Group 1 - The core point of the article is that the main contract for the European shipping futures has seen an intraday increase of 3% on August 6 [1]

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core Viewpoints of the Report - Tuesday's sharp rise in the main European line futures was mainly influenced by spot quotes. The high opening of quotes in late August indicates that the peak season may last until late August or later, breaking the previous market expectation that July would be the peak for airline quotes. The market has adjusted the price difference between the 10 and 08 contracts, and the 12 - contract has also risen significantly due to the traditional peak - season factor [3]. - The current futures price trend is mainly affected by spot quotes. If other airlines follow the high - opening quotes, the main contract will continue to rise; if the quotes in August are conservative, the market may turn into a volatile trend. It is recommended that investors considering long positions prioritize the 12 - contract [11]. 3) Summary by Relevant Sections Market Overview - On Tuesday, the EC2510 main contract opened higher at 1454 points, showed a volatile upward trend. Although the intraday gain narrowed, it further rose in the late session, with a nearly 18% intraday increase and a closing price of 1655.6 points, up 15.38% [2]. Trading Logic - The significant rise in the main European line futures on Tuesday, with the 10 - contract rising by over 15%, was mainly due to spot quotes. The CMA's online quotes for large containers in late August increased by nearly $1000 compared to the first half of August, indicating a potential delay in the peak - season rhythm this year compared to last year. The price difference between the 10 and 08 contracts was adjusted, and the 12 - contract also rose significantly [3]. Fundamental Analysis - **Quotes**: As of July 16, Maersk's quotes were $1780 - 1982/TEU and $2960 - 3262/TEU, slightly up from before; CMA's quotes were $2035 - 3135/TEU and $3645 - 5345/TEU. The quotes of other airlines were relatively stable [5][7]. - **Supply and Demand**: As of July 15, the global container total capacity was 32.7 million TEU, an 8.2% increase year - on - year. In June, the eurozone's composite PMI was 50.2, manufacturing PMI was 49.4, and service PMI was 50.0; the US manufacturing PMI was 49, and the new order index was 46.4. The OECD leading index for the G7 group in June was 100.40 [7]. Outlook - The current futures price is mainly affected by spot quotes. Since the 10 - contract has become the main contract and the quotes are still in the July - August peak - season range, the futures will be affected by the upward sentiment of quotes. If other airlines follow the high - opening quotes, the main contract will continue to rise; if the quotes in August are conservative, the market may turn volatile. Due to the 12 - contract being a peak - season contract, investors considering long positions can prioritize it [11].

Group 1 - The main contract for European shipping index has experienced a short-term decline, currently reported at 1663.6 points, with the increase narrowing to 5.55% after previously rising over 9% [1]

Group 1 - The main futures contract for European shipping lines surged over 5%, reaching 2119.8 points [1]

Core Viewpoint - The main futures contract for the European shipping index has seen a significant intraday decline, with a drop of up to 6% [1] Group 1 - The European shipping index futures are experiencing increased volatility, indicating potential market instability [1] - The decline in the futures contract may reflect broader trends in the shipping industry, possibly influenced by supply chain disruptions or changes in demand [1] - Investors should monitor the situation closely as further fluctuations could impact shipping companies' performance and profitability [1]

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core View - The European container shipping line (EC) opened low and fluctuated, with the 06 contract closing at 1704.7 points, down 6.57%. Most shipping companies' freight rates in the first half of April continued the quotes at the end of March, with a slight increase in the second half. The freight rates in April tend to stabilize, and the average price of a 40 - foot container in the 16th week was around $2300. Some shipping companies have announced their online quotes for May, with the quotes for 40 - foot containers ranging from $2337 to $4545. The weekly average capacity put into service by shipping companies in May exceeds 300,000 TEU, and the rate - increase efforts of each shipping company vary. The market had expectations for the upcoming traditional peak season in the second quarter, but under the uncertainty of high tariffs, shipping companies may start a price - cut game to preserve more profits rather than betting on the peak - season demand, and the expected peak - season node may be postponed or the expected difference may drop to zero. Trump's latest tariff policy "U - turn" announced a 90 - day delay in equivalent tariffs for most countries, which may lead to short - term emotional repair. Attention should be paid to the shipping companies' subsequent capacity regulation and the progress of rate increases in May [1] 3. Summary by Relevant Catalogs 3.1 EC Contract Volume and Price | Contract | Latest Transaction Price (Points) | Latest Increase/Decrease (%) | Trading Volume | Open Interest (Unilateral) | Long - Position Holdings (Top 20 Members) | Short - Position Holdings (Top 20 Members) | Net Long Position (Top 20 Members) | | --- | --- | --- | --- | --- | --- | --- | --- | | EC2504 | 1491 | - 1.37 | 556 | 1509 | 1123 | 1264 | - 141 | | EC2506 | 1704.7 | - 6.57 | 86722 | 34705 | 20734 | 19291 | 1443 | | EC2508 | 1703.2 | - 8.18 | 34648 | 28839 | 0 | 0 | 0 | | EC2510 | 1275.8 | - 3.44 | 18080 | 16196 | - | - | - | | EC2512 | 1455.2 | - 4.13 | 3509 | 3554 | - | - | - | | EC2602 | 1295.8 | - 4.05 | 2938 | 2752 | - | - | - | | Total | - | - | 146453 | 87555 | 21857 | 20555 | 1302 | [1] 3.2 Latest Spot Freight Rates - European Routes | Index | Latest Period | Month - on - Month Increase/Decrease | Previous Period | Month - on - Month Increase/Decrease | Two Periods Ago | Month - on - Month Increase/Decrease | | --- | --- | --- | --- | --- | --- | --- | | Spot Index (Weekly) - SCFIS (Points) | 1422.42 | - 3.5% | 1473.56 | - 2.2% | 1506.17 | - 6.5% | | SCFI ($/TEU) | 1336 | 1.4% | 1318 | 0.9% | 1306 | - 2.7% | | Spot Freight Rates (Daily) - TCI (20GP) ($/TEU) | 1660 | 0.0% | 1660 | 0.0% | 1660 | 3.7% | | Spot Freight Rates (Daily) - TCI (40GP) ($/FEU) | 2737 | 0.0% | 2737 | 0.0% | 2737 | 8.7% | | Basis Spread (Points) | - | - | - | - | - | 62.3 | [1] 3.3 Spot Market Data - **Capacity and Utilization**: The capacity put into service on the Asia - Europe route is 489,797 TEU, a decrease of 1153 TEU. The idle capacity ratio is 2.4%. For different types of container ships (17000TEU +, 12000 - 16999TEU, 8000 - 11999TEU), the idle capacity ratios are 3.2%, 0.6%, and 2.7% respectively [4] - **Average Speed**: The average speed of container ships is 13.95 knots. The speeds of 17000TEU + and 12000 - 16999TEU container ships are 15.7 and 15.3 knots respectively [4] - **Capacity at Port**: The capacity at Rotterdam Port is 229,100 TEU, at Hamburg Port is 98,200 TEU, and at Singapore Port is 335,300 TEU [4] - **Route - Bypass Situation**: The number of ships passing through the Gulf of Aden is 8, the north - bound traffic volume through the Suez Canal is 2, and the south - bound traffic volume is 1 [4] - **Charter Rates**: The 6 - 12 - month time - charter rates for 9000TEU, 6500TEU, and 2500TEU container ships are $106,000, $73,500, and $33,750 per day respectively [4]