Report Summary 1. Investment Rating - No investment rating for the industry is provided in the report. 2. Core Viewpoints - The pre - holiday sentiment is cautious, with the market fluctuating. After suggesting taking profits, short - term investors are advised to wait and see. The tariff issue has a marginal effect, and the current focus is on the direction of spot freight rates. The main contract has shown a seasonal rebound, and it is recommended to participate with a light position or wait and see. Attention should be paid to tariff policies, the Middle East situation, and spot freight rates [1][5][6]. 3. Summary by Related Content a. Freight Index - On December 29, the Shanghai Export Container Settlement Freight Index (SCFIS) for the European route was 1742.64 points, up 9.7% from the previous period; for the US - West route, it was 1301.41 points, up 35.3% from the previous period [2]. - On December 26, the Shanghai Export Container Freight Index (SCFI) was 1656.32 points, up 103.4 points from the previous period. The SCFI price for the European route was 1690 USD/TEU, up 10.24% from the previous period; for the US - West route, it was 2188 USD/FEU, up 9.84% from the previous period [3]. - On December 26, the Ningbo Export Container Freight Index (NCFI) composite index was 1094.77 points, up 7.24% from the previous period. The NCFI for the European route was 1144.37 points, up 7.22% from the previous period; for the US - West route, it was 1254.91 points, up 2.16% from the previous period. The China Export Container Freight Index (CCFI) composite index was 1124.73 points, up 0.6% from the previous period. The CCFI for the European route was 1473.90 points, up 0.2% from the previous period; for the US - West route, it was 792.06 points, down 0.9% from the previous period [4]. b. Economic Data - The eurozone's November composite PMI preliminary value was 52.4, slightly lower than October's 52.5, remaining above the boom - bust line of 50. The service sector PMI preliminary value was 53.1, higher than the previous value and the expected value, achieving the best monthly performance in a year and a half. The eurozone's December Sentix investor confidence index was - 6.2, better than the expected - 7 and the previous - 7.4 [5]. - In November, China's manufacturing PMI was 49.2%, up 0.2 percentage points from the previous month. In October, the composite PMI output index was 49.7, down 0.3 percentage points from the previous month, falling below the boom - bust line for the first time since 2023 [5]. - The US November S&P Global services PMI preliminary value was 55, higher than the expected 54.6 and the previous 54.8. The US November S&P Global composite PMI preliminary value was 54.8, rising for the second consecutive month, with an expected 54.6 and a previous 54.6 [5]. c. Futures Market - On December 30, the main contract 2602 closed at 1795.1, down 2.08%. The trading volume was 24,800 lots, and the open interest was 27,900 lots, a decrease of 2582 lots from the previous day. Due to strong pre - holiday caution and some long - position funds leaving the market, the main contract fluctuated downward [6]. d. Investment Strategies - Short - term strategy: After the main contract reached a new high, it was recommended to take full profits. Short - term investors are advised to wait and see and not to add more positions [7]. - Arbitrage strategy: In the context of international turmoil, each contract still follows the seasonal logic with large fluctuations. It is recommended to wait and see or try with a light position [7]. - Long - term strategy: It was recommended to take profits when each contract reached a high and wait for the price to stabilize after a pullback before making further judgments [7]. e. Contract Adjustments - The daily price limit for contracts 2508 - 2606 was adjusted to 18%. The company's margin for contracts 2508 - 2606 was adjusted to 28%. The daily opening limit for all contracts 2508 - 2606 was 100 lots [7]. f. Geopolitical Event - On December 28 (local time), the Israeli Defense Forces confirmed that last week, its delegation signed the 2026 tri - military cooperation work plan with the military representatives of Greece and Cyprus in Cyprus, as well as bilateral military cooperation plans between Israel and Greece and between Israel and Cyprus [8].

Core Viewpoint - Hainan Strait Shipping Co., Ltd. has experienced significant stock price fluctuations, with an 88.33% increase year-to-date, but a recent decline of 7.12% over the last five trading days [1] Group 1: Stock Performance - As of December 31, the stock price of Hainan Strait is 12.26 CNY per share, with a market capitalization of 27.397 billion CNY [1] - The stock has seen a trading volume of 4.75 billion CNY and a turnover rate of 1.77% [1] - The company has appeared on the stock market's "龙虎榜" six times this year, with the latest appearance on December 23 [1] Group 2: Financial Performance - For the period from January to September 2025, Hainan Strait reported a revenue of 3.923 billion CNY, reflecting a year-on-year growth of 21.84% [2] - The net profit attributable to shareholders for the same period was 190 million CNY, which represents a decrease of 24.99% year-on-year [2] Group 3: Business Operations - The company's main business segments include shipping services, with revenue contributions from various routes: 72.21% from Hainan to Anqing, 10.48% from Yantai to Dalian, and 6.17% from Xisha [1] - The company is involved in several concept sectors, including Hainan Free Trade Zone, tourism and hotels, and central enterprise reform [2] Group 4: Shareholder Information - As of December 19, the number of shareholders increased to 109,000, a rise of 7.92% [2] - The average number of circulating shares per shareholder decreased by 7.34% to 20,501 shares [2] - Major shareholders include Hong Kong Central Clearing Limited and various ETFs, with notable changes in their holdings [3]

Report Summary 1. Report Industry Investment Rating - The investment strategy for the shipping industry is to wait and see [9] 2. Core Viewpoint - The European container shipping market shows a trend of "simultaneous strengthening of futures and spot". Freight rates have rebounded for multiple consecutive weeks, with both spot and futures prices rising steadily. Shipping companies are strongly willing to control cabins and support prices. The demand side benefits from pre - Spring Festival stocking and restocking needs, and the cabin loading rate has improved. On the supply side, empty sailings have decreased, and effective capacity has tightened. The Red Sea situation has marginally eased, and some airlines are tentatively resuming flights, but overall they remain cautious. Freight rates may peak in early January, and the market faces adjustment pressure depending on demand sustainability and flight resumption progress [8] 3. Summary by Relevant Content 3.1 Shipping Freight Index - The current values of the Shanghai Export Container Freight Index (SCFI), China Export Container Freight Index (CCFI), SCFI - US West, SCFIS - US West, SCFI - US East, SCFI - Northwest Europe, SCFIS - Northwest Europe, and SCFI - Mediterranean are 1656, 1147, 2188, 962, 3033, 1690, 1589, and 3143 respectively. Their previous values were 1553, 1125, 1992, 924, 2846, 1533, 1510, and 2833 respectively, with corresponding increases of 6.66%, 1.95%, 9.84%, 4.11%, 6.57%, 10.24%, 5.23%, and 10.94% [4] 3.2 Spot Price - For the Gemini Alliance (MSK, HPL), MSK's freight rate in the second week of January rose to $2540/FEU, a $40 increase compared to the previous sailing. HPL - SPOT's price decreased from $3535/FEU in the first half of January to $3035/FEU, with an expected increase back to $3535/FEU in the second half of January. - For the OCEAN Alliance (OOCL, CMA), OOCL's freight rate in the first half of January remained flat at $3180 - 3230/FEU, and CMA's freight rate increased slightly from $3245/FEU to $3293/FEU. - For the MSG&PA Alliance (ONE, YML), ONE has an expected online increase to $2836/FEU in the second half of January, consistent with the announced increase in the first half. YML's offline quote is $2800/FEU, with special offers for larger volumes [7] 3.3 Market Information - Houthi movement leader Abdul - Malik al - Houthi warned that a new round of conflict with Israel is "certain and inevitable". Ukrainian President Volodymyr Zelensky hopes to reach a framework agreement to end the war when meeting with US President Trump. Trump plans to announce multiple major measures on the Gaza issue in early January, depending on his meeting with Israeli Prime Minister Netanyahu [5] 3.4 Market Trend - The market is in a volatile state [6]

1. Report Industry Investment Rating - Unilateral: The 12 - contract is expected to fluctuate, and the February contract is expected to fluctuate strongly. Arbitrage: None available [7] 2. Core View of the Report - The price of Maersk in the third week of January increased month - on - month, and the inflection point of freight rates still needs to be awaited. The cargo volume in December and January was at a relatively high level within the year. The valuation center of the 02 contract is constantly rising. The far - month contracts are facing the pressure of the Suez Canal's resumption of navigation, and their valuations are suppressed [1][4][5] 3. Summary According to the Directory I. Futures Price - As of December 30, 2025, the total open interest of all contracts of the container shipping index (European line) futures was 58,662.00 lots, and the single - day trading volume was 33,696.00 lots. The closing prices of EC2602, EC2604, EC2606, EC2608, EC2610, and EC2512 contracts were 1795.10, 1160.20, 1370.00, 1500.10, 1056.00, and 1308.00 respectively [6] II. Spot Price - On December 26, 2025, the SCFI (Shanghai - Europe route) price was $1690/TEU, the SCFI (Shanghai - West Coast of the United States) price was $2188/FEU, and the SCFI (Shanghai - East Coast of the United States) price was $3033/FEU. On December 29, the SCFIS (Shanghai - Europe) was 1742.64 points, and the SCFIS (Shanghai - West Coast of the United States) was 1301.41 points [6] III. Container Ship Capacity Supply - In January, the average weekly capacity was 306,200 TEU, and the capacities in WEEK2/3/4/5 were 314,900/278,900/333,100/298,000 TEU respectively. In February, the average weekly capacity was 274,500 TEU, and the capacities in WEEK6/7/8/9 were 316,800/319,200/217,800/244,400 TEU respectively. In January, there were 3 blank sailings (2 by the OA Alliance and 1 by the PA Alliance) and 1 TBN (1 by the OA Alliance). In February, there were 7 TBNs (4 by the OA Alliance, 3 by the MSC/PA Alliance) and 4 blank sailings (1 by the OA Alliance, 2 by the PA Alliance, and 1 by the Gemini Alliance). As of December 28, 2025, 260 container ships had been delivered in 2025, with a total capacity of 2.103 million TEU [3][6] IV. Supply Chain - The cease - fire mediation plan for Gaza is advancing, and the probability of the Suez Canal resuming navigation in 2026 is relatively high. Currently, Hapag - Lloyd said that if the Suez Canal resumes navigation, it is likely to happen after the Spring Festival in 2026. The resumption of the Suez Canal means an increase in effective capacity supply and the risk of further depressing freight rates [5] V. Demand and European Economy - The report does not provide specific content on this part, but the cargo volume in December and January was at a relatively high level within the year, and the signing process of long - term contracts by the OA Alliance and PA Alliance has accelerated [4]

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - The overall market shows a complex and volatile trend at the end of the year. Various factors such as policy, supply - demand, and geopolitical situation affect different sectors. For example, the stock index is expected to maintain a volatile upward trend before the end of the year due to sector rotation; the bond market sentiment is average with limited new information and is waiting for the release of official PMI data; different commodity futures also show different trends based on their own fundamentals and external factors [21][24]. Summary by Category Financial Derivatives - **Stock Index Futures**: The market closes steadily. The index shows a volatile upward trend due to sector rotation. It is recommended to go long on dips, conduct IM/IC futures - ETF arbitrage when the discount widens, and use a bull spread for options [21][22]. - **Treasury Futures**: The performance at the close is differentiated. The market is waiting for the official PMI data. It is recommended to hold short positions in TS and TF lightly and wait and see for arbitrage [24]. Agricultural Products - **Protein Meal**: There is still supply pressure, and the market shows a small - scale shock. It is recommended to lay out a small number of long positions, narrow the MRM spread, and use a short straddle strategy for options [28]. - **Sugar**: The international sugar price drops sharply, and the domestic price follows weakly. It is expected to oscillate near the current platform. It is recommended to wait and see for arbitrage and sell put options [33][34]. - **Oilseeds and Oils**: There is still a lack of obvious drivers, and the rebound space may be limited. It is recommended to hold a light position before the festival, go short after the rebound, and wait and see for arbitrage and options [35]. - **Corn/Corn Starch**: The spot price rises, but the futures price falls from a high level. It is recommended to go long on dips for the 03 and 07 contracts, narrow the 03 corn - starch spread, and wait and see for options [39]. - **Hogs**: The supply pressure decreases, and the spot price continues to be strong. It is recommended to wait and see [42]. - **Peanuts**: The spot price is stable, and the futures price shows a narrow - range shock. It is recommended that the 05 contract oscillates at the bottom, wait and see for arbitrage, and sell the pk603 - C - 8200 option [47]. - **Eggs**: The demand slightly recovers, but the price drops. It is recommended to go long on far - month contracts on dips and wait and see for arbitrage and options [51]. - **Apples**: The demand is average, and the price is mainly stable. It is recommended to oscillate in the short - term range, go long on the 1 contract and short on the 10 contract for arbitrage, and wait and see for options [56]. - **Cotton - Cotton Yarn**: The new cotton sales are good, and the price oscillates strongly. It is recommended that the US cotton oscillates in the range, the Zhengzhou cotton oscillates strongly with a possible short - term callback risk, and wait and see for arbitrage and options [60]. Black Metals - **Steel**: The raw material replenishment starts, and the steel price maintains a range - bound shock. It is recommended to maintain the shock trend, short the coil - coal ratio and the coil - screw spread, and wait and see for options [62][63]. - **Coking Coal and Coke**: They oscillate and wait for new drivers. It is recommended to wait and see mainly or go long on dips lightly, and wait and see for arbitrage and options [66][67]. - **Iron Ore**: The market expectation is repeated, and the price oscillates. It is recommended to oscillate in the short - term [69]. - **Ferroalloys**: The supply - demand margin is expected to improve, and the cost drives the price. It is recommended to go long on dips, wait and see for arbitrage, and sell out - of - the - money put options [72]. Non - ferrous Metals - **Gold and Silver**: They oscillate at a high level. It is recommended to wait and see temporarily [76]. - **Platinum and Palladium**: Pay attention to position management before the New Year's Day holiday. It is recommended to go long on dips, conduct long - platinum and short - palladium arbitrage, and wait and see for options [80][81][82]. - **Copper**: The short - term fluctuation intensifies. It is recommended to control the position, go long on dips in the long - term, and wait and see for arbitrage and options [83]. - **Alumina**: It oscillates mainly after the convergence of the warehouse receipt registration profit. It is recommended to wait and see for arbitrage and options [87]. - **Electrolytic Aluminum**: It oscillates at a high level. It is recommended to go long on dips, pay attention to the arbitrage opportunity of buying spot delivery products and shorting futures, and wait and see for options [91]. - **Cast Aluminum Alloy**: It oscillates at a high level with the sector. It is recommended to wait and see for arbitrage and options [94]. - **Zinc**: Control the position reasonably before the holiday. It is recommended to oscillate widely, wait and see for arbitrage, and wait and see for options [96]. - **Lead**: Pay attention to the impact of funds on the price and control the position reasonably before the holiday. It is recommended to take partial profits on long positions and hold the rest, wait and see for arbitrage, and wait and see for options [99]. - **Nickel**: The news of Indonesia's reduction of nickel ore quotas boosts the price. It is recommended to treat it as an upward trend before a significant inventory build - up, wait and see for arbitrage, and wait and see for options [100][101][102]. - **Stainless Steel**: It follows the nickel price and runs strongly. It is recommended to follow the nickel price to go long and wait and see for arbitrage [105]. - **Industrial Silicon**: It rebounds in the short - term and goes short on rallies in the medium - term. It is recommended to go short on rallies, conduct long - polysilicon and short - industrial silicon arbitrage, and sell out - of - the - money call options [106]. - **Polysilicon**: The long - term fundamentals are favorable, but the short - term trading volume shrinks. It is recommended to be cautious, conduct long - polysilicon and short - industrial silicon arbitrage, and sell put options [108]. - **Lithium Carbonate**: The subsidy policy boosts the sentiment. It is recommended to control the position and be cautious, wait and see for arbitrage, and wait and see for options [110]. - **Tin**: Some long - position funds take profits, and the price drops sharply. It is recommended to oscillate widely after the sharp drop and wait and see for options [113]. Shipping - **Container Shipping**: The MSK's price increase slightly exceeds expectations, and it is expected to oscillate at a high level in the short - term. It is recommended to take most profits on long positions of the EC2602 contract and hold the rest lightly, and wait and see for arbitrage [114][115]. Energy and Chemicals - **Crude Oil**: The market trading is light at the end of the year, and geopolitical conflicts cause fluctuations. It is recommended to oscillate widely, conduct relevant arbitrage, and wait and see for options [117][118]. - **Asphalt**: The raw material contradiction is difficult to resolve, and the price oscillates strongly. It is recommended to oscillate, wait and see for arbitrage, and wait and see for options [123]. - **Fuel Oil**: The near - end fundamentals of high - and low - sulfur fuel oils are weak. It is recommended to go short, conduct relevant arbitrage, and wait and see for options [126]. - **LPG**: The upward space is limited. It is recommended to go short on far - month contracts, wait and see for arbitrage, and wait and see for options [130]. - **PX & PTA**: The polyester sales and cost weaken, and the price drops from a high level. It is recommended to oscillate at a high level in the short - term, conduct relevant arbitrage, and wait and see for options [132]. - **BZ & EB**: The pure benzene inventory build - up pressure slows down, and the supply - demand contradiction is not significant. It is recommended to oscillate strongly, conduct short - pure benzene and long - styrene arbitrage, and wait and see for options [136]. - **Ethylene Glycol**: The port inventory continues to rise. It is recommended to oscillate widely in the short - term and weakly in the medium - term, wait and see for arbitrage, and sell call options [139]. - **Short - Fiber**: The processing fee is under pressure. It is recommended to oscillate, wait and see for arbitrage, and wait and see for options [141]. - **Bottle Chips**: The supply - demand is relatively loose. It is recommended to oscillate, wait and see for arbitrage, and wait and see for options [143]. - **Propylene**: The supply pressure is large, and the downstream product profits are differentiated. It is recommended to oscillate widely, wait and see for arbitrage, and sell both call and put options [146]. - **Plastic PP**: The PP inventory build - up rate slows down. It is recommended to hold long positions of the L 2605 contract, wait and see for the PP 2605 contract, conduct relevant arbitrage and wait and see, and sell and hold the PP2605 put option [148][149]. - **PVC**: It oscillates mainly. It is recommended to rebound continuously, wait and see for arbitrage, and wait and see for options [152]. - **Methanol**: It rises strongly. It is recommended to go long on the 05 contract, conduct relevant arbitrage, and sell put options on dips [154][155]. - **Urea**: It oscillates widely. It is recommended to pay attention to relevant policies and wait and see for relevant operations [157][158]. - **Natural Rubber and 20 - Number Rubber**: The global economic data continues to improve. It is recommended to go short in the short - term, wait and see for arbitrage, and wait and see for options [162]. - **Butadiene Rubber**: The chemical industry production slowdown continues. It is recommended to hold short positions of the BR 03 contract, conduct relevant arbitrage, and wait and see for options [165].

Report Summary 1. Report Industry Investment Rating No information about the report industry investment rating is provided in the given content. 2. Core Viewpoints - The pre - holiday sentiment is one of strong wait - and - see. The futures market is oscillating, and it is recommended to take profits and then mainly adopt a wait - and - see approach in the short term [1][7] - The tariff issue has a marginal effect, and the current core lies in the direction of spot freight rates. The main contract has shown a seasonal rebound, and it is suggested to participate lightly or wait and see [5] - Attention should be paid to tariff policies, the Middle East situation, and the spot freight rate situation [6] 3. Summary by Related Catalogs SCFIS, NCFI, and Other Freight Rate Indexes - On December 29, the Shanghai Export Container Settlement Freight Index (SCFIS) for the European route was 1742.64 points, up 9.7% from the previous period; for the US - West route, it was 1301.41 points, up 35.3% from the previous period [2] - On December 26, the Shanghai Export Container Freight Index (SCFI) was 1656.32 points, up 103.4 points from the previous period; the SCFI European line price was 1690 USD/TEU, up 10.24% from the previous period; the SCFI US - West route was 2188 USD/FEU, up 9.84% from the previous period [3] - On December 26, the Ningbo Export Container Freight Index (NCFI) composite index was 1094.77 points, up 7.24% from the previous period; the NCFI European route was 1144.37 points, up 7.22% from the previous period; the NCFI US - West route was 1254.91 points, up 2.16% from the previous period [4] - On December 26, the China Export Container Freight Index (CCFI) composite index was 1124.73 points, up 0.6% from the previous period; the CCFI European route was 1473.90 points, up 0.2% from the previous period; the CCFI US - West route was 792.06 points, down 0.9% from the previous period [4] Economic Data - The eurozone's November composite PMI preliminary value was 52.4, slightly lower than October's 52.5, remaining above the boom - bust line of 50. The service sector PMI preliminary value was 53.1, higher than the previous value of 53 and better than the expected value of 52.8 [5] - The eurozone's December Sentix investor confidence index was - 6.2, with an expected value of - 7 and a previous value of - 7.4 [5] - In November, the manufacturing PMI was 49.2%, up 0.2 percentage points from the previous month. In October, the composite PMI output index was 49.7, down 0.3 percentage points from the previous month, falling below the boom - bust line for the first time since 2023 [5] - The US November S&P Global services PMI preliminary value was 55, with an expected value of 54.6 and a previous value of 54.8; the US November S&P Global composite PMI preliminary value was 54.8, rising for the second consecutive month [5] Futures Market - On December 30, the main contract 2602 closed at 1795.1, down 2.08% with a trading volume of 24,800 lots and an open interest of 27,900 lots, a decrease of 2582 lots from the previous day [6] - Due to strong pre - holiday wait - and - see sentiment and some long - position funds reducing their positions, the main contract oscillated downward [6] Investment Strategies - Short - term strategy: The main contract has reached a new high. It is recommended to take all profits and mainly wait and see in the short term, not to continue adding positions [7] - Arbitrage strategy: Against the backdrop of international turmoil, each contract still follows seasonal logic with large fluctuations. It is recommended to wait and see temporarily or try with a light position [7] - Long - term strategy: It is recommended to take profits when each contract reaches a high, wait for the price to stabilize after a pull - back, and then judge the subsequent trend [7] Contract Adjustments - The daily limit for contracts 2508 - 2606 is adjusted to 18% [7] - The margin of the company for contracts 2508 - 2606 is adjusted to 28% [7] - The daily opening limit for all contracts 2508 - 2606 is 100 lots [7] Geopolitical Event - On December 28 (local time), the Israeli Defense Forces confirmed that last week, its delegation signed the 2026 tripartite military cooperation work plan with the military representatives of Greece and Cyprus in Cyprus, as well as bilateral military cooperation plans between Israel and Greece and between Israel and Cyprus [8]

1. Report Information - Report Name: Container Shipping Index Daily Report [1] - Date: December 31, 2025 [2] - Researcher: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] 2. Core Viewpoints - The SCFIS index rebounded 9.7% to 1742.64 points this week. The price increase in mid - to late December was well - implemented, with full cabins in the second - last week of December and some voyages over - booked. The freight rate in early January is around 2880 dollars, with good cargo collection. There may be some upside potential for the February contract, but the expectation of Red Sea route resumption after the Spring Festival may rise, so pay attention to shorting opportunities for the April contract in the off - season and the positive spread trading opportunity between 02 - 04 contracts [8] 3. Market Review and Operation Suggestions - **Spot Market**: The SCFIS index rose 9.7% to 1742.64 points this week. The January freight rate is around 2880 dollars with good cargo collection. There is an expectation of price increase in late January, and the February contract may have upside potential. However, pay attention to the shorting opportunity of the April contract in the off - season and the positive spread trading opportunity between 02 - 04 contracts [8] 4. Industry News - From December 22 to 26, the China export container shipping market showed a positive trend, with the comprehensive index rising 6.7% to 1656.32 points on December 26. European routes: The European economy in 2025 was weak, with manufacturing PMI below the boom - bust line and slow - down in service industry growth. The geopolitical and energy security risks are high. The spot market booking price rose during the signing season, with the Shanghai - to - Europe freight rate up 10.2% to 1690 dollars/TEU on December 26. Mediterranean routes: The market moved in tandem with European routes, with the freight rate up 10.9% to 3143 dollars/TEU on December 26. North American routes: The US job market showed a slight recovery, and the freight demand was good, with the Shanghai - to - West Coast and East Coast US freight rates up 9.8% and 6.6% to 2188 dollars/FEU and 3033 dollars/FEU respectively on December 26 [9][10] - Many shipping companies announced price increases. MSC raised rates on multiple routes from December 15, with the increase larger than at the beginning of the month, valid until December 31. Maersk and Hapag - Lloyd announced PSS increases on multiple routes. CMA CGM will impose a PSS of 250 dollars per TEU on Asian - to - Nordic routes from December 29 and adjust FAK rates from January 1, 2026 [10] - Israeli forces killed several Hamas members in Rafah. The armed militants in Rafah tunnels are still in direct contact with Hamas military leadership. The Suez Canal Authority announced that Maersk would resume Red Sea - Suez Canal navigation from early December, but Maersk later denied it [10] 5. Data Overview 5.1 Container Shipping Spot Prices | Route | 2025/12/29 | 2025/12/22 | Change | YoY (%) | | --- | --- | --- | --- | --- | | SCFIS: European Routes (Basic Ports) | 1742.64 | 1589.2 | 153.44 | 9.7% | | SCFIS: US West Coast Routes (Basic Ports) | 1301.41 | 962.1 | 339.31 | 35.3% | [12] 5.2 Container Shipping Index (European Routes) Futures Market | Contract | Previous Settlement Price | Opening Price | Closing Price | Settlement Price | Change | Change Rate (%) | Trading Volume | Open Interest | Open Interest Change | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | EC2602 | 1833.3 | 1835.0 | 1795.1 | 1792.0 | - 38.2 | - 2.08 | 24777 | 27855 | - 2582 | | EC2604 | 1164.6 | 1171.0 | 1160.2 | 1165.3 | - 4.4 | - 0.38 | 7238 | 21241 | 44 | | EC2606 | 1350.2 | 1385.0 | 1370.0 | 1370.1 | 19.8 | 1.47 | 856 | 2230 | - 129 | | EC2608 | 1498.2 | 1506.0 | 1500.1 | 1499.3 | 1.9 | 0.13 | 86 | 1196 | - 10 | | EC2610 | 1052.9 | 1057.0 | 1056.0 | 1056.4 | 3.1 | 0.29 | 643 | 6084 | 72 | | EC2612 | 1052.9 | 1300.1 | 1308.0 | 1285.3 | 255.1 | 24.23 | 96 | 56 | 56 | [6] 5.3 Shipping - Related Data Charts - Figures include the trend of container shipping European routes futures main and secondary main contracts, European container ship capacity, global container ship order backlog, Shanghai - Europe basic port freight rate, and Shanghai - Rotterdam spot freight rate [18][19][21]

Summary of Key Points Core Viewpoint - The article highlights the significant stock buybacks by various companies in Hong Kong, indicating a trend of companies returning capital to shareholders through repurchases, with notable amounts recorded in December 30. Group 1: Stock Buybacks - On December 30, a total of 61 Hong Kong stocks were involved in company buybacks, with 7 stocks having buyback amounts exceeding 10 million Hong Kong dollars [1] - Tencent Holdings, China COSCO Shipping Holdings, and China Feihe had the largest buyback amounts, with Tencent repurchasing 636 million Hong Kong dollars, COSCO 61.05 million Hong Kong dollars, and Feihe 36.34 million Hong Kong dollars [1] Group 2: Year-to-Date Buyback Data - As of December 30, 268 Hong Kong stocks have conducted buybacks this year, with 72 stocks having cumulative buyback amounts exceeding 100 million Hong Kong dollars [1] - The companies with the highest cumulative buyback amounts for the year include Tencent Holdings at 79.401 billion Hong Kong dollars, HSBC Holdings at 30.257 billion Hong Kong dollars, and AIA Group at 17.693 billion Hong Kong dollars [1]

中国青年报客户端讯(中青报·中青网记者李桂杰)中国海员建设工会与中国船东协会12月29日在北京对 《中国船员集体协议(A类)》修订达成一致意见并签署新一轮集体协议。 2009年，中国海员建设工会和中国船东协会建立中国船员集体协商工作机制，制定《中国船员集体协议 (A类)》，并坚持定期开展集体协商工作16年。协议广泛适用于中国籍船员、中国船东协会的会员单位 及其所拥有和(或)管理的国际航行船舶。在经历多轮修订后，集体协议逐步涵盖船员最低工资标准、最 低伙食费标准、伤病亡处理行业标准、提前解除劳动合同或上船协议规范程序等多项海上劳动标准。这 些标准在我国履行《2006年海事劳工公约》、维护船员切身利益、推动航运业健康可持续发展等方面发 挥了重要作用，获得了业内的广泛认可与应用。 来源：中国青年报客户端 双方一致同意，中国船员最低基薪标准在当前执行的协议版本基础上，增长4%，以一等水手为例，其 最低基薪将由717.76美元/每月增长至746.47美元/每月，船员最低日薪、小时薪相应提高。双方将于 2026年4月30日前，参照本次协商的结果和中国人民银行公布的2025年平均汇率，测算并公布中国船员 人民币最低基薪。本 ...

Core Viewpoint - China COSCO Shipping Holdings has been actively repurchasing its shares, indicating a strong commitment to enhancing shareholder value and confidence in its stock performance [1][2][3] Group 1: Share Buyback Details - On December 30, 2025, the company repurchased 4.3715 million shares at a price range of HKD 13.860 to HKD 14.060, totaling HKD 61.0054 million [1] - Since October 31, 2025, the company has conducted buybacks for 41 consecutive days, acquiring a total of 123 million shares for a cumulative amount of HKD 1.696 billion [1] - The stock price has increased by 4.48% during the buyback period [1] Group 2: Year-to-Date Buyback Activity - Year-to-date, the company has completed 135 buyback transactions, acquiring a total of 518 million shares for a total expenditure of HKD 6.927 billion [1] - The stock closed at HKD 13.980 on the day of the latest buyback, reflecting a 0.50% increase [1]