Report Summary Investment Rating No investment rating for the industry is provided in the report. Core Viewpoint Due to geopolitical conflicts and tariff uncertainties, the shipping market has high trading risks and large fluctuations. It is recommended to participate with light positions or stay on the sidelines. Short - term rebounds are possible, and long - term positions should be taken profit when prices rise and wait for the market to stabilize before making further decisions [2][5]. Detailed Summaries Market Price Index - On August 4, the Shanghai Export Container Settlement Freight Index (SCFIS) for the European route was 2297.86 points, down 0.8% from the previous period, and 1130.12 points for the US West route, down 12.0% [3]. - On August 1, the Ningbo Export Container Freight Index (NCFI) for the comprehensive index was 1087.66 points, down 2.06% from the previous period, 1372.67 points for the European route, down 3.53%, and 1114.45 points for the US West route, down 0.54% [3]. - On August 1, the Shanghai Export Container Freight Index (SCFI) announced price was 1550.74 points, down 41.85 points from the previous period, the European line price was 2051 USD/TEU, down 1.86%, and the US West route was 2021 USD/FEU, down 2.23% [3]. - On August 1, the China Export Container Freight Index (CCFI) for the comprehensive index was 1232.29 points, down 2.3% from the previous period, 1789.50 points for the European route, up 0.1%, and 876.57 points for the US West route, down 0.5% [3]. Economic Data - The eurozone's July manufacturing PMI preliminary value was 49.8, higher than the expected 49.7, and the service PMI preliminary value was 51.2, higher than the expected 50.7. The composite PMI preliminary value was 51, higher than the expected 50.8. The SENTIX investor confidence index jumped to 4.5 [3]. - China's July manufacturing PMI was 49.3%, 0.4 percentage points lower than the previous month [4]. - The US July S&P Global manufacturing PMI preliminary value was 49.5, lower than the expected 52.7, and the service PMI preliminary value was 55.2, higher than the expected 53. The composite PMI preliminary value was 54.6, a new high since December 2024 [4]. Policy and Geopolitical Factors - Trump continued to impose tariffs on multiple countries, mainly in Southeast Asia, and postponed the tariff negotiation date to August 1. Some shipping companies announced price increases, and the spot market had a small price increase to test the market [5]. - On August 5, the Houthi armed forces attacked Israel's Ben - Gurion International Airport [5]. - Germany's Deputy Prime Minister called on the EU to take a tougher stance in trade negotiations with the US [6]. Trading Strategies - Short - term: For risk - takers, those who have taken long positions in the 2510 contract below 1300 can take partial profits, and those who have short positions in the EC2512 contract can take profits. Set stop - losses and avoid holding losing positions [5]. - Arbitrage: Due to international instability, it is recommended to stay on the sidelines or take light positions [5]. - Long - term: Take profits when prices rise and wait for the market to stabilize before making further decisions [5]. Market Conditions of Main Contracts - On August 5, the main contract 2510 closed at 1413.0, up 0.63%, with a trading volume of 3.06 million lots and an open interest of 5.21 million lots, an increase of 1055 lots from the previous day [5]. Contract Adjustments - For contracts from 2508 to 2606, the daily limit is adjusted to 18%, the margin is adjusted to 28%, and the daily opening limit is 100 lots [5].