1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - The tariff issue has a marginal effect, and the current focus is on the trend 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 [3] - Maersk's announcement to raise freight rates in January boosts the bullish sentiment of long - positions, and the futures market shows a strong and volatile trend. Attention should be paid to tariff policies, the Middle East situation, and spot freight rates [3] 3. Summary by Related Content Freight Index - On December 1st, the Shanghai Export Container Settlement Freight Index (SCFIS) for the European route was 1483.65 points, down 9.5% from the previous period; the SCFIS for the US - West route was 948.77 points, down 14.4% from the previous period [2] - On December 5th, the Ningbo Export Container Freight Index (NCFI) (composite index) was 962.38 points, down 1.05% from the previous period; the NCFI for the European route was 967.55 points, down 5.57% from the previous period; the NCFI for the US - West route was 881.66 points, down 7.77% from the previous period [2] - On December 5th, the Shanghai Export Container Freight Index (SCFI) was 1397.63 points, down 5.5 points from the previous period; the SCFI for the European route was 1400 USD/TEU, down 0.28% from the previous period; the SCFI for the US - West route was 1550 USD/FEU, down 5.02% from the previous period [2] - On December 5th, the China Export Container Freight Index (CCFI) (composite index) was 1114.89 points, down 0.6% from the previous period; the CCFI for the European route was 1447.56 points, down 0.1% from the previous period; the CCFI for the US - West route was 878.1 points, down 0.4% from the previous period [2] PMI Data - In October, China's Manufacturing Purchasing Managers' Index (PMI) was 49.0%, down 0.8 percentage points from the previous month, indicating a decline in the manufacturing prosperity level. The Composite PMI Output Index was 50.0%, down 0.6 percentage points from the previous month, indicating that the overall production and operation activities of Chinese enterprises were stable [3] - The preliminary value of the Eurozone's Manufacturing PMI in October was 45.9 (expected 45.1, previous value 45); the preliminary value of the Services PMI was 51.2 (expected 51.5, previous value 51.4); the preliminary value of the Composite PMI was 49.7 (expected 49.7, previous value 49.6). The Sentix Investor Confidence Index in October had a previous value of - 9.2 and a predicted value of - 8.5 [2] - The preliminary value of the US S&P Global Services PMI in October was 55.2 (expected 53.5, previous value 54.2); the preliminary value of the Manufacturing PMI was 52.2 (expected 52); the preliminary value of the Composite PMI was 54.8 (expected 53.1, previous value 53.9) [3] Futures Market - On December 5th, the main contract 2602 closed at 1609.9, with a gain of 4.04%, a trading volume of 37,300 lots, and an open interest of 32,200 lots, a decrease of 2007 lots from the previous day [3] - The daily limit for contracts 2508 - 2606 was adjusted to 18%, the company's margin for contracts 2508 - 2606 was adjusted to 28%, and the daily opening limit for all contracts 2508 - 2606 was 100 lots [4] Trading Strategies - Short - term strategy: The main contract rebounds after a pull - back, and the fluctuation of far - month contracts slows down. Risk - takers are advised to try a light - position long on the main contract. When the market dips slightly, it is not recommended to add positions or hold losses, and stop - loss should be set [4] - Arbitrage strategy: Under the background of international situation turmoil, each contract still follows the seasonal logic with large fluctuations. It is recommended to wait and see or try a light - position [4] - Long - term strategy: It is recommended to take profits when each contract reaches a high, wait for the callback to stabilize, and then judge the subsequent direction [4]

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - The container shipping market is complex. The INDAMEX route of CMA CGM will change to pass through the Suez Canal, which is an important progress for container ships to return to the Red Sea route. The FEWB route has low empty - sailing rates and reduced capacity due to ship maintenance, with port congestion and strong e - commerce demand supporting freight rates. The TAWB route has serious port congestion due to labor disputes. The European container shipping route's December contract is in the delivery month, and the market is verifying previous expectations. The overall market is under downward - adjustment expectations, and the key to future trends lies in the final announcement of the "late - month freight rates" [7][8] 3. Summary by Relevant Catalogs 3.1 Shipping Derivatives Data - **Freight Rate Index**: The present values of Shanghai Export Container Freight Composite Index (SCET), China Export Container Freight Index (CCFI), SCFI - US West, SCFIS - US West, SCFI - US East, and SCFI - Northwest Europe are 1398, 1115, 1550, 2315, and 1400 respectively, with corresponding declines of - 0.39%, - 0.62%, - 5.02%, - 14.29%, - 4.65%, and - 0.28%. The present value of SCFIS - Northwest Europe is 1483 with a decline of - 9.52%, and the present value of SCFI - Mediterranean is 2300 with an increase of 3.05% [6] - **Contract Data**: For contracts like EC2506, EC2608, EC2610, EC2512, EC2602, and EC2604, the present values are 1252.5, 1367.1, 1040.0, 1658.6, 1609.9, and 1092.9 respectively, with corresponding changes of - 0.21%, - 1.34%, - 0.02%, 0.58%, 1.57%, and 0.26% [6] - **Position Data**: The present positions of EC2606, EC2608, EC2610, EC2512, EC2602, and EC2604 are 2108, 1559, 3976, 3500, 32215, and 19350 respectively, with corresponding changes of - 33, 10, 15, - 231, - 2007, and 221 [6] - **Monthly Spread Data**: The present values of 12 - 02, 12 - 04, and 02 - 04 monthly spreads are 48.7, 565.7, and 517.0 respectively, with corresponding changes of - 15.4, 6.7, and 22.1 [6] 3.2 Market News and Analysis - **Route Changes**: CMA CGM's INDAMEX route will pass through the Suez Canal, which is an important step for container ships to return to the Red Sea route, increasing the traffic volume of this key route [7] - **FEWB Route**: In December, shipping companies strictly controlled capacity, with an empty - sailing rate of only 0.9%. Ship maintenance further reduced capacity. European northern and Mediterranean ports were congested, which extended ship turnaround and increased rejections. Strong e - commerce demand supported freight rates, and shipping companies promoted GRI to drive the market up, and the rates are expected to remain high during Christmas and New Year [7] - **TAWB Route**: Ports in Northern Europe (such as Rotterdam) and the Mediterranean were seriously congested due to labor disputes, with yard utilization rates exceeding 90%. Many European countries also faced container shortages [7] - **European Container Shipping Route**: In December, the contract entered the delivery month. Although there were some signs supporting the bulls (such as price increase letters), the overall market was under the pressure of downward - adjustment expectations. The key to future trends is the final announcement of the "late - month freight rates", especially the performance of freight rates in mid - to - late December [8] 3.3 Strategy - The strategy is to wait and see as the December contract is gradually losing trading value [9]

1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report - High - frequency economic data focuses on four aspects: production end heat is differentiated, the real - estate market has seasonal improvement, prices continue to rise, and the Baltic Dry Index continues to rise rapidly. Short - term attention should be paid to the implementation of incremental policies on the consumption and investment sides and the recovery of the real - estate market [2][33] 3. Summary by Relevant Catalogs 3.1 Production: Steel Output Declines, Asphalt Operating Rate Rises Slightly at a Low Level - **Steel**: Coke oven capacity utilization increased by 0.62 pct, blast furnace operating rate decreased by 0.93 pct, and rebar output decreased by 16.77 tons. On the week of December 5th, the coke oven capacity utilization of domestic independent coking plants (230 samples) was 72.64%, the blast furnace operating rate of steel mills (247 samples) was 80.16%, and the national building materials steel mill rebar output was 189.31 tons [3][10] - **Petroleum Asphalt**: The operating rate increased by 0.1 pct but remained at a low level. On the week of December 3rd, the domestic petroleum asphalt plant operating rate was 27.9% [3][10] - **Chemical Industry**: PX operating rate decreased by 0.92 pct, and PTA operating rate remained flat. On December 4th, the domestic chemical PX operating rate was 89.21%, and the PTA operating rate was 73.81% [3][10] - **Automobile Tires**: The operating rate of all - steel tires increased by 0.17 pct, and that of semi - steel tires increased by 1.73 pct. On the week of December 4th, the operating rate of automobile all - steel tires was 63.5%, and that of semi - steel tires was 70.92% [11] 3.2 Demand: Seasonal Improvement in Commodity Housing Transactions, Rapid Uptrend of BDI Index - **Real Estate**: The commodity housing transaction area continued to rise, the inventory - to - sales ratio declined, the land supply area declined from a high level, and the residential land transaction premium rate rebounded. On the week of November 30th, the commodity housing transaction area of 30 large and medium - sized cities was 2.4449 million square meters, the inventory - to - sales ratio of 10 large cities was 89.07, the land supply area of 100 large and medium - sized cities was 34.2804 million square meters, and the residential land transaction premium rate was 3% [15] - **Movie Box Office**: It increased by 1.648 billion yuan compared with the previous week. On the week of November 30th, the national movie box office revenue was 211.1 million yuan [15] - **Automobile**: On the week of November 30th, the daily average retail sales of manufacturers increased by 54,500 vehicles, and the daily average wholesale sales increased by 90,300 vehicles [18] - **Shipping Freight Rates**: The SCFI index decreased by 0.39%, the CCFI index decreased by 0.62%, and the BDI index increased by 6.52%. On the week of December 5th, the SCFI was 1397.63 points, the CCFI was 1114.89 points, and the BDI was 2727 points [21] 3.3 Prices: Prices of Crude Oil, Metals, Coking Coal, and Agricultural Products All Rise - **Energy**: Brent crude oil price increased by 0.87% to $63.75 per barrel. On December 5th, the settlement price of Brent crude oil futures (continuous contract) was $63.75 per barrel [23] - **Coking Coal**: The futures price increased by 9.49% to 1165 yuan per ton. On December 5th, the settlement price of coking coal futures (active contract) was 1165 yuan per ton [23] - **Metals**: The futures price changes of LME copper, aluminum, and zinc were +4.38%, +1.24%, and +1.56% respectively, and the domestic rebar futures price increased by 2.13%. On December 5th, the closing price of LME copper futures (active contract) was $11,665 per ton, LME aluminum was $2900.5 per ton, LME zinc was $3098.5 per ton, and the domestic rebar futures settlement price was 3164 yuan per ton [24] - **Agricultural Products**: The overall price increased, with the 200 - index of agricultural product wholesale prices rising by 1.81%. The price changes of pork, eggs, vegetables, and fruits compared with the previous week were - 0.84%, +1.22%, +2.42%, and +2.63% respectively. On December 5th, the 200 - index of agricultural product wholesale prices was 128.78, the average wholesale price of pork was 17.68 yuan per kg, eggs were 7.44 yuan per kg, 28 kinds of key - monitored vegetables were 5.93 yuan per kg, and 7 kinds of key - monitored fruits were 7.41 yuan per kg [26][27] 3.4 Logistics: Both Domestic and International Flight Volumes Decline, and the Urban Congestion Index Drops Slightly - **Subway Passenger Volume**: It decreased in both Beijing and Shanghai. On December 4th, the seven - day moving average of Beijing's subway passenger volume was 9.6202 million person - times, and that of Shanghai was 10.5057 million person - times [29] - **Flight Execution Volume**: Both domestic and international flight volumes declined. On December 5th, the seven - day moving average of domestic (excluding Hong Kong, Macao, and Taiwan) flight execution volume was 12,359.14 flights, the seven - day moving average of domestic (Hong Kong, Macao, and Taiwan) flight execution volume was 364.43 flights, and the seven - day moving average of international flight execution volume was 1816.14 flights [31] - **Urban Traffic**: The peak congestion index of first - tier cities dropped slightly. On December 5th, the seven - day moving average of the peak congestion index of first - tier cities was 1.72 [31]

Report Summary 1. Report Industry Investment Rating - Not provided in the content. 2. Core Viewpoints - The EC12 contract is moving towards the delivery logic with little deviation. P1 is around 1550 - 1600 points, P2 is between 1650 - 1700 points, and P3 is expected to be flat [3]. - The EC02 contract has a neutral valuation with short - term upward drivers. Due to the improvement in cargo volume, there are expectations of stable freight rates in late December and price increases in January. Historically, freight rate peaks often occur 4 - 5 weeks before the Spring Festival (mid - to - late January 2026). However, the large amount of available capacity in January 2026 may suppress the peak. A cautious long - position view is maintained [3]. - The EC04 contract has limited short - term downside space. Attention should be paid to the short - selling opportunities when it may rise following the near - month contract [3]. 3. Summary by Category Futures Contract Data - EC2512: Yesterday's closing price was 1658.6, up 0.58% with a trading volume of 443 and an open interest of 3500, a decrease of 231 [2]. - EC2602: Yesterday's closing price was 1609.9, up 1.57% with a trading volume of 37284 and an open interest of 32215, a decrease of 2007 [2]. - EC2604: Yesterday's closing price was 1092.9, up 0.26% with a trading volume of 4598 and an open interest of 19350, an increase of 229 [2]. - EC2606: Yesterday's closing price was 1252.5, down 0.21% with a trading volume of 180 and an open interest of 2108, a decrease of 33 [2]. - EC2608: Yesterday's closing price was 1367.1, down 1.34% with a trading volume of 88 and an open interest of 1226, an increase of 10 [2]. - EC2610: Yesterday's closing price was 1040.0, down 0.02% with a trading volume of 406 and an open interest of 3976, an increase of 15 [2]. Month - spread Data - EC2512 - 2504: The month - spread was 565.7, with a day - on - day increase of 6.7 [2]. - EC2512 - 2602: The month - spread was 48.7, with a day - on - day decrease of 15.4 [2]. - EC2502 - 2604: The month - spread was 517.0, with a day - on - day increase of 22.1 [2]. Index Data - SCFIS (European Line): Updated on 2025/12/5, at 1400 dollars/TEU, down 0.28% [2]. - CCFI: Updated on 2025/12/5, at 1447.56 points, down 0.12% [2]. - NCFI: Updated on 2025/12/5, at 967.55 points, down 5.57% [2]. European Line Spot Freight Situation - Week 50: Maersk's opening price dropped to $2200, setting the tone. Other shipping companies followed suit, with OA at $2300 - 2400 and PA at $1900 - 2100. The current central price is $2200, equivalent to 1550 points on the futures market [4]. - Week 51: Maersk's opening price was $2400 (+$200), and COSCO's offline price was $2400 (+$200). Maersk announced a price increase for January, with the freight for 20 - foot/40 - foot containers on the European line rising to $2275/$3500 respectively [4].

2025年12月8日 集运日报 (航运研究小组) | 短期策略: 主力合约回撤反弹,远月合约波动放缓,风险偏好者已 | | --- | | 建议主力合约轻仓试多，盘面小幅跳水，不建议继续补仓，不建议 | | 扛单,设置好止损。 | | 套利策略：国际局势动荡背景下，各合约仍保持季节性逻辑，波动 | | 较大,建议暂时观望或轻仓尝试。 | | 长期策略:各合约已建议冲高止盈,等待回调企稳后,在判断后续 | | 方向 | | 跌涨停板:2508-2606合约调整为18%。 | | 我司保证金:2508-2606合约调整为28%。 | | 日内开仓限制: 2508-2606所有合约为100手。 | 财联社12月4日电，以色列国防军当地时间3日发布声明称，当天早些时候，巴勒斯坦伊斯兰抵抗运动（哈马斯）武装组织在加沙地带拉法地区公然 违反停火协议，武装人员袭击了正在当地部署的以色列军队，造成5名士兵受伤。声明指出，作为回应，以军在情报部门的指引下，在加沙地带南部 对一名哈马斯成员实施了空袭。声明强调，以军部队仍按照停火协议部署，并将继续采取行动，消除任何直接威胁。（央视新闻) 班轮公司宣涨1月运价，盘面偏强震荡，已建议 ...

Investment Rating - The report rates the transportation industry as "Outperform" [2] Core Views - Crude oil freight rates have declined from high levels, with mixed changes in ocean freight rates. The China Import Crude Oil Composite Index (CTFI) was reported at 2321.90 points on December 4, down 7.9% from November 27. The VLCC market has seen transactions at major loading ports, with shipowners trying to maintain price levels despite a cooling market [3][14] - China Eastern Airlines has launched the world's longest one-way flight route from Shanghai to Buenos Aires, reducing travel time by over 4 hours. Additionally, a ton-class eVTOL was included in urban firefighting drills for the first time [3][16] - In November, China's express delivery volume exceeded 180 billion items for the first time, marking a new record. The first full schedule China-Europe freight train departed from Shijiazhuang [3][24] Summary by Sections Industry Hot Events - Crude oil freight rates have decreased, with the Middle East route showing a 9.76% drop. The Shanghai port's export rates to Europe and the US have also seen declines of 0.3%, 5.0%, and 4.7% respectively [14][15] - The launch of the longest flight route by China Eastern Airlines connects Shanghai to Buenos Aires, significantly shortening travel time [16][17] - The express delivery volume in China reached a record high of 180 billion items in November, reflecting strong economic vitality [24][26] High-Frequency Data Tracking - The Baltic Air Freight Price Index has increased month-on-month but decreased year-on-year. The Shanghai outbound air freight price index was reported at 5721.00 points, up 2.4% year-on-year [28] - Domestic freight flight numbers decreased by 2.03% year-on-year in November, while international flights increased by 14.88% [30] - The SCFI index for container shipping was reported at 1397.63 points, down 0.39% week-on-week and down 38.06% year-on-year [37] Investment Recommendations - Focus on the equipment and manufacturing export chain, recommending companies like COSCO Shipping, China Merchants Energy Shipping, and Huamao Logistics [5] - Attention to the transportation demand increase driven by hydropower station construction in the Yarlung Tsangpo River downstream [5] - Investment opportunities in low-altitude economy trends, recommending CITIC Offshore Helicopter [5] - Opportunities in the highway and railway sectors, recommending Gansu Expressway, Beijing-Shanghai High-Speed Railway, and others [5] - Investment opportunities in the cruise and ferry sectors, recommending Bohai Ferry and Haixia Shares [5] - E-commerce and express delivery investment opportunities, recommending SF Express, Jitu Express, and Yunda [5] - Opportunities in the aviation sector, recommending Air China, China Southern Airlines, and others [5]

日度报告——综合晨报 中国 11 月末黄金储备增加 3 万盎司，美国石 油钻机数量上升 [T报ab告le_日R期an：k] 2025-12-08 晨 国常会研究进一步做好节能降碳工作 报 A 股短期内受保险新规提振，但行情并未大幅放量，总体上资金 仍然处于观望状态。宏观周来临，将为股市定调。 黑色金属（螺纹钢/热轧卷板） 11 月下旬重点钢企粗钢日产 181.8 万吨 宏观策略（黄金） 中国 11 月末黄金储备增加 3 万盎司 周五金价震荡收跌至 4200 美金下方，日内波动增加，美国 9 月 核心 PCE 同比 2.8%基本符合预期，市场对于本周 12 月利率会 议降息 25bp 也定价充分。 宏观策略（外汇期货(美元指数)） 美国 11 月物价指数符合预期 综 美国 11 月核心 PCE 物价符合预期，通胀压力放缓，市场风险偏 好回升，美元指数走弱。 合 宏观策略（股指期货） 钢价震荡运行，近期五大品种去库尚可，但卷板绝对库存压力 较高。钢价趋势性驱动依然不强。临近年末，市场政策预期升 温，关注预期落地情况。 农产品（豆粕） 阿根廷大豆播种完成 49% 市场仍不确定美豆出口改善程度，此外 USDA 预测明 ...

Summary of Key Points from Conference Call Records Industry Overview Aviation Industry - The adjustment of the China-Japan route impacts airlines and ticket prices, with the route accounting for 3% of the total market share. The removal of flights has led to a shift in capacity to domestic flights, causing ticket prices to stabilize or slightly decline from previous growth of 2-3% [2] - Airlines have extended the free ticket refund period for the China-Japan route until March 31, 2026, resulting in short-term disruptions but overall limited impact due to the small number of flights removed [2] - The recommendation for airline stocks includes China Southern Airlines, China Eastern Airlines, and Air China, followed by Huaxia Airlines, Juneyao Airlines, and Spring Airlines [2] Retail and Duty-Free Market - The Shanghai Airport duty-free store bidding process has sparked discussions, with potential new operators being introduced as existing shareholders oppose the bid. This could lead to increased revenue for Shanghai Airport [4] - The bidding process may benefit Shanghai Airport regardless of the outcome, as the expected revenue from the bidding exceeds investment returns [4] Shipping and Bulk Freight - The Baltic Dry Index (BDI) reached a two-year high of 2,854 points, driven by the upcoming production of the West Manganese Mine and concentrated shipments from Australian mines [5] - The outlook for the bulk shipping market remains positive, with recommendations for stocks such as Haitong Development, Pacific Shipping, and China Merchants Energy [5] Express Delivery Industry - Jitu's volume growth in Southeast Asia reached 78% during the Double Eleven shopping festival, with new market growth at 83%, indicating strong performance [6] - The express delivery sector is experiencing a shift, with leading companies increasing market share while lower-tier companies see declines. Zhongtong has returned to double-digit growth in October and November, making it an attractive investment opportunity [7] Commodity Market Insights Metal Market - The commodity cycle since 2020 is not yet halfway through, with expectations for a bull market in 2026 driven by a weakening dollar and supply chain disruptions [8] - The investment strategy for 2026 focuses on energy metals, nickel, cobalt, gold, copper, aluminum, and strategic metals, influenced by energy revolutions and geopolitical tensions [11] - Specific insights include: - Nickel and cobalt prices are expected to remain high due to quota systems and unexpected demand for energy storage [8] - Copper's supply issues are critical, with both financial and commodity attributes driving its value [8] - Aluminum is anticipated to break out of a three-year range due to low inventory and increased demand from industrial and energy sectors [8] Coal Market - The coal market is currently under pressure, with prices for Shanxi coal dropping by 27 yuan, and overall coal inventory rising but still below last year's levels [13][14] - Electricity consumption has decreased year-on-year, but there is a seasonal uptick in demand [15] - The national coal market conference indicated a balanced supply-demand outlook for 2026, with a focus on long-term contracts and import controls to stabilize prices [16] Future Projections - The overall sentiment for the metal sector in 2026 is optimistic, emphasizing the importance of energy revolutions and geopolitical factors for long-term investment opportunities [9]

Core Insights - The global VLCC (Very Large Crude Carrier) newbuilding market is experiencing a significant surge, with multiple prominent shipping companies placing orders simultaneously, driven by supply chain cycles, geopolitical energy shifts, and the need to replace aging vessels [1][13]. Group 1: Order Trends - Since July, 38 VLCC new orders have been placed globally, a substantial increase from 12 in the first half of the year, marking a decisive event for the 2025 tanker market [1]. - Idan Ofer's EPS has confirmed an order for 6 VLCCs, totaling between $1.1 billion and $1.6 billion, marking a strong return to the VLCC market after exiting in 2018 [3][4]. - Zodiac Maritime, owned by Eyal Ofer, has also returned to the VLCC market with orders for up to 8 VLCCs and 6 container ships, with a total investment of approximately $1.6 billion [3][4]. Group 2: Market Dynamics - The VLCC spot market has seen day rates exceed $100,000, prompting shipyards to raise newbuilding prices by 5% to 10% [5]. - Ray Car Carriers has doubled its VLCC orders from 4 to 8, indicating a strategic diversification into the VLCC sector [6][7]. - Maran Tankers has signed contracts for 4 VLCCs, marking its return to the market after four years, with a focus on high-end vessel construction [8]. Group 3: Strategic Implications - Trafigura has expanded its VLCC orders to 10, reflecting a strategic bet on the future amid an aging fleet and supply constraints [9]. - Greek shipping companies, including Capital Group and Dynacom, have collectively increased their VLCC orders, signaling a strong market confidence [10]. - Asian shipping giants like HMM and COSCO have also placed significant orders, reinforcing the trend of regional diversification in the VLCC market [11]. Group 4: Structural Forces - The surge in VLCC orders is driven by three structural forces: strong cash flow from high spot rates, the urgent need to replace aging vessels, and tightening emissions regulations necessitating compliant new builds [13][14][15]. - Over 40% of the global VLCC fleet is over 15 years old, indicating a critical replacement phase [14]. - The tightening of carbon emission regulations is pushing shipowners towards high-efficiency and dual-fuel VLCCs, making compliance a necessity for future operations [15]. Group 5: Competitive Landscape - Chinese shipyards, such as Hengli Heavy Industry and Jiangsu Hantong, are positioned as key players in this VLCC wave due to their delivery certainty and cost-effectiveness [15]. - Korean shipyards, including Hanwha Ocean and HD Hyundai, continue to lead in high-end complex vessel construction, solidifying their competitive edge [15].

韩岩滨认为，在此背景下，上海在巩固规模优势的同时，应向效率与创新双轮驱动转型，从政策对标迈 向制度创新引领，以更加开放、包容、国际化、市场化的制度环境构建核心竞争力，可以从五方面行 动：一是强化政策创新与网络效应。 通过扩大沿海捎带政策试点和应用范围，形成高效稳定的制度网 络，释放政策红利，提升国际服务竞争力，支持区域性全渠道履约中心、国际物流中心和新兴业务发 展，打造更加灵活、开放、市场化的制度环境。 二是推动数智化升级，打造全球航运数据枢纽。 在现有绿色港口走廊基础上，探索建设绿色数字走 廊，加强与洛杉矶、鹿特丹、新加坡等港口的数据合作，建立统一数据标准，实现船期优化、航速降 低、码头效率提升及班轮碳排放减少，推动全球航运绿色发展。 新华财经上海12月7日电（葛佳明）12月7日，上海加快"五个中心"建设研讨会在沪举行，来自中外政产 学研各环节的资深专家共商上海经济社会高质量发展面临的新机遇和新挑战，为"五个中心"形成合力建 言献策。 马士基码头公司中国区总裁韩岩滨发表了题为"上海国际航运中心的发展机遇"的演讲，围绕全球航运格 局变化、上海国际航运中心建设机遇及后续行动建议进行了阐述。在韩岩滨看来，上海具备 ...