EC spot - futures market rebounded, mainly due to the unexpectedly narrowed decline of the SCFIS index and the recovery of the commodity market atmosphere. The futures main contract EC2604 oscillated and rebounded, with a closing increase of 5.22% and a clear short - term repair trend but restricted by post - festival expectations. The spot market lacks a clear main line, and post - festival pressure is prominent, with freight rates possibly falling below $2000 [7]. - The short - term cost - effectiveness of short - selling is reduced. Attention should be paid to going long on contract 06 at low levels and short - selling contract 10 during the off - season when it rebounds [8]. 3. Summary by Related Catalogs Shipping Derivatives Data - **Container Shipping Freight Index**: The current values of Shanghai Export Container Freight Composite Index (SCFI), China Export Container Freight Index (CCFI), SCFI - US West, SCFIS - US West, SCFI - US East, SCFI - Northwest Europe, SCFIS - Northwest Europe, and SCFI - Mediterranean are 1317, 1176, 1867, 1101, 2605, 1418, 1792, and 2424 respectively. The previous values are 1458, 1209, 2084, 1294, 2896, 1595, 1859, and 2756 respectively. The corresponding percentage changes are - 9.68%, - 2.74%, - 10.41%, - 14.91%, - 10.05%, - 11.10%, - 3.60%, and - 12.05% [4]. Market Situation and Freight Price - **Market Situation**: The market shows an oscillating trend. The container shipping European route EC spot - futures market rebounded after a significant decline the previous day, with strong spot - futures linkage. The futures main contract EC2604 oscillated and rebounded, closing up 5.22% at 1220.8 points, with a maximum of 1254.0 points and a minimum of 1186.0 points, and a trading volume of 29296 lots. The far - month contracts also rose slightly by 1 - 3% [7]. - **Freight Price**: The freight price shows a pre - festival decline. Different alliances have different adjustments. For example, in the GEMINI alliance, Maersk's opening price in WK6 dropped to $2000 - 2100/FEU and further to $1995/FEU in WK7, while Hapag - Lloyd maintained $2300 - 2500/FEU in WK6 and remained stable in WK7. In the OA alliance, the price in WK6 dropped slightly to around $2500/FBU, and in WK7, COSCO Shipping in North China ports adjusted to $2200 - 2300/FEU, with East China ports likely to follow. In the PA alliance, the price fluctuated between $2200 - 2400/FEU in WK6, and in WK7, affected by ONE's WK8 list price of $2000/FEU, the average price approached $2000/FEU, with some volume - special prices at $1800/FEU. The NSC also adjusted slightly downward following the market rhythm [7].

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - The MSK European line spot freight rate has been reduced with an expanding decline. Before the Spring Festival, shipping companies need to allocate in - festival capacity to cope with reduced demand. Coupled with high current capacity, the pressure to attract cargo has increased significantly. The PA alliance is likely to follow suit in reducing prices, and the spot quotation in early February may continue to decline. CMA CGM's multiple routes originally planned to resume through the Suez Canal have returned to circumnavigate the Cape of Good Hope, which may drive the sentiment of far - month contracts to rebound. However, the resumption is not fully priced in the market, and the supply - demand situation of EC in 2026 is weakening. Overall, near - month contracts will continue to be weak, and the strategy is still to short - allocate off - season contracts [8]. 3. Summary by Relevant Catalog 3.1 Shipping Derivatives Data - **Freight Rate Index**: The current value of the comprehensive index SCFI is 1574, with a decline of 4.45% compared to the previous value of 1647; the CCFI index is 1210, with an increase of 1.25% compared to the previous value of 1195. For different routes, SCFI - US West is 2194, down 1.08%; SCFIS - US West is 1305, down 1.36%; SCFI - US East is 3163, up 1.12%; SCFI - Northwest Europe is 1676, down 2.50%; SCFIS - Northwest Europe is 1954, down 0.10%; SCFI - Mediterranean is 2983, down 7.70% [6]. - **Spot Prices**: - **OCEAN Alliance**: CMA CGM's price is 3693/FEU, relatively firm; COSCO Shipping's is 3325/FEU; Evergreen Marine's is 3030 - 3130/FEU, about 400 lower than before; Orient Overseas' is 2880/FEU, 150 lower than before. The overall FAK central value is about 2700 - 3300/FEU [6]. - **GEMINI Alliance**: Maersk's price in Week 4 (1.20 - 1.26) is 1695/2730 (20'/40'), dropping to 1510/2420 in Week 5, and non - European base ports are as low as 2400/FEU; Hapag - Lloyd's is 1585/2535 (20'/40'), and the February quote remains unchanged. The overall FMK central value is about 2400 - 2700/FEU [6]. - **PREMIER Alliance + MSC**: MSC's is 1580/2640 (20'/40'); Ocean Network Express (ONE)'s is 1680/2635 (20'/40'), with the same price in February; Yang Ming Marine's is about 2600/FEU, relatively stable; HMA's is 1433/2436 (20'/40') [6]. 3.2 Market Logic and Strategy - **Logic**: The pressure on shipping companies to attract cargo has increased due to capacity and demand factors. The change in CMA CGM's routes may affect far - month contracts, but the market has not fully priced in the resumption, and the long - term supply - demand situation is weak [8]. - **Strategy**: Pay attention to the opportunity of short - allocating off - season contracts [9].

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - The current EC2602 contract is supported by pre - holiday shipments, while the BC2604 contract declines due to negotiation expectations. The core drivers are the resumption of Red Sea routes led by Maersk, combined with a capacity growth rate exceeding demand. The long - term pressure of oversupply remains unchanged, and short - term exports of photovoltaic and battery products provide marginal support. In the short term, the market is volatile, and the far - month contracts are suppressed by the resumption expectations. It's necessary to closely monitor the route recovery rhythm and shipping company pricing to seize interval opportunities [9]. - The strategy is to focus on the opportunity of short - allocating off - season contracts [10]. 3. Summary by Relevant Catalogs 3.1 Shipping Freight Index - The present value of the Shanghai Export Containerized Freight Index (SCFI) comprehensive index is 1574, with a previous value of 1647 and a decline of 4.45%. The China Containerized Freight Index (CCFI) has a present value of 1210, a previous value not clearly given in a comparable way, and an increase of 1.25%. For specific routes, SCFI - US West has a present value of 2194, down 1.08% from the previous value of 2218; SCFIS - US West is 1305, down 1.36% from 1323; SCFI - US East is 3163, up 1.12% from 3128; SCFI - Northwest Europe is 1676, down 2.50% from 1719; SCFIS - Northwest Europe is 1954, down 0.10% from 1956; and SCFI - Mediterranean is 2983, down 7.70% from 3232 [6]. 3.2 EC Spot Price - OCEAN Alliance: CMA CGM quotes 3693/FEU with relatively firm prices. COSCO Shipping quotes 3325/FEU. Evergreen Marine quotes 3030 - 3130/FEU, about 400 lower than before. Orient Overseas quotes 2880/FEU, 150 lower than before. The overall FAK central range is about 32700 - 3300/FEU. - GEMINI Alliance: Maersk's Week 4 (1.20 - 1.26) price is 1695/2730 (20'/40'), dropping to 1510/2420 in Week 5, and non - European base rates are as low as 2400/FEU. Hapag - Lloyd quotes 1585/2535 (20'/40'), with the February quote remaining unchanged. The overall FAK central range is about 2400 - 2700/FEU. - PREMIER Alliance + MSC: MSC quotes 1580/2640 (20'/40'). Ocean Network Express (ONE) quotes 1680/2635 (20'/40'), with the same price in February. Yang Ming Marine Transport quotes about 2600/FEU with relatively stable prices. HMM quotes 1433/2436 (20'/40') with a relatively low price. The overall FAK central range is about 2400 - 2650/FEU [7]. 3.3 Market News - Trump announced that starting from February 1st, he will impose a 10% tariff on Denmark, the UK, France, Germany, Sweden, Finland, the Netherlands, and Norway due to disputes over Greenland with relevant countries, and the tariff will be raised to 25% on June 1st. - Trump's advisors are impatient with Israeli Prime Minister Benjamin Netanyahu's objections and continue to advance the second stage of the "Gaza Peace Plan". Netanyahu issued a sharply worded statement opposing the list of members of the Gaza "Implementation Committee" released by the White House on Friday. - The new Sokhna container terminal in Egypt is put into operation, with Hutchison Ports, CMA CGM, and COSCO Shipping as the core shareholders. The support from the Ocean Alliance is expected to increase, and RSCT No.1 has become the most important and newly - launched modern large - scale container terminal on the Red Sea side of Egypt [6].

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View of the Report The European shipping line currently shows a "near - strong, far - weak" oscillating pattern. Spot quotes are continuously loosening, with the FAK central price of the three major alliances dropping to $2200 - 2700/FEU. The main futures contract is oscillating weakly. The EC2602 contract is supported by pre - holiday shipments, while the EC2604 contract has fallen by over 8% due to off - season expectations. The core drivers are Maersk's leading the resumption of Red Sea voyages, combined with the shipping capacity growth rate exceeding demand, and the long - term pressure of oversupply remaining unchanged. Short - term exports of photovoltaic and battery products provide marginal support. It will oscillate in the short term, and the far - month contracts are suppressed by resumption expectations. It's necessary to closely monitor the route recovery rhythm and shipping company pricing to seize interval opportunities [9]. 3. Summary by Related Content Shipping Index - The current value of the Shanghai Export Container Freight Index (SCFI) is 1574, down 4.45% from the previous value; the China Export Container Freight Index (CCFI) is 1210, up 1.25%. For different routes, SCFI - US West is 2194, down 1.08%; SCFIS - US West is 1305, down 1.36%; SCFI - US East is 3163, up 1.12%; SCFI - Northwest Europe is 1676, down 2.50%; SCFIS - Northwest Europe is 1954, down 0.10%; SCFI - Mediterranean is 2983, down 7.70% [6]. Spot Price - OCEAN Alliance: CMA CGM's quote is relatively firm at $3693/FEU; COSCO Shipping is at $3325/FEU; Evergreen Marine has dropped about $400 to $3030 - 3130/FEU; Orient Overseas Container Line has dropped $150 to $2880/FEU. The overall FAK central price is about $2700 - 3300/FEU. - GEMINI Alliance: Maersk's price dropped from $1695/2730 (20'/40') in Week 4 (January 20 - 26) to $1510/2420 in Week 5, with non - European base ports as low as $2400/FEU; Hapag - Lloyd's price is $1585/2535 (20'/40'), and the February quote remains unchanged. The overall FMK central price is about $2400 - 2700/FEU. - PREMIER Alliance + MSC: MSC is at $1580/2640 (20'/40'); Ocean Network Express (ONE) is at $1680/2635 (20'/40') with the same price in February; Yang Ming Marine Transport's price is relatively stable at about $2600/FEU; HMM's quote is relatively low at $1433/2436 (20'/40'). The overall FAK central price is about $2400 - 2650/FEU [7]. Strategy Pay attention to the opportunity of short - allocating off - season contracts [10].

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View of the Report - The current shipping market shows a "near - strong, far - weak" oscillating pattern. Spot quotes are continuously loosening, and the FAK central price of the three major alliances has dropped to $2,200 - 2,700/FEU. The main futures contract is oscillating weakly. The EC2602 contract is supported by pre - holiday shipments, while the EC2604 contract has fallen by over 8% due to off - season expectations. The core drivers are Maersk leading the resumption of Red Sea routes, with capacity growth exceeding demand, and the long - term supply - demand imbalance remaining unchanged. Short - term exports of photovoltaic and battery products provide marginal support. The market is expected to oscillate in the short term, and the far - month contracts are suppressed by resumption expectations. It is necessary to closely monitor the recovery rhythm of routes and shipping company pricing to seize interval opportunities. The recommended strategy is to wait and see [9]. 3. Summary by Relevant Catalogs 3.1 Shipping Derivatives Data - **Freight Index**: The Shanghai Export Container Freight Index (SCFI) is 1,574, down 4.45% from the previous value; the China Export Container Freight Index (CCFI) is 1,210, up 1.25%. SCFI - West America is 2,194, down 1.08%; SCFIS - West America is 1,323, up 5.84%; SCFI - East America is 3,163, up 1.12%; SCFI - Northwest Europe is 1,676, down 2.50%. SCFIS - Northwest Europe is 1,956, up 8.97%; SCFI - Mediterranean is 2,983, down 7.70% [6]. - **Spot Price**: In the OCEAN Alliance, CMA CGM's price is $3,693/FEU, COSCO Shipping's is $3,325/FEU, Evergreen Marine's is $3,030 - 3,130/FEU (down about $400 from the previous period), and Orient Overseas' is $2,880/FEU (down $150 from the previous period), with the overall FAK central price at about $1,270 - 3,300/FEU. In the GEMINI Alliance, Maersk's price in Week 4 (1.20 - 1.26) is $1,695/2,730 (20'/40'), dropping to $1,510/2,420 in Week 5, and non - European base ports are as low as $2,400/FEU; Hapag - Lloyd's is $1,585/2,535 (20'/40'), with the February quote remaining unchanged, and the overall FAK central price at about $2,400 - 2,700/FEU. In the PREMIER Alliance + MSC, MSC's price is $1,580/2,640 (20'/40'), Ocean Network Express (ONE)'s is $1,680/2,635 (20'/40'), with the February price the same; Yang Ming Marine's is about $2,600/FBU, with relatively stable prices; HIM's is $1,433/2,436 (20'/40'), with a relatively low quote, and the overall FAK central price at about $2,400 - 2,650/FEU [7]. - **Market Situation**: The market is in a downward trend. The shipping line shows a "near - strong, far - weak" oscillating pattern. Spot quotes are loosening, and the FAK central price of the three major alliances has dropped to $2,200 - 2,700/FEU. The main futures contract is oscillating weakly, with the EC2602 contract supported by pre - holiday shipments and the EC2604 contract falling by over 8% due to off - season expectations [7][9]. 3.2 Market News - Trump plans to impose a 10% tariff on Denmark, the UK, France, Germany, Sweden, Finland, the Netherlands, and Norway starting from February 1st, and the tariff will increase to 25% on June 1st [6]. - The US is advancing the second phase of the "Gaza Peace Plan" despite opposition from Israeli Prime Minister Benjamin Netanyahu [6]. - The Sokhna Container Terminal in Egypt has been put into operation, with Hutchison Ports, CMA CGM, and COSCO Shipping as the core shareholders, and the support from the Ocean Alliance is expected to increase [6].