Group 1: Report Overview - Report Title: Shipping Derivatives Data Daily Report [3] - Date: August 4, 2025 [4] - Author: Lu Zhaoyi from the Energy and Chemical Research Center of Guomao Futures Research Institute [4] - Data Sources: Clarksons, Wind [4] Group 2: Industry Investment Rating - No industry investment rating information is provided in the report. Group 3: Core Viewpoints - The market for shipping derivatives is in a state of shock. Spot prices started to weaken in early August, leading to a synchronous decline in late August. The peak of spot prices is showing signs, and it is expected that the freight rates of scheduled cargo will peak at the end of July and early August, then gradually decline until late August when the decline slope will intensify. The main focus of the 10 - contract game is the decline slope of freight rates from August to October. The recommended strategy is to short the 10 - contract on rallies (take profit as it has corrected significantly recently) and hold the 12 - 4 calendar spread [6][7]. Group 4: Shipping Index Analysis Freight Rate Index - **Shanghai Export Container Freight Index (SCFI)**: The current value is 1551, down 2.63% from the previous value of 1593 [4]. - **China Export Container Freight Index (CCFI)**: The current value is 1233, down 2.27% from the previous value of 1261 [4]. - **SCFI - US West**: The current value is 2021, down 2.23% from the previous value of 2067 [4]. - **SCFIS - US West**: The current value is 1284, down 1.31% from the previous value of 1301 [4]. - **SCFI - US East**: The current value is 3126, down 7.46% from the previous value of 3378 [4]. - **SCFI - Northwest Europe**: The current value is 2051, down 1.87% from the previous value of 2090 [4]. - **SCFIS - Northwest Europe**: The current value is 2316, down 3.50% from the previous value of 2400 [4]. - **SCFI - Mediterranean**: The current value is 2333, down 3.52% from the previous value of 2418 [4]. EC Contracts Price - **EC2506**: The current value is 1465.1, up 0.18% from the previous value of 1462.5 [4]. - **EC2508**: The current value is 2126.5, up 0.23% from the previous value of 2121.6 [4]. - **EC2510**: The current value is 1424.0, down 0.08% from the previous value of 1425.1 [4]. - **EC2512**: The current value is 1692.4, up 0.01% from the previous value of 1692.3 [4]. - **EC5602**: The current value is 1490.0, up 0.36% from the previous value of 1484.7 [4]. - **EC2604**: The current value is 1325.0, up 0.07% from the previous value of 1324.1 [4]. Position - **EC2606 Position**: The current value is 795, down 13 from the previous value of 808 [4]. - **EC2508 Position**: The current value is 4465, down 408 from the previous value of 4873 [4]. - **EC2410 Position**: The current value is 52376, up 558 from the previous value of 51818 [4]. - **EC2412 Position**: The current value is 8440, down 20 from the previous value of 8460 [4]. - **EC2602 Position**: The current value is 4142, down 82 from the previous value of 4224 [4]. - **EC2604 Position**: The current value is 5112, up 29 from the previous value of 5083 [4]. Calendar Spread - **10 - 12 Spread**: The current value is - 268.4, down 1.2 from the previous value of - 267.2 [4]. - **12 - 2 Spread**: The current value is 202.4, down 5.2 from the previous value of 207.6 [4]. - **12 - 4 Spread**: The current value is 367.4, down 0.8 from the previous value of 368.2 [4]. Group 5: Spot Market Analysis - **GEMINI**: Maersk's wk33 opening price increased from 2800 to 2900, while HPL's price dropped to 3150 in early August [6]. - **04**: The average quoted price in early August was 3300, with CMA at 3450, EMC at 3500, and OCCL at 3250 [6]. - **PA**: Due to a large open position, the price continued to drop to 3100 and is likely to be further adjusted downwards. ONE's price is 3150, and HMM's is 3100 [6]. - **MSC**: The quoted price in early August was 3350 [6]. Group 6: Strategy Recommendations - Short the 10 - contract on rallies (take profit as it has corrected significantly recently) and hold the 12 - 4 calendar spread [7].