来源：智通财经网 德翔海运(02510)涨近5%，截至发稿，涨4.73%，报9.74港元，成交额5767.96万港元。 消息面上，2月11日，国际指数编制公司MSCI公布了其2026年2月的指数季度调整结果，本次调整将于2 月27日收盘后生效。MSCI全球小盘股指数于中国香港地区纳入德翔海运等股。兴业证券此前研报指， 公司2025下半年有望受益于1）IMO 2024新规加速老旧船拆解，中小船供给缺口扩大；2）产业转移进 一步加速，东南亚地区长期需求坚挺；3）旺季运价反弹。 ...

Core Insights - Hainan has experienced a significant increase in passenger traffic during the first Spring Festival travel season after the island's full customs closure, with a total of 2.7911 million travelers from February 2 to February 10, marking an 8.62% increase compared to 2025 [1] Group 1: Airport Operations - Hainan Airport has coordinated with over 10 airlines to add 600,000 seats for the Spring Festival travel period, with a total of more than 2,000 additional flights scheduled at Haikou Airport [2] - The proportion of wide-body aircraft at Sanya Airport has increased from an average of 8.5% to over 30% during this period, indicating a significant boost in capacity [2] - The "One Island, Three Airports" collaborative mechanism has been utilized to enhance travel flexibility, allowing eligible travelers to change their departure or destination airport once [2] Group 2: Passenger Trends - Predictions indicate that Hainan Airport will reach its peak inbound traffic on February 13, with the first wave of return traffic expected between February 21 and 23 [3] Group 3: Ferry Services - The Hainan Strait shipping company has reported a significant increase in demand for ferry tickets, leading to tight availability, primarily due to the surge in passenger and vehicle traffic during the Spring Festival [5] - It is anticipated that some small car ferry tickets will be released around the New Year, as the volume of outbound freight trucks decreases, freeing up space for passenger vehicles [5] Group 4: Ticket Purchasing Advice - Authorities recommend travelers purchase tickets through official channels and platforms in advance, prioritizing round-trip tickets on popular routes to mitigate price fluctuations [6] - Travelers are encouraged to utilize the complementary advantages of airports in Haikou, Sanya, and Qionghai, as well as the integrated transportation network for flexible travel options [6] - The use of standby ticketing features is advised for sold-out flights, with notifications sent via SMS upon successful booking [7]

FICC日报 | 2026-02-11 3月份涨价能否成功尚不明，主力合约短期走势震荡 市场分析 线上报价方面。 Gemini Cooperation：马士基上海-鹿特丹 WEEK7报价1270/2040，WEEK8 报价1210/1920，WEEK9报价 1200/1900，WEEK11报价1200/1900（其中上海-伦敦基本港WEEK11周报价涨至1320/2100）；HPL 2月上半月船期 报价1135/1835，2月下半月船期报价1135/1835，3月份船期报价1835/2935 。HPL发布3月份涨价函1900/3100 MSC+Premier Alliance：MSC 2月上半月价格1280/2140，2月下半月船期价格1280/2140；ONE 2月上半月船期报 价1290/2035，2月下半月船期报价1290/2035，3月上半月船期报价1620/2535；HMM上海-鹿特丹2月上半月船期报 价1233/2036，2月下半月船期1233/2036 ，3月份船期报价1783/3136.MSC发布3月份涨价函1800/3000. Ocean Alliance：CMA 上海-鹿特丹2月份上半月船 ...

那些急于通过的船舶而言，选择付费通行将是一个更具吸引力的选择。因此，这一构想不仅具备可行 性，而且在长期内也将为土耳其带来可观的经济收益。 然而，不同海峡之间的差异也极为明显。有的海峡由多个国家共同管辖，而有的则完全归属于一个国 家。以马六甲海峡为例，它位于马来半岛与苏门答腊岛之间，由新加坡、马来西亚和印度尼西亚三国共 同管理，海峡长而宽，各国并未提出收费要求。与此不同的是，土耳其海峡则完全由土耳其掌控，而且 极其狭窄，最窄处仅有708米。这样的海峡土耳其一直希望能够收取通行费用，然而世界各大国对此却 表示坚决反对，土耳其也未能如愿。 土耳其海峡，亦称黑海海峡，分为博斯普鲁斯海峡、马尔马拉海和达达尼尔海峡三个部分，是唯一连接 黑海与地中海的水道。自古以来，土耳其海峡就是兵家必争之地，战略位置至关重要。沙俄曾渴望将其 纳入自己的版图，而希腊也曾力图从土耳其手中夺回该海峡，结果土耳其依靠巧妙的外交手段最终成功 保住了这条战略水道。 然而，尽管土耳其成功保住了海峡的控制权，但这并不意味着它能单方面决定 海峡的通行方式。1936年，世界各国在瑞士蒙特勒召开会议，商讨关于土耳其海峡的通行问题。土耳其 代表坚持要求收取过 ...

| | 运价指数 | 上海出口集装箱运价 综合指数SCFI | 中国出口集装箱运价 指数CCFI | SCFI-美西 | SCFIS-美西 | SCFI-美东 | SCFI-西北欧 | | --- | --- | --- | --- | --- | --- | --- | --- | | 業 | 现值 | 1267 | 1122 | 1801 | 1155 | 2530 | 1403 | | | 前値 | 1317 | 1176 | 1867 | 1101 | 2605 | 1418 | | 运 | 涨跌幅 | -3.81% | -4.55% | -3.54% | 4.90% | -2.88% | -1.06% | | 발 | | | | | | | | | JE | | SCFIS-西北欧 | SCFI-地中海 | | | | | | 数 | | | | | | | | | | 现值 | 1657 | 2291 | | | | | | | 前值 | 1792 | 2424 | | | | | | | 涨跌幅 | -7.53% | -5.49% | | | | | 投资咨询业务资格：证监许可【2012】31号 ...

金融期货早评 【风险提示】海外经济数据超预期、特朗普政策超预期 重要声明：以上内容及观点仅供参考，不构成任何投资建议 宏观：人民币汇率升至 6.90 【市场资讯】1）央行发布 2025 年第四季度中国货币政策执行报告：继续实施好适度宽松 的货币政策。2）芝商所：计划于今年夏季开始推出个股期货。3）日本政府将于 2 月 18 日召开特别国会，举行首相指名选举。4）ADP 报告：截至 1 月 24 日的四周内，美国私营 部门就业人数平均每周增长 6500 人。5）美国 12 月零售销售月率录得 0%，低于预测中值 0.4%，前值 0.60%。6）美联储——①哈玛克：经济前景向好，通胀仍然偏高，今年无迫切 降息必要。②洛根：对当前利率政策的效果持"谨慎乐观"态度，更为担忧通胀问题。 【核心研判与传导逻辑】当前，国内宏观政策正以协同发力为核心导向，为经济发展保驾 护航。货币政策锚定宏观政策一致性，与财政政策形成深度协同，具体通过三重路径推进： 一是公开市场操作支持政府债券发行，二是"再贷款+财政贴息"优化资源配置，三是担保增 信分担风险成本，提升金融机构对企业的融资支持力度。同时，央行在货币政策执行报告 中重提引导短 ...

近日，《上海市加快国际 航运中心建设"十五五"规划（公示稿）》公开征求意见。其中提到，推进融 通共链，构建新型航运产业体系。建设绿色燃料加注中心和交易中心，加快建设内外并重、多元并举、 成本可控的航运绿色燃料供应体系，探索建设航运绿色燃料现货交易市场，积极参与我国自主的国际航 运可持续燃料认证体系建设。推动船舶装备低碳化、智能化转型，提升船海修造业智能化水平。推动 港口装备制造业发展，拓展" 一带一路"等多元化市场，加强国际标准规则输出。打造高水平邮轮运营 中心，培育具有市场竞争力的本土邮轮运营企业。建设亚太邮轮旅游枢纽港，鼓励设置层次丰富、特色 鲜明的邮轮航线体系。 ...

Core Viewpoint - The implementation plan for supporting the construction of an international green fuel refueling and trading center in Shanghai marks a significant step in promoting the green and low-carbon transformation of the global shipping industry, enhancing Shanghai's position as a leading international shipping center [1][3]. Group 1: Implementation Plan Overview - The plan aims to establish Shanghai as an international green fuel refueling and trading center by 2030, with LNG refueling capacity exceeding one million cubic meters and methanol and biofuels reaching one million tons [3]. - The plan emphasizes a coordinated development system for LNG, green methanol, and biofuels, transitioning from a single fuel supply to a diversified green service model [3]. - By 2025, Shanghai's bonded LNG refueling volume is projected to reach 712,000 cubic meters, a 54% increase year-on-year, while domestic green methanol refueling is expected to reach 10,000 tons [3]. Group 2: Challenges and Support Mechanisms - The construction of the green fuel center involves multiple stages, including production, transportation, storage, and trading, which presents various management and regulatory challenges [4]. - The plan proposes a national strategy and local positioning mechanism to facilitate collaboration between ten ministries and local authorities, enhancing Shanghai's role as a global hub for green shipping energy [4]. - The plan includes establishing cross-provincial cooperation mechanisms for green fuel supply and exploring "night refueling" operations to improve efficiency [5]. Group 3: Certification and Trading Systems - The plan supports the development of a green fuel certification service platform under the national sustainable certification framework, aiming for mutual recognition with international standards [8]. - Shanghai aims to create a dual-driven model of "refueling + trading," leveraging the Shanghai Shipping Exchange and Shanghai Futures Exchange to enhance the green fuel trading market [8][9]. - The goal is to establish a transparent trading market that attracts global investment and enhances Shanghai's resource allocation capabilities [9]. Group 4: Local Production and Future Projects - A 100,000-ton green methanol project in Shanghai is set to commence operations by the end of 2025, utilizing biogas from waste resources, marking a significant local production capacity [11]. - New projects are being planned to increase green methanol production to 200,000 to 300,000 tons annually by 2029, addressing the future demand for green fuels [12]. - The plan allows for the development of green fuel projects beyond traditional chemical parks, broadening the supply channels for green energy [12].

日度报告——综合晨报 美联储再度强调独立性，中国央行继续适度 宽松 [T报ab告le_日R期an：k] 2026-02-11 宏观策略（股指期货） 《求是》发文加快培育未来产业 A 股缩量窄幅震荡，科技股依然领先。港股近期止跌回升，或迎 来右侧配置机会。总体看国内权益风险可控，春季躁动可期。 宏观策略（黄金） 美联储洛根：货币政策独立性是根本 综 金价震荡收跌，白银走弱。节前资金逐渐减仓流出贵金属，美 联储官员讲话捍卫独立性，叠加货币政策短期步入观望阶段， 缺乏增量刺激。美国 1 月零售销售数据意外走弱。 合 宏观策略（国债期货） 晨 央行发布 2025 年第四季度中国货币政策执行报告 报 市场消息面较为平静，股市波动不大，资金面略显收敛，国债 期货窄幅震荡。短期市场存在上涨动力，不过追涨性价比不高， 待市场上涨动力趋缓后关注做空机会。 黑色金属（螺纹钢/热轧卷板） 16 家车企公布 1 月产销数据，12 家销量同比增长 钢价延续弱势震荡，节前基本面压力加大，各品种累库压力上 升，加上订单情况一般，市场情绪疲弱，均对钢价形成压制。 但市场谨慎情绪也降低了节后风险，关注是否有低估机会。 农产品（棉花） 棉纱产销 ...

来源：市场资讯 希腊船舶经纪公司Xclusiv的数据分析印证，高企的现货运价显著刺激了二手船买卖市场。该公司在近 期报告中指出："仅运价水平就足以让2026年1月显得不同寻常，而船舶买卖（S&P）市场的活跃度证实 了这一点。" 报告显示，2026年1月成为过去五年来最活跃的油轮交易月份，共计有87艘油轮易手，远超去年同期的 20艘。其中，VLCC是最活跃的船型，交易量达37艘。 据船舶经纪人消息，特盈海运已将其旗下唯一一艘船舶——29.72万载重吨的"Asian Lion"号（建于2009 年）以6000万美元的价格出售给希腊买家。该公司于2025年3月才从越南Asia Pacific Shipping公司以 4900万美元购入该船，当时船名为"交响乐"号（Symphony）。此次转手净赚约1100万美元。 面对船价已处高位的现状，为何交易反而加速？Xclusiv在一周前的报告中提出了这个问题，并给出解 读："当其他选择更不理想时，高昂的二手船价格并不会阻碍交易。"报告进一步解释称："新造船的置 换成本依然高企，船厂船位仍然紧张。许多船东因此更倾向于立即购入已在运营的船舶来锁定市场机 会，而不愿承受新造船漫长 ...