Report Title - "【中信期货航运】美西、欧洲计划运力高位回落,至美国发运量维持低位 -- 数据报告20250916" [1] Report Analysts - An Jierui,从业资格号:F03100682,投资咨询号: Z0021085 [1] - Wu Xilu,从业资格号:F03117373,投资咨询号:Z0022651 [1] Core Views - High - frequency shipping capacity shows mixed trends, with the planned capacity of the US West route rebounding month - on - month and the North European capacity rising slightly. The shipping volume of container ships carrying goods from China to the US has dropped again at a low level, and the arrival volume at US ports has declined in the past two weeks. Domestic port throughput fluctuates but remains higher than the same period last year. US booking data also shows a downward trend [4][5] Summary by Content High - frequency Shipping Capacity - In the 39th week (September 21 - 28 planned capacity), the capacity of the US West route dropped to 340,000 TEU, a year - on - year decrease of 9.3% and a month - on - month decrease of 11.4%. The capacity of the US East route was 217,000 TEU, a year - on - year increase of 7.5% and a month - on - month increase of 31%. The capacity of the China - Southeast Asia route was operating at a high level, with a year - on - year positive growth of 37% but a narrowing increase, and a month - on - month decrease of 12.5% with an expanding decline. The capacity of the China - North Europe route in the 39th week decreased month - on - month, dropping to 325,000 TEU, a month - on - month decrease of 8.4% and a year - on - year decrease of 23.2%. The capacity of the Mediterranean route increased by 46.7% year - on - year and decreased by 8% month - on - month [4] Shipping Volume of Container Ships Carrying Goods to the US - As of September 15, the shipping volume of container ships carrying goods from China to the US reached 444,000 TEU, a week - on - week decrease of 8%, and the number was 54, a week - on - week decrease of 1.8%. The shipping volume of container ships carrying goods from Vietnam to the US rebounded last week, reaching 130,000 TEU, a week - on - week increase of 44% [4] Arrival Volume at US Ports - In the 37th week, the weekly arrival volume of imported goods at US ports was 531,000 TEU, a week - on - week decrease of 20%. The weekly arrival volume of imported goods from China was 189,000 TEU, a week - on - week decrease of 24.6%, and the arrival volume from Vietnam was 68,000 TEU, a week - on - week decrease of 14.9%. This week, the weekly arrival volume of imported goods at US ports was 486,000 TEU, a week - on - week decrease of 8.4%. The weekly arrival volume of imported goods from China was 170,000 TEU, a week - on - week decrease of 10.5%, and the arrival volume from Vietnam was 61,000 TEU, a week - on - week decrease of 9.9% [5] Domestic Port Throughput - In the week of September 14, the container throughput of domestic ports increased by 0.1% week - on - week and 13.5% year - on - year, reaching 665.2 million TEU [5] Vizion Booking Data - From August 18 - 25, the total US bookings were 336,000 TEU, a week - on - week decrease of 5.2% and a year - on - year decrease of 17.2%. From August 18 - 25, the US bookings from China were 122,000 TEU, a week - on - week decrease of 3.2% and a year - on - year decrease of 30%. In the first three weeks of August, the average weekly total US bookings were 355,000 TEU, a month - on - month decrease of 7.1% compared to July. The average weekly US bookings from China were 124,000 TEU, a month - on - month decrease of 9.6% compared to July [5]

Group 1: Report Information - Report Title: "【中信期货航运】出口至美国货量企稳,沿海港口集装箱吞吐量震荡运行 -- 数据报告20250909" [1] - Report Date: September 9, 2025 [1] Group 2: High - frequency Capacity - In Week 38 (September 14 - 21 planned capacity), the capacity of the US - West route rebounded to 386,000 TEU, a year - on - year increase of 48% and a month - on - month increase of 25.5%. The capacity of the US - East route was 210,000 TEU, a year - on - year increase of 19% and a month - on - month increase of 23.6% [3] - The capacity of the China - Southeast Asia route remained at a high level, with a year - on - year positive growth of 71.6% and a month - on - month decline of 9% (the decline widened). In Week 37, the capacity of the China - North Europe route increased slightly month - on - month, reaching 349,000 TEU, a month - on - month increase of 3.1% and a year - on - year increase of 60.2%. The capacity of the Mediterranean route increased by 18.6% year - on - year and decreased by 3.5% month - on - month [3] Group 3: Container Volume of Cargo - Laden Containers Sent to the US - As of September 7, the container volume of cargo - laden container ships from China to the US reached 454,000 TEU, a 0.8% decline from the previous week, and the number of ships was 52, the same as the previous week. The container volume of cargo - laden containers from Vietnam to the US dropped to 96,000 TEU, a 45% decline from the previous week [3] Group 4: US Port Arrival Volume Data - In Week 35, the weekly arrival volume of imported goods in the US was 665,000 TEU, a 13.7% increase from the previous week. The weekly arrival volume of imported goods from China was 250,000 TEU, a 17.7% increase from the previous week. The weekly arrival volume from Vietnam was 80,000 TEU, a 4.7% increase from the previous week, reaching a new high [4] - In Week 36, the weekly arrival volume of imported goods in the US was 439,000 TEU, a 34% decline from the previous week. The weekly arrival volume of imported goods from China was 162,000 TEU, a 35.2% decline from the previous week. The weekly arrival volume from Vietnam was 56,000 TEU, a 30.4% decline from the previous week [4] Group 5: Domestic Port Throughput - In the week of September 7, the container throughput of Chinese ports increased by 0.9% month - on - month and 6.5% year - on - year, reaching 6646,000 TEU [4] Group 6: Vizion Booking Data - From August 18 - 25, the total bookings in the US were 336,000 TEU, a 5.2% decline from the previous week and a 17.2% decline from the same period last year. The bookings from China in the US were 122,000 TEU, a 3.2% decline from the previous week and a 30% decline from the same period last year [4] - In the first three weeks of August, the average weekly total bookings in the US were 355,000 TEU, a 7.1% decline from July. The average weekly bookings of imports from China in the US were 124,000 TEU, a 9.6% decline from July [4]