Core Insights - Ningbo Ocean Transportation Co., Ltd. reported a revenue of 1.581 billion yuan for Q3 2025, marking a year-on-year increase of 19.23%, and a net profit attributable to shareholders of 155 million yuan, up 21.15% year-on-year [1] - The company is focusing on strategic planning and layout to solidify its long-term development foundation [1] Container Business - The near-sea shipping routes have shown steady growth, with enhancements in Southeast Asia shipping services [1] - Two direct lines to Thailand and Vietnam have been renewed, and a new direct shipping line from Ningbo to Wenzhou to Manila has been launched, improving regional route networks [1] - The total number of shipping routes has exceeded 40, creating a comprehensive network for domestic and near-sea trade [1] Bulk Cargo Business - In Q3 2025, the company successfully launched its first West Africa route, marking a significant step in expanding its global shipping network [2] - This development underscores the company's commitment to deepening its presence in the West African market [2] Green Fleet Development - The company has integrated green and low-carbon principles into its fleet planning and operations, with 29 green energy-efficient vessels, accounting for 54.7% of its owned fleet [3] - The "740 standard container pure electric ship" project has been recognized as a national demonstration project for green low-carbon technology [3] - The first domestic pure electric ship has completed its hull construction and core power system installation [3] Market Response and Future Outlook - The international shipping market has experienced fluctuations due to multiple external factors, but the company has managed to enhance its main shipping business and expand its global route network [4] - The company has been recognized for its excellence in environmental, social, and governance (ESG) practices, being included in the "2025 Zhejiang Business ESG Classic 100" list [4] - Looking ahead, the company aims to strengthen its competitive capabilities and work towards becoming a leading regional logistics service provider in Asia [4]

Core Viewpoint - Ningbo Marine (600798.SH) reported a revenue increase of 19.3% year-on-year for the first three quarters of 2025, reaching 1.989 billion yuan, but experienced a net loss attributable to shareholders of 31.5463 million yuan, worsening by 22.9123 million yuan compared to the same period last year [1] Financial Performance - Total operating revenue for the first three quarters of 2025 was 1.989 billion yuan, reflecting a year-on-year growth of 19.3% [1] - The net profit attributable to shareholders was -31.5463 million yuan, which is a decline of 22.9123 million yuan compared to the previous year [1] - Basic earnings per share stood at -0.0261 yuan [1]

Core Insights - Ningbo Ocean (601022.SH) reported a total operating revenue of 4.509 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 19.64% [1] - The net profit attributable to shareholders of the parent company reached 533 million yuan, reflecting a year-on-year growth of 31.61% [1] - The basic earnings per share stood at 0.41 yuan [1]

本次交易旨在进一步优化资源配置，提高上市公司质量，将中远海运集团内优质资产进一步向上市公司 集聚。本次交易拟将上海液化气（主营业务为LPG运输）纳入上市公司主体范围，由大连海能（本公司 旗下从事LPG等化工品运输和氢基绿色能源综合物流业务的专业公司）实行统一运营与管理，有助于形 成规模效应，增强本上市主体在LPG业务板块的市场竞争力。本次交易将中远海运集团内已投产的、公 司正在托管的LPG运输核心资产正式注入上市公司，有助于规范本公司与控股股东及其关联方之间的业 务关系，有效排除潜在的同业竞争风险，提升公司治理规范性与透明度。 格隆汇10月28日丨中远海能(600026.SH)公布，为推进能源化工品和氢基绿色能源供应链业务的整合工 作，进一步减少关联交易和同业竞争，中远海能全资子公司大连海能计划与大连投资签署股权收购协 议，以现金约人民币5.98亿元收购大连投资持有的上海液化气100%股权。大连海能将以40%的自有资金 和60%的外部融资方式支付交易价格。公司将以自有资金向大连海能增资约人民币2.392亿元。 ...

| | | 集运指数（欧线）期货日报 2025/10/28 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不 做任何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状 | 项目类别 | 数据指标 环比 数据指标 | 最新 | 最新 | 环比 | | --- | --- | --- | --- | --- | | | EC主力收盘价 -11.9↓ EC次主力收盘价 | 1788.300 | 1548.7 | -38.80↓ | | 期货盘面 | +36.20↑ EC2512-EC2604价差 EC2512-EC2602价差 | 239.60 | 625.60 | +29.40↑ | | | EC合约基差 -13.30↓ | -475.59 | | | | 期货持仓头寸（手） EC主力持仓量 | 905↑ | 28900 | | | | | SCFIS（欧线）（周） 172.33↑ SCFIS（美西线）（周） | 1312.71 | 863.46 | -14.34↓ | | | SCFI（综合指数） ...

Core Viewpoint - Ningbo Ocean announced the convening of its 16th board meeting for the second session on October 28, 2025, to review the proposal for the third quarter report of 2025 [1] Company Summary - For the year 2024, Ningbo Ocean's revenue composition is as follows: transportation services account for 86.34%, comprehensive logistics and agency services account for 11.85%, and other businesses account for 1.81% [1] - As of the report, Ningbo Ocean has a market capitalization of 13.9 billion yuan [1]

Report Industry Investment Rating - Not provided Core Viewpoints - In early November, the planned capacity on European and American routes declined from a high level, while the capacity on the China - Southeast Asia route remained high. The volume of cargo - laden containers shipped from China to the US decreased again, the arrival volume at US ports continued to decline, and the throughput at domestic ports rebounded and remained higher than last year. In mid - October, the US booking volume rebounded [1][2]. Summaries by Related Catalogs High - Frequency Capacity Data - In the 45th week (November 2 - 9), the planned capacity on the US West route was 273,000 TEU, a significant decline of 30% year - on - year and 19% month - on - month; the capacity on the US East route was 164,000 TEU, a year - on - year decline of 9.5% and a month - on - month decline of 23.9%. The capacity on the China - Southeast Asia route was 583,000 TEU, with a year - on - year positive growth of 40.6% and a month - on - month decline of 8.5% [1]. - In the 45th week, the planned capacity on the China - Northern Europe route was 325,000 TEU, with a month - on - month decline of 5.6% and a year - on - year increase of 23.5%; the capacity on the Mediterranean route was 230,000 TEU, a year - on - year increase of 36.8% and a month - on - month decline of 14.8% [2]. Cargo - Laden Container Volume Data Sent to the US - As of October 27, the volume of cargo - laden containers shipped from China to the US was 342,000 TEU, a 6.5% decline from the previous week, and the number of ships was 43, also a 6.5% decline from the previous week. The volume of cargo - laden containers shipped from Vietnam to the US rebounded to 140,000 TEU, a 47.3% month - on - month increase [2]. US Port Arrival Volume Data - As of October 28, the weekly total arrival volume of imported goods at US ports was 465,000 TEU, a 15.7% month - on - month decline; the previous week's data was revised to 550,000 TEU, a 5.9% month - on - month increase. The arrival volume of imported containers from China was 160,000 TEU, and the previous week's data was revised to 202,000 TEU, with only a 0.5% month - on - month increase; the arrival volume of imported containers from Vietnam was 61,000 TEU, and the previous week's data was revised to 74,000 TEU, a 41.7% month - on - month increase [2]. Domestic Port Throughput Data - In the week of October 26, the container throughput at domestic ports decreased by 8.5% month - on - month, was basically flat year - on - year, and reached 5.903 million TEU [2]. Vizion Booking Data - From October 13 - 20, the total US booking volume was updated to 353,000 TEU, a 11.4% month - on - month increase and a 0.8% year - on - year increase; the booking volume from China was 141,000 TEU, a 27% month - on - month increase and a 0.1% year - on - year decrease [3]

大宗商品研究所 航运研发报告 航运日报 2025 年 10 月 28 日 航运日报 第一部分 集装箱航运——集运指数（欧线） 期货从业证号： F3084078 投资咨询证号： Z0018656 联系方式： :jiaruilin_qh@chinastock.com.cn | 银河期货集运指数（欧线） | | | | 日报 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 期货盘面 | | | | | | | | | 期货合约 | 收盘价 | 涨跌 | 涨跌幅 | 成交量（手） | 增减幅 | 持仓量(手) | 增减幅 | | EC2512 | 1,788.3 | 13.3 | 0.75% | 26,019.0 | -6.23% | 28,900.0 | 3.23% | | EC2602 | 1,548.7 | -22.9 | -1.46% | 6,213.0 | 0.63% | 13,910.0 | 5.88% | | EC2604 | 1,162.7 | -16.1 | -1.37% | 2,279.0 | 11.44% | 14,279. ...

每经AI快讯，10月28日，中远海能(600026.SH)公告称，全资子公司大连中远海运能源供应链有限公司 计划以现金约5.98亿元收购中远海运大连投资有限公司持有的上海中远海运液化气运输有限公司100% 股权。此次交易旨在减少关联交易和同业竞争，实现液化石油气（LPG）业务统一经营与发展。交易价 格以评估机构出具的资产评估报告中确认的截至2025年6月30日的上海液化气股东全部权益价值的评估 值为依据，并最终以国资有权部门备案的评估值为准。 ...

格隆汇10月28日｜宁波远洋：第三季度营收为15.81亿元，同比增长19.23%；净利润为1.55亿元，同比 增长21.15%。前三季度营收为45.09亿元，同比增长19.64%；净利润为5.33亿元，同比增长31.61%。 ...