FICC日报 | 2026-03-06 中东线船舶调至欧线，3月下半月运价逐步修正 市场分析 线上报价方面。 Gemini Cooperation：马士基上海-鹿特丹WEEK11周价格1195/1910，WEEK12周报价1400/2240；HPL3月下半月 船期报价2685/4535，4月份上半月船期报价2985/5035. MSC+Premier Alliance：MSC 3月份上半月船期报价1580/2640，3月下半月船期报价1640/2740；ONE 3月上半月 船期报价1420/2235，3月下半月1750/2735，4月份船期价格1753/2741；HMM 上海-鹿特丹 3月份上半月船期报价 1333/2236。 Ocean Alliance：CMA 上海-鹿特丹3月份上半月船期报价1459/2493，3月份下半月船期报价3059/5293；EMC 3月 下半月船期报价2615/4030；OOCL 3月份下半月船期报价2280/4030. 地缘端：美国总统特朗普表示，在伊朗冲突平息之后，美国将把注意力转向古巴。"古巴的情况令人惊叹，我们希 望能够解决这个问题，"特朗普说道。"先解决伊朗再说吧。" ...

市场分析 线上报价方面。 Gemini Cooperation：马士基上海-鹿特丹WEEK11报价1230/1960、WEEK12周价格1175/1870；HPL3月份上半月 船期报价1335/2235 ，3月下半月船期报价1935/3135. FICC日报 | 2026-03-03 MSC再度尝试提高3月下半月价格，关注马士基3月下半月第 一周开价 地缘端：初步报告显示，沙特利雅得的外交区发生爆炸，附近美国大使馆也传出爆炸声。 静态供给：交付现状层面，截至2026年2月28日。2026年至今交付集装箱船舶27艘，合计交付运力174232TEU。 12000-16999TEU船舶合计交付6艘，合计8.6万TEU；17000+TEU以上船舶交付1艘，合计17148TEU。交付预期层 面，12000-16999TEU船舶：2026年剩余月份交付67.9万TEU（46艘），2027年交付94.46万TEU（64艘），2028年交 付122.4万TEU（84艘），2029年交付41.54万TEU（29艘）。 17000+TEU船舶： 2026年剩余月份交付19.29万TEU（8艘），2027年交付86.28万TEU（ ...

FICC日报 | 2026-02-27 PA联盟3月上半月运价修正，关注近期4月份涨价函是否发出 市场分析 线上报价方面。 Gemini Cooperation：马士基上海-鹿特丹WEEK11报价1230/1960、WEEK12周价格1155/1830；HPL3月份上半月 船期报价1335/2235 ，3月下半月船期报价1935/3135. 静态供给：截至2026年1月31日。2026年至今交付集装箱船舶6艘，合计交付运力46950TEU。12000-16999TEU船舶 合计交付2艘，合计2.8万TEU；17000+TEU以上船舶交付1艘，合计17148TEU。交付预期层面，12000-16999TEU 船舶：2026年剩余月份交付73.74万TEU（50艘），2027年交付94.46万TEU（64艘），2028年交付121.2万TEU（82 艘），2029年交付41.54万TEU（29艘）。 17000+TEU船舶： 2026年剩余月份交付19.29万TEU（8艘），2027年交付86.28万TEU（40艘），2028年交付160.3 万TEU（80艘）,2029年交付126.15万TEU（77艘）.总体 ...

FICC日报 | 2026-02-26 马士基3月第二周价格下调，关注其他船司3月份价格跟随情 Gemini Cooperation：马士基上海-鹿特丹WEEK11报价1210/1920、WEEK12周价格1150/1820；HPL3月份上半月 船期报价1535/2535 ，3月下半月船期报价1935/3135. MSC+Premier Alliance：MSC 3月份上半月船期报价1400/2340；ONE 3月上半月船期报价1940/3035，3月下半月 1940/3035；HMM 上海-鹿特丹 3月份上半月船期报价1783/3136。 Ocean Alliance：CMA 上海-鹿特丹3月份上半月船期报价1459/2593，3月份下半月船期报价2359/3193；EMC 3月 上半月船期报价1665/2530；OOCL 3月份上半月船期报价介于2380-2430. 地缘端：据以色列时报，监测开源飞行追踪数据的分析人士称，美军已开始向中东调动另外六架F-22隐形战斗机， 预计这六架F-22将部署在以色列空军一处基地，昨日已有另外11架F-22战机在那里降落。这六架F-22当天早些时 候从美国起飞，与随行加 ...

Market Analysis - The shipping rates for various routes have shown fluctuations, with Maersk's Shanghai-Rotterdam WEEK 11 quote at $1210/$1920, and the Shanghai-London basic port quote rising to $1320/$2100 [12][12] - MSC's quotes for March include $1400/$2340 for the first half and $1940/$3035 for the second half, while HMM's quote for Shanghai-Rotterdam is $1783/$3136 [12][12] - The Ocean Alliance's CMA has a quote of $1459/$2593 for the first half of March and $2159/$2793 for the second half [12][12] Supply Dynamics - As of January 31, 2026, six container ships have been delivered, totaling a capacity of 46,950 TEU, with future deliveries expected to be 737,400 TEU in 2026, 944,600 TEU in 2027, and 1,212,000 TEU in 2028 for 12,000-16,999 TEU vessels [13][14] - For vessels over 17,000 TEU, 192,900 TEU are expected to be delivered in the remaining months of 2026, with 862,800 TEU in 2027 and 1,603,000 TEU in 2028 [14][14] Pricing Trends - A price increase notice is expected to be issued soon, with March and April typically being low months for shipping rates. The cancellation of VAT export rebates for solar products may disrupt shipping pricing strategies [15][15] - MSC's latest March rate is $1400/$2340, with Maersk's Rotterdam price remaining at $1900/FEU and London price increasing by $200 to $2100/FEU [15][15] Future Outlook - The market anticipates strong price increase expectations as it enters the peak season, with ongoing negotiations regarding the reopening of the Suez Canal and the Red Sea [16][17] - The delivery pressure for ultra-large vessels in the first half of 2026 is expected to be manageable, with only four vessels over 17,000 TEU scheduled for delivery [17][17] - Historical data suggests that the highest shipping rates typically occur in July, with expectations for 2023-2025 indicating July as the peak month [17][17] Contract and Trading Strategies - The futures market shows a total open interest of 61,202 contracts, with daily transactions of 63,374 contracts. The closing prices for various contracts indicate a mixed market sentiment [18][18] - Suggested trading strategies include long positions on EC2606 and short positions on EC2610, as well as long positions on EC2607 and short positions on EC2610 [18][18]

1. Report Industry Investment Rating No information regarding the report industry investment rating is provided in the given content. 2. Core View of the Report - The pre - holiday freight rate drive is weak, and the near - term 04 contract is expected to fluctuate. Attention should be paid to whether the shipping companies' price - holding measures are implemented after the holiday. The cancellation of VAT export tax rebates for products such as photovoltaics may disrupt the shipping rhythm and the pricing strategies of shipping companies. It is necessary to monitor whether the freight volume from the Far East to Europe in February and March can increase significantly and whether the actual freight rate will be firmer than in normal years. The 04 contract's volatility is expected to increase, and investors are advised to participate with caution. Shipping companies usually issue price - increase letters in March and April to stabilize prices. As of now, it is still unclear whether the price increase in March will succeed. If the price increase is successful in early March, the valuation bottom of the EC2604 contract may rise. The long - term contracts face intense speculation on the resumption time, and the volatility is expected to remain high. The resumption of the Suez Canal is expected to be a gradual process. If it does not resume in the first half of 2026, the pressure on the shipping capacity in the first half of the year will be relatively controllable, and higher freight rates can be expected. Investors can consider the arbitrage opportunity of going long on EC2606 and short on EC2610 [5][6][7]. 3. Summary by Relevant Catalogs I. Futures Prices - As of February 12, 2026, the total open interest of all container shipping index European line futures contracts is 54,481.00 lots, and the daily trading volume is 42,518.00 lots. The closing prices of EC2604, EC2606, EC2608, EC2610, and EC2512 contracts are 1258.90, 1566.10, 1632.00, 1131.10, and 1425.40 respectively [8]. II. Spot Prices - On February 6, the SCFI (Shanghai - Europe route) price was 1403 US dollars/TEU, the SCFI (Shanghai - West Coast of the United States) price was 1801 US dollars/FEU, and the SCFI (Shanghai - East Coast of the United States) price was 2530 US dollars/FEU. On February 9, the SCFIS (Shanghai - Europe) was 1657.94 points, and the SCFIS (Shanghai - West Coast of the United States) was 1155.66 points [8]. III. Container Ship Capacity Supply - **Static Supply**: As of January 31, 2026, 6 container ships with a total capacity of 46,950 TEU have been delivered in 2026. Among them, 2 ships with a capacity of 12,000 - 16,999 TEU and 1 ship with a capacity of over 17,000 TEU have been delivered. In terms of delivery expectations, for ships with a capacity of 12,000 - 16,999 TEU, 737,400 TEU (50 ships) are expected to be delivered in the remaining months of 2026, 944,600 TEU (64 ships) in 2027, 1,212,000 TEU (82 ships) in 2028, and 415,400 TEU (29 ships) in 2029. For ships with a capacity of over 17,000 TEU, 192,900 TEU (8 ships) are expected to be delivered in the remaining months of 2026, 862,800 TEU (40 ships) in 2027, 1,603,000 TEU (80 ships) in 2028, and 1,261,500 TEU (77 ships) in 2029. The delivery pressure of ultra - large ships in 2026 is relatively small, and only 4 ships with a capacity of over 17,000 TEU will be delivered in the first half of 2026 [3]. - **Dynamic Supply**: In the remaining three weeks of February, the average weekly capacity is 271,600 TEU, with capacities of 366,600 TEU, 259,800 TEU, and 188,300 TEU in Weeks 7, 8, and 9 respectively. In March, the average weekly capacity is 288,400 TEU, with capacities of 158,300 TEU, 365,200 TEU, 304,700 TEU, 320,400 TEU, and 293,500 TEU in Weeks 10 - 14 respectively. In April, the average weekly capacity is 274,700 TEU, with capacities of 295,500 TEU, 294,400 TEU, 263,500 TEU, and 245,400 TEU in Weeks 15 - 18 respectively. There are 13 blank sailings in February (6 by the OA Alliance, 6 by the PA Alliance, and 1 by the Gemini Alliance), 7 blank sailings and 3 TBNs in March, and 1 blank sailing and 4 TBNs in April [4]. IV. Supply Chain - The resumption of the Suez Canal is expected to be a gradual process. COSCO management indicates that there is still no clear schedule for the full resumption of the Red Sea route. It may take 3 - 5 months from the attempt to full resumption. Multiple conditions need to be met for the resumption of the Red Sea route, including industry association assessment, insurance premium reduction, customer recognition of safety, and internal consensus within the alliance. Currently, the detour has become the new normal for the customer supply chain, and COSCO is cautious about returning to the Red Sea. Since mid - February 2026, Maersk's ME11 route will be structurally adjusted to transit through the Red Sea and the Suez Canal. If possible, Maersk will also adjust the AE12 and AE15 services in the subsequent stage to pass through the Red Sea and the Suez Canal [7]. V. Demand and European Economy No specific content related to demand and European economy is provided in the given text other than the figures mentioned in the catalog.

FICC日报 | 2026-02-11 3月份涨价能否成功尚不明，主力合约短期走势震荡 市场分析 线上报价方面。 Gemini Cooperation：马士基上海-鹿特丹 WEEK7报价1270/2040，WEEK8 报价1210/1920，WEEK9报价 1200/1900，WEEK11报价1200/1900（其中上海-伦敦基本港WEEK11周报价涨至1320/2100）；HPL 2月上半月船期 报价1135/1835，2月下半月船期报价1135/1835，3月份船期报价1835/2935 。HPL发布3月份涨价函1900/3100 MSC+Premier Alliance：MSC 2月上半月价格1280/2140，2月下半月船期价格1280/2140；ONE 2月上半月船期报 价1290/2035，2月下半月船期报价1290/2035，3月上半月船期报价1620/2535；HMM上海-鹿特丹2月上半月船期报 价1233/2036，2月下半月船期1233/2036 ，3月份船期报价1783/3136.MSC发布3月份涨价函1800/3000. Ocean Alliance：CMA 上海-鹿特丹2月份上半月船 ...

FICC日报 | 2026-01-21 静态供给：交付现状层面，截至2025年12月31日。2025年至今交付集装箱船舶268艘，合计交付运力215.5万TEU。 12000-16999TEU船舶合计交付80艘，合计121.3万TEU；17000+TEU以上船舶交付13艘，合计277672TEU。交付预 期层面，12000-16999TEU船舶：2026年交付78.12万TEU（53艘），2027年交付94.45万TEU（64艘），2028年交付121.2 万TEU（82艘），2029年交付41.54万TEU（29艘）。 17000+TEU船舶： 2026年交付21.04万TEU（9艘），2027年交付86.28万TEU（40艘），2028年交付157.34万TEU（78 艘）,2029年交付137.55万TEU（67艘）。总体来看，2026年超大型船舶交付压力相对较小，2027年、2028年以及2029 年17000+TEU船舶年度交付量均超过40艘。2026年上半年交付17000+TEU以上船舶仅4艘。 动态供给：1月份月度剩余2周均运力34.22万TEU，WEEK4/5周运力分别为40.86/27.58 ...

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 来源：华泰期货 作者： 高聪 市场分析 线上报价方面。 Gemini Cooperation：马士基上海-鹿特丹WEEK4价格1695/2730，WEEK5价格1510/2420；HPL 1月下半 月船期报价1585/2535，2月上半月船期报价1585/2535． MSC+Premier Alliance：MSC 1月下半月船期报价1580/2640；ONE 1月下半月船期报价1680/2635，2月 上半月船期报价1680/2635；HMM上海-鹿特丹1月下半月船期报价1433/2436． Ocean Alliance：CMA 上海-鹿特丹1月下半月船期报价1859/3293，2月份船期价格1859/3293；EMC1月 下半月船期报价3030-3130美元/FEU；OOCL 1月上半月份船期报价2580-2630美元/FEU。 地缘端：丹麦航运巨头马士基（Maersk）当地时间周四表示，在该地区安全形势趋于稳定后，将恢复通 过红海和苏伊士运河的航行，但仍将密切关注中东地区的安全局势。这标志着在也门胡塞武装袭击船只 导致全球海运贸易持续两年 ...

每经AI快讯，12月22日，集运指数欧线期货连续主力合约日内涨9%，现报1877.50元。 （文章来源：每日经济新闻） ...