Core Insights - The 2025 China Maritime Day event in Shanghai highlighted the city's position as a leading international shipping center, with the latest Xinhua-Baltic International Shipping Development Index being released [1] - The North Bund area has transformed from an "old wharf" to a "shipping headquarters base," enhancing Shanghai's international shipping influence and competitiveness [2][6] - The North Bund is actively inviting global shipping institutions and experts to contribute to its development plans, focusing on green and intelligent shipping [2][3] Development and Planning - The North Bund's new development phase aligns with the 14th Five-Year Plan, aiming to optimize the shipping operator environment and expand green and digital shipping services [2] - The North Bund has previously engaged in global design competitions to enhance urban planning and development, showcasing its international vision [3] Industry Growth and Attraction - By the end of 2024, nearly 4,500 key shipping enterprises are expected to be concentrated in the Hongkou District, with 16 of the world's top 50 container shipping companies establishing regional headquarters or offices in the North Bund [5] - The North Bund has attracted major shipping companies, including MSC Mediterranean Shipping Company, which has established its regional headquarters there [4] International Standards and Green Initiatives - The North Bund is leading the establishment of a sustainable fuel certification system in line with international maritime organization standards, aiming to create a globally influential low-carbon governance framework [7][8] - The area has become a hub for green and low-carbon initiatives, with nearly 800 related enterprises and a projected industry scale exceeding 70 billion yuan by 2024 [7] Global Influence and Collaboration - The North Bund is increasingly recognized for its role in setting international maritime standards, with significant growth in maritime arbitration cases and the establishment of various maritime training and arbitration centers [8] - The area aims to enhance its global shipping resource allocation capabilities and promote technological breakthroughs in shipping, contributing to the development of the global shipping industry [8]

Report Summary 1. Core View - The shipping capacity in July and August 2025 shows different levels, with weekly average capacities of 295,000 and 313,000 TEU respectively. The cargo volume is entering a downward period, which is expected to put significant pressure on subsequent freight rates. The recent quotes of European routes have decreased, and the quotes of shipping companies in late July are generally stable [1]. 2. Key Data Futures Contracts | Contract | Closing Price | Change (%) | Base Price | Trading Volume | Open Interest | Open Interest Change | | ---- | ---- | ---- | ---- | ---- | ---- | ---- | | EC2508 | 2022.5 | 0.50 | 235.5 | 34566 | 30842 | -403 | | EC2510 | 2022.5 | 0.80 | 235.5 | - | - | - | | EC2512 | 1556.4 | 0.17 | 701.6 | 1644 | 6032 | - | | EC2602 | 1365.7 | 0.91 | 892.3 | 416 | 3799 | 24 | | EC2604 | 1204.0 | 1.11 | 1054.0 | 088 | - | 28 | | EC2606 | 1342.1 | 0.72 | 915.9 | 109 | 471 | 41 | [1] Spot Indices | Index | Update Frequency | Announcement Date | Unit | Current Period | Previous Period | Two Periods Ago | Current Change | Previous Change | | ---- | ---- | ---- | ---- | ---- | ---- | ---- | ---- | ---- | | Terdar | Electric Appliance | 2025/7/7 | Yuan | 2258.04 | 2123.24 | 1937.14 | 6.35% | 9.61% | | SCFI (European Route) | Weekly | 2025/7/4 | USD/TEU | 2101 | 2030 | 1832 | 3.50% | 10.63% | | CCFI (European Route) | Weekly | 2025/7/4 | Points | 1694.3 | 1640.72 | 1578.6 | 3.27% | 3.94% | | NCFI (European Route) | Weekly | 2025/7/4 | Points | 1442.46 | 1442.95 | 1299.58 | -0.03% | 11.03% | | TCI | Daily | 2025/7/9 | - | 1019.55 | 1019.55 | 1019.55 | 0.00% | 0.00% | [1] Freight Rates - The freight rates in the first half of July were around $3380 (equivalent to 2350 points on the futures market). The quotes of shipping companies in late July are generally stable, with the current quote range between $2900 - $3500, and the average is $3400 (equivalent to 2400 points on the futures market) [1][2] 3. Market News - On July 11, Israeli senior officials stated that a cease - fire agreement in Gaza might be reached in one or two weeks. Israel will offer a temporary cease - fire, and if Hamas does not lay down its arms, Israel will continue military operations. Houthi armed leaders said that as long as Israel continues its "aggression" in Gaza, their maritime operations against ships will continue. The Houthi armed forces claimed to have launched 45 attacks on Israeli - related targets in the past week [3] 4. Shipping Capacity and Quote Changes - The shipping capacity in the third week of July is relatively high at 320,000 TEU, and the fourth - week capacity is 290,000 TEU. The capacity in the first week of August reaches 340,000 TEU. Recently, the quotes of European routes have decreased. On Thursday, MSC's offline quote dropped from $3440 to $3140, and HPL's online quote dropped from $3535 to $3335 [1]

Group 1 - The core viewpoint of the article emphasizes the transformation trends in the shipping industry, including digitalization, intelligence, and greening, which are redefining the concept of a "world-class shipping center" [1][2] - The Baltic Exchange's International Shipping Center Development Index has been published for 12 consecutive years, reflecting the evolution and changes in the global shipping industry [1] - The assessment results for 2025 indicate a dynamic and evolving shipping landscape influenced by changes in trade patterns, decarbonization trends, and accelerated digitalization [1] Group 2 - China's ports are leading in digitalization, intelligence, and greening, with Shanghai ranking third in the International Shipping Center Development Index, while Ningbo-Zhoushan Port continues to rise in rankings [2] - In 2024, Shanghai's container throughput exceeded 51.51 million TEUs, marking a 4.8% year-on-year increase, making it the first port globally to surpass 50 million TEUs [2] - Shanghai's leading position in the global shipping system is attributed not only to its throughput but also to its mature shipping ecosystem, which includes key insurance institutions, shipbuilding companies, shipping finance institutions, maritime courts, and international trade hubs [2] Group 3 - The Baltic Exchange is the only independent and authoritative shipping market information provider globally, offering benchmark data for spot and derivative contracts [3] - The Baltic Exchange has a network of over 5,000 international members representing core interests in the global shipping industry, adhering to strict business conduct standards [3]

Core Points - The Shanghai Composite Index opened high and fluctuated, with the CSI 300 Transportation Index reported at 3840.29 points [1] - The CSI 300 Transportation Index has decreased by 0.50% over the past month, increased by 3.23% over the past three months, and has declined by 1.05% year-to-date [2] - The CSI 300 Index is categorized into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries, with a base date of December 31, 2004, set at 1000.0 points [2] Industry Composition - The top ten weights in the CSI 300 Transportation Index are: Beijing-Shanghai High-Speed Railway (26.22%), SF Holding (17.99%), COSCO Shipping Holdings (14.88%), Datong Railway (12.52%), China Eastern Airlines (5.08%), China Southern Airlines (4.84%), Air China (4.36%), Spring Airlines (4.17%), YTO Express (3.73%), and China Merchants Energy Shipping (3.07%) [2] - The market segments of the CSI 300 Transportation Index show that the Shanghai Stock Exchange accounts for 81.09%, while the Shenzhen Stock Exchange accounts for 18.91% [2] Sector Breakdown - The industry composition of the CSI 300 Transportation Index includes: railway transportation (38.74%), express delivery (21.72%), shipping (20.16%), and air transportation (19.38%) [3] - The index sample is adjusted biannually, with adjustments implemented on the next trading day following the second Friday of June and December each year [3] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made in response to changes in the CSI 300 Index samples [3]

Core Viewpoint - The 2025 China Maritime Day emphasizes "Green Navigation for New Strength," highlighting the country's commitment to sustainable maritime development and the achievements in the shipping industry [1]. Group 1: Event Overview - The main event for the 2025 Maritime Day took place in Qionghai, Hainan, featuring over 20 activities including forums, seminars, and cultural experiences [1]. - The event released the 2024 China Shipping Development Report and announced lists of safe and trustworthy shipping companies, labor models, and award winners in maritime science and technology [1]. Group 2: Industry Achievements - China boasts the world's largest shipping fleet and port cluster, with nearly one-third of global maritime transport volume, contributing significantly to global trade stability [1]. - In 2024, waterway freight volume reached 9.81 billion tons, a 1.64 times increase over the past decade, with a turnover of 14 trillion ton-kilometers, accounting for 55.6% of total cargo turnover [3]. Group 3: Green Transformation Initiatives - The Ministry of Transport is promoting the green transformation of the shipping industry by optimizing transport structures, enhancing clean energy technology, and developing green port infrastructure [2]. - Significant progress has been made in the application of new energy and clean energy vessels, with major ports like Shanghai successfully implementing clean energy refueling operations [3]. Group 4: Future Directions - The Ministry of Transport plans to enhance the green shipping policy framework, develop carbon emission monitoring standards, and promote the construction of international green shipping corridors [4]. - The focus will also be on integrating new technologies such as AI, IoT, and 5G into the shipping sector to improve digitalization across the entire supply chain [4].

Core Insights - The Baltic Dry Index (BDI) has rebounded significantly in the first half of 2025, with a cumulative increase of 49.35%, indicating a strong performance among global asset classes [1] - The BDI serves as a barometer for global economic conditions, reflecting trade market health and demand fluctuations, particularly in relation to China's import and export activities [1][2] - China's ports are undergoing a transformation towards digitalization, intelligence, and sustainability, enhancing the resilience and vitality of the shipping industry [1][5] Economic Trends - The BDI is closely correlated with global economic development, particularly in the demand for raw materials essential for manufacturing, such as iron ore, coal, and grains [2] - Historical data shows that the BDI trends align with global GDP growth and manufacturing PMI, indicating its role as a leading indicator for macroeconomic conditions [2][3] - The first quarter of 2025 saw a recovery in dry bulk shipping demand, although fluctuations occurred due to U.S. tariff policies impacting global trade sentiment [3] China's Port Performance - In the first five months of 2025, China's major ports handled 7.34 billion tons of cargo, a year-on-year increase of 3.8%, with foreign trade throughput growing by 1.8% [4] - Container throughput reached 14 million TEUs, reflecting a 7.4% year-on-year increase, showcasing the resilience of China's foreign trade [4] - The rise in the BDI corresponds with the increase in container throughput at Chinese ports, indicating stable growth in foreign trade and the recovery of the industrial chain [4] Shipping Industry Developments - The 2025 Xinhua-Baltic International Shipping Center Development Index indicates that Shanghai ranks third globally among shipping centers, with other Chinese ports also improving their standings [4] - The adaptability and resilience of Chinese ports and foreign trade enterprises are highlighted as key factors in maintaining stable international trade amidst a complex global economic environment [5] - The evolution of international shipping centers is driven by the need to manage increasing trade volumes while addressing challenges and opportunities in a changing world [5]

Core Viewpoint - The article highlights the significance of China's Maritime Day, emphasizing its role in promoting maritime culture and the development of Shanghai as an international shipping center, with the theme "Green Navigation, Striving for New Heights" for 2025 [1][4]. Group 1: Event Overview - China's Maritime Day is one of the highest-level and most comprehensive maritime celebrations in the country, marking its 20th anniversary in 2025 and the 620th anniversary of Zheng He's voyages [1]. - The event commenced with a ceremonial launch on July 11, featuring a fleet of white sailboats on the Huangpu River, symbolizing Shanghai's aspirations as an international shipping hub [1][4]. Group 2: Activities and Initiatives - A series of public activities were organized, including boat exhibitions, sailing displays, and a maritime carnival, aimed at creating a shared maritime cultural experience for the public [6][20]. - The Shanghai Maritime Bureau and local shipping industry established a mechanism for the high-quality development of new maritime technologies, enhancing operational safety and efficiency at Shanghai Port [4][21]. Group 3: Educational and Cultural Engagement - Various cultural venues, such as the China Maritime Museum and the Maritime Post Office, offered free access to the public, promoting maritime knowledge and culture [21][25]. - The Shanghai Maritime Society conducted community outreach programs, including lectures and model ship competitions, to enhance public understanding of maritime science [31][34]. Group 4: Commemorative Activities - The China Maritime Museum launched a special exhibition commemorating Zheng He's voyages, utilizing advanced technology to recreate the historical journey [25]. - A special color postal stamp was issued to celebrate the 2025 Maritime Day, further promoting maritime heritage [29].

Core Insights - A major smuggling case involving Chinese goods worth €700 million has been uncovered by the European Public Prosecutor's Office (EPPO), marking one of the largest operations in EU history against such activities [1][5] - The operation, named "Calypso," spanned 14 countries and dismantled 101 locations, revealing a sophisticated network that exploited EU tax regulations [1][5] Summary by Sections Smuggling Operation Details - The operation led to the seizure of 480 containers filled with Chinese-made textiles, sports shoes, and electric vehicles, along with €5.8 million in cash and luxury properties in Spain [1] - The criminal group utilized various tactics to evade EU tax regulations, including undervaluing goods and using shell companies to disguise the true nature of their operations [1][5] Financial Impact - The group conducted 21,000 fraudulent transactions over ten years, evading €250 million in taxes on electric bicycles alone, with total VAT evasion reaching €450 million [5][6] - The fallout from the operation has severely impacted small and medium freight forwarding companies, with some facing port fees of up to €10,000 daily and risking bankruptcy [5][6] Regulatory Response - In response to the smuggling activities, the EU has implemented stringent new regulations, including mandatory GPS tracking for containers and a 15% punitive tariff on non-compliant goods [6] - The inspection rate at Greek ports has surged from 3.7% to 21.6%, and the customs clearance time for Chinese textiles has increased from 3 days to 15 days [5][6] Industry Adaptation - Companies that have maintained compliance are beginning to thrive, with some leveraging blockchain technology to enhance their supply chain transparency and efficiency [6] - European e-commerce platforms are now requiring original invoices and complete logistics trails for goods transported through Greek ports, leading to significant changes in procurement practices [6]

Core Points - The theme for this year's Maritime Day is "Green Navigation, Striving for New Heights" as it marks the 20th anniversary of China's Maritime Day and the 620th anniversary of Zheng He's voyages [1] - The event was officially launched in Shanghai, with a focus on enhancing the city's status as an international shipping center [1][5] Group 1: Event Highlights - The 2025 Xinhua-Baltic International Shipping Center Development Index indicates that Shanghai remains among the top three global shipping centers [5] - A series of public activities, including boat displays and maritime festivals, were organized to promote maritime culture and knowledge among citizens [8] - The Shanghai Maritime Bureau coordinated a ceremonial flag-raising and horn-blowing event to honor Maritime Day [12] Group 2: Cultural and Educational Initiatives - Various maritime cultural venues, including the China Maritime Museum, offered free admission to the public to enhance maritime knowledge [12] - The Shanghai Maritime University led the compilation of a navigation safety guide for the Yangtze River, contributing to the safe and efficient operation of Shanghai Port [5] - The Shanghai Shipping Association conducted community outreach programs, including lectures and model ship competitions, to promote maritime science [12][13]

Core Insights - The Chinese government aims to accelerate the development of new productive forces in the shipping sector, focusing on the application of new technologies such as artificial intelligence, IoT, 5G, and Beidou, while promoting smart ports, smart waterways, and intelligent vessels [1][6] - China has established itself as a global leader in maritime affairs, possessing the world's largest shipping fleet and port cluster, with international shipping volume accounting for nearly one-third of the global total [1][5] - The port economy in China's coastal cities is projected to reach a value of 6.7 trillion yuan in 2024, representing 13.6% of the total economic output of these cities, with a significant increase compared to 2023 [5] Shipping Volume and Performance - In 2024, waterway freight volume is expected to reach 9.81 billion tons, which is 1.64 times that of ten years ago, with a cargo turnover of 14 trillion ton-kilometers, reflecting an 8.8% year-on-year growth [2] - From January to May this year, the total cargo throughput at ports reached 7.34 billion tons, marking a 3.8% increase year-on-year, with container throughput growing by 7.4% [3] Green Shipping Initiatives - The government is committed to creating a green shipping ecosystem, enhancing the green shipping policy framework, and promoting the use of clean energy vessels, with major ports like Shanghai successfully implementing clean energy refueling operations [2][6] - The coverage of shore power at key specialized berths in major ports has exceeded 90%, with a 54% year-on-year increase in shore power usage by vessels in the Yangtze River Economic Belt [2] Future Directions - The future of the shipping industry will involve deeper integration of cutting-edge technologies such as AI, big data, and blockchain, aiming for intelligent shipping scheduling, automated port operations, and real-time logistics information [5][6] - The Ministry of Transport plans to enhance carbon emission monitoring standards and promote the development of new power technologies and clean energy refueling infrastructure [6]