Report Information - Report Title: Container Shipping Index Daily Report [1] - Date: August 14, 2025 [2] - Research Team: Macro Financial Team [4] - Researchers: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] Industry Investment Rating - Not provided in the report Core Viewpoints - The peak of the shipping season has likely passed, and the SCFIS has further declined this week with an increased rate of decline. Spot freight rates have likely reached their peak and are expected to enter a downward trend in August. The主力10 contract has a deep discount, and the market may engage in a game regarding the rate and magnitude of price cuts. It is recommended to take short positions on the 10 contract when the price rises [8]. Summary by Section 1. Market Review and Operation Suggestions - Spot Market: The peak of the shipping season has likely passed, and the SCFIS has further declined this week with an increased rate of decline. Shipping companies have lowered their August quotes, and the freight rates are expected to enter a downward trend in August. The demand side is unlikely to improve significantly, and the supply of shipping capacity is relatively high during the off - season. The freight rates this year may be even lower during the off - season. It is recommended to take short positions on the 10 contract when the price rises [8]. 2. Industry News - Market Conditions: From August 4th to 8th, the China export container shipping market was basically stable, but the transport demand lacked growth momentum. The freight rates of most routes continued to decline, dragging down the composite index. In July, China's exports increased by 7.2% year - on - year, and the improvement in exports to Europe was the main driving force for the rebound in exports [9]. - Geopolitical Tensions: The threat from the Houthi armed forces to global shipping has escalated again, and the international shipping safety situation has continued to deteriorate. If the conflict worsens significantly, it may boost futures prices in the short term [10]. - Trade Policy: The US will maintain a 25% tariff on Japanese goods and may soon reach a trade agreement with India [10]. 3. Data Overview 3.1 Container Shipping Spot Prices - Shanghai Export Container Settlement Freight Index: The SCFIS for the European route decreased by 2.7% from August 4th to 11th, and the SCFIS for the US West route decreased by 4.2% [12]. 3.2 Container Shipping Index (European Line) Futures Market - Not elaborated in detail in the text, only mentioned the trading data of container shipping European line futures on August 13th, including opening price, closing price, settlement price, etc. for different contracts [6]. 3.3 Shipping - Related Data Charts - The report provides charts on the Shanghai Export Container Settlement Freight Index, global container shipping capacity, global container ship orders, Shanghai - Europe basic port freight rates, and Shanghai - Rotterdam spot freight rates, but does not provide detailed data analysis [12][16][19]

行业 集运指数日报 日期 2025 年 6 月 27 日 研究员：何卓乔(宏观贵金属) 18665641296 hezhuoqiao@ccb.ccbfutures.com 期货从业资格号：F3008762 研究员：黄雯昕(国债集运) 021-60635739 huangwenxin@ccb.ccbfutures.com 期货从业资格号：F3051589 研究员：聂嘉怡(股指) 021-60635735 niejiayi@ccb.ccbfutures.com 期货从业资格号：F03124070 宏观金融团队 请阅读正文后的声明 ＃summary＃ 每日报告 请阅读正文后的声明 - 2 - | | | 表1：集运欧线期货6月26日交易数据汇总 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 合约 | 前结算 价 | 开盘价 | 收盘价 | 结算价 | 涨跌 | 涨跌幅 （%） | 成交量 | 持仓量 | 仓差 | | EC2506 | 1,887.1 | 1,885.0 | 1,885.9 | 1,88 ...