1. Report's Investment Rating for the Industry - No investment rating information is provided in the report. 2. Core Viewpoints of the Report - The EC of the container shipping European route fell 1.43% last Friday. The joint strike on Iran by the US and Israel and the Houthi's decision to resume attacks on shipping routes in the Red Sea and Israel have affected the resumption progress and expectations of shipping companies. Shipping companies that previously announced their return to the Suez Canal have cancelled their decisions. The possibility of full resumption during the peak season from June to August this year has further decreased, and the plan for a phased and large - scale return to the Red Sea in 2026 will be further postponed. The short - term market is expected to be dominated by event - based gaming, with an emotional rebound, especially in far - month contracts [1]. 3. Summary by Relevant Catalogs EC Contract Volume and Price - EC2604: The latest成交价 is 1224.4 points, with a decline of 1.43%. The trading volume is 32063 (a change of 3238 from the previous period), and the open interest on one side is 37245 (a change of 1071 from the previous period). The net long position of the top 20 members is - 5638 [2]. - EC2606: The latest成交价 is 1629.6 points, with a decline of 0.23%. The trading volume is 4540 (a decrease of 1314 from the previous period), and the open interest on one side is 17087 (an increase of 438 from the previous period) [2]. - EC2608: The latest成交价 is 1715.8 points, with a decline of 0.64%. The trading volume is 301 (a decrease of 83 from the previous period), and the open interest on one side is 1379 (a decrease of 2 from the previous period) [2]. - EC2610: The latest成交价 is 1161 points, with an increase of 0.01%. The trading volume is 2305 (an increase of 796 from the previous period), and the open interest on one side is 10914 (an increase of 600 from the previous period) [2]. - EC2612: The latest成交价 is 1445 points, with an increase of 0.89%. The trading volume is 14 (a decrease of 5 from the previous period), and the open interest on one side is 137 (an increase of 3 from the previous period) [2]. - Total: The total trading volume is 39223, and the total open interest on one side is 66762. The long position of the top 20 members is 20361, the short position is 25999, and the net long position is - 5638 [2]. Latest Spot Freight Rates - European Routes - SCFIS (weekly): The latest value is 1573.51 points, with a decline of 2.1%. The previous value was 1607.27 points, with a decline of 3.1%, and the value before that was 1657.94 points, with a decline of 7.5% [4]. - SCFI ($/TEU): The latest value is 1420, with an increase of 4.3%. The previous value was 1361, with a decline of 3.0%, and the value before that was 1403, with a decline of 1.1% [4]. - TCI (20GP) spot freight rate ($/TEU): The latest value is 1490, with an increase of 0.4%. The previous value was 1484, with no change, and the value before that was 1484, with a decline of 2.2% [4]. - TCI (40GP) ($/FEU, daily): The latest value is 2541, with an increase of 0.4%. The previous value was 2530, with no change, and the value before that was 2530, with a decline of 0.9% [4]. Basis Spread (Points) - The basis spread on the previous trading day was 349.11 points, and the basis spread on the trading day before that was 337.51 points, with a change of 11.6 points [6].