Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints of the Report - The main contract is in a weak state, and the far - month contracts are relatively strong, indicating that the main contract may be in the bottom - building process. 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 [2][4]. - In the short term, risk - takers are advised to try to build a position when the EC2512 contract is below 1500. In the long term, it is recommended to take profits when the contracts rise and wait for the subsequent direction after the callback stabilizes. For the arbitrage strategy, it is recommended to wait and see or try with a light position [5]. 3. Summary by Related Content 3.1 Freight Index - On October 13, the Shanghai Export Container Settlement Freight Index (SCFIS) for the European route was 1031.8 points, down 1.4% from the previous period; the SCFIS for the US West route was 862.48 points, down 1.6% from the previous period. On October 10, the Shanghai Export Container Freight Index (SCFI) was 1160.42 points, up 45.90 points from the previous period. The SCFI European line price was 1068 USD/TEU, up 9.9% from the previous period; the SCFI US West route was 1468 USD/FEU, up 10.76% from the previous period [3]. - On October 10, the Ningbo Export Container Freight Index (NCFI) (composite index) was 818.97 points, up 11.50% from the previous period; the NCFI (European route) was 698.67 points, up 11.39% from the previous period; the NCFI (US West route) was 844.43 points, down 0.34% from the previous period. The China Export Container Freight Index (CCFI) (composite index) was 1014.78 points, down 6.7% from the previous period; the CCFI (European route) was 1287.15 points, down 8.2% from the previous period; the CCFI (US West route) was 777.77 points, down 5.7% from the previous period [3]. 3.2 Economic Data - The preliminary value of the Eurozone's manufacturing PMI in September was 49.5, falling below the boom - bust line, lower than analysts' expectations and the previous value of 50.7. The preliminary value of the service industry PMI rose from 50.5 to 51.4, exceeding expectations of 50.5. The preliminary value of the Eurozone's composite PMI in September was 51.2, exceeding analysts' expectations. The Eurozone's Sentix investor confidence index in September was - 9.2, with an expected value of - 2 and a previous value of - 3.7 [3]. - In August, China's manufacturing PMI was 49.4%, up 0.1 percentage points from the previous month, and the manufacturing prosperity level improved. The composite PMI output index was 50.5%, up 0.3 percentage points from the previous month, indicating that the overall expansion of Chinese enterprises' production and business activities accelerated [4]. - The preliminary value of the US S&P Global manufacturing PMI in September was 52 (the final value in August was 53); the preliminary value of the service industry PMI was 53.9 (the final value in August was 54.5); the preliminary value of the composite PMI was 53.6 (the final value in August was 54.6) [4]. 3.3 Market Conditions - On October 10, the main contract 2512 closed at 1570.0, down 3.04%, with a trading volume of 31,500 lots and an open interest of 28,100 lots, an increase of 3834 lots from the previous day [4]. - The situation in the Middle East is improving, but the overall atmosphere is still bearish, and the market is under pressure to decline [4]. 3.4 Policy Adjustments - The daily limit and circuit - breaker for contracts from 2508 to 2606 are adjusted to 18%. - The margin of the company for contracts from 2508 to 2606 is adjusted to 28%. - The daily opening limit for all contracts from 2508 to 2606 is 100 lots [5]. 3.5 Geopolitical Situation - On October 10, there were reports that Israel's military would withdraw to the "pre - withdrawal line" area soon, and the cease - fire agreement between Israel and Hamas had taken effect. However, there were also reports that Israeli military attacks on multiple areas in Gaza continued [6].

中新网上海10月17日电 (谢梦圆)17日，2025北外滩国际航运论坛新闻发布会在沪举行。记者从会上获 悉，本次论坛将于10月19日至21日在上海市虹口区北外滩的世界会客厅举行，主题为"协作共促全球航 运可持续发展"。 嘉宾覆盖全球50余个国家及地区 2025北外滩国际航运论坛将在沪举行 据悉，"2025北外滩国际航运论坛"由中国交通运输部、上海市人民政府共同主办，上海市交通委员会、 虹口区人民政府、中远海运集团、上海国际港务集团、上海机场集团、中国东方航空集团、中国船级社 等承办。(完) 来源：中国新闻网 编辑：王永乐 广告等商务合作，请点击这里 本文为转载内容，授权事宜请联系原著作权人 10月17日，2025北外滩国际航运论坛新闻发布会在沪举行。谢梦圆摄 本届论坛包括开幕式暨国际绿色航运主论坛、"国际海运论坛"和"国际航空论坛"，以及海上交通安全、 数字与智能、司法与仲裁、金融与保险4个分论坛，并同期举行10余个特色活动。 其中，开幕式暨国际绿色航运主论坛将邀请权威国际组织负责人等出席并发言，并发布系列重磅成果。 今年论坛规模将达4000人次，嘉宾覆盖欧洲、美洲、亚洲、大洋洲、非洲等全球50余个国家及地区 ...

Report Industry Investment Rating - The 12 - contract is expected to be volatile and bullish, and there is no arbitrage strategy currently [9] Core View - The shipping market is affected by multiple factors such as geopolitics, supply - demand relationship, and contract price trends. Pay attention to the actual implementation of price increase letters in November and December, and the price adjustment of 10 - month contracts. The 12 - month contract focuses on the rhythm of price increase, and the 2026 February contract may have a large expected difference [1][7] Summary by Directory 1. Futures Price - As of October 16, 2025, the total open interest of all contracts of the container shipping index European line futures was 61,878 lots, and the single - day trading volume was 38,960 lots. The closing prices of EC2602, EC2604, EC2606, EC2608, EC2510, and EC2512 contracts were 1429.20, 1119.90, 1281.20, 1410.80, 1100.90, and 1651.10 respectively [8] 2. Spot Price - Different shipping alliances have different price quotes for the Shanghai - Rotterdam route. For example, in the Gemini Cooperation, Maersk's 43 - week quote for Shanghai - Rotterdam was 1100/1840, and the 44 - week quote was 1194/2010; HPL's price in the second half of October was 1185/1935, and the price in the first half of November was 1535/2535, with a quote of 1735/2835 for the second - half - month shipping schedule in November. Many shipping companies have issued price increase letters [1] 3. Container Ship Capacity Supply - From October to December 2025, the average weekly capacity from China to European base ports showed different trends. In October, the average weekly capacity in the remaining three weeks was 276,100 TEU. In November, the monthly average weekly capacity was 302,800 TEU, and in December, it was 287,700 TEU. There were 4 blank sailings and 3 TBNs in November, and 7 TBNs in December [3] 4. Supply Chain - There are geopolitical factors affecting the supply chain. For example, Israeli officials denied the start of the second - stage negotiations on the Gaza cease - fire, and the Houthi armed forces confirmed the death of their armed forces chief of staff. Also, the Chinese Ministry of Commerce imposed sanctions on 5 US - related subsidiaries of Hanwha Ocean Co., Ltd., and it is not yet known whether it will affect HMM's operations [3][4] 5. Demand and European Economy - The report does not provide direct information on demand and the European economy, but the shipping market is closely related to European economic conditions. The shipping companies' price adjustment strategies are related to the expected demand and economic situation in the future, such as preparing for the next - year long - term contract negotiations [7]

Core Insights - The 2025 North Bund International Shipping Forum will be held from October 19 to 21 in Shanghai, focusing on "Collaborative Promotion of Global Shipping Sustainable Development" [1] - The forum will feature over 50 new industry achievements, the highest in its history, covering areas such as green shipping, network layout, technical standards, service innovation, and international cooperation [2] - Shanghai's international shipping center has entered a new phase of "comprehensive construction," maintaining its position among the top three globally [1][3] Forum Details - The forum will include a main opening ceremony and international green shipping forum, as well as sub-forums on maritime safety, digital and intelligent shipping, and financial and insurance topics [1] - It is expected to attract around 4,000 participants from over 50 countries and regions, with a significant international presence among speakers [2] Industry Achievements - Shanghai's container throughput has ranked first globally for 15 consecutive years, with a projected throughput of 51.506 million standard containers in 2024 [3] - The city has also seen significant advancements in air cargo, with its airport's cargo throughput ranking second in the world [3] Shipping Service Enhancements - Shanghai has established a multi-level, full-chain temporary arbitration system for maritime arbitration, marking a significant development in the field [4] - The launch of the first international shipping index futures in China has positioned Shanghai as a leader in the global shipping derivatives market [4] Green Shipping Initiatives - Shanghai has enhanced its LNG and methanol bunkering capabilities, becoming one of the few ports globally to offer both services [5] - The port has seen a 72% year-on-year increase in LNG bunkering volume, with methanol bunkering entering a normalized operational phase [5]

Core Insights - The 2025 North Bund International Shipping Forum will be held from October 19 to 21 in Shanghai, focusing on "Collaborative Promotion of Global Shipping Sustainable Development" [1] - The forum will feature a main opening ceremony and international green shipping forum, along with four sub-forums covering maritime safety, digital and intelligent shipping, legal and arbitration, and finance and insurance, with over 10 special events planned [1][3] - This year's forum is expected to attract 4,000 participants from around 50 countries and regions, marking a significant increase in scale [1][3] Industry Developments - The forum plans to release over 50 new industry achievements, the highest in its history, covering areas such as green shipping, network layout, technical standards, service innovation, and international cooperation [3] - Shanghai's international shipping center has transitioned from "basically completed" to "fully completed" during the 14th Five-Year Plan, maintaining a top-three global position in comprehensive strength [1][5] - China's maritime connectivity has ranked first globally for 19 consecutive years, with an expected international shipping volume of 31.3% of the global total in 2024 [1] Shipping Service Enhancements - Shanghai's container throughput has ranked first globally for 15 consecutive years, with a projected throughput of 51.506 million TEUs in 2024, making it the first port to exceed 50 million TEUs [5] - The Shanghai airport's cargo and mail throughput is expected to rank second globally, with regular flights to 48 countries and 291 cargo and passenger routes in 2024 [5] - The establishment of a multi-level, full-chain temporary arbitration system in maritime arbitration has positioned Shanghai as a leader in this field [6] Green and Smart Shipping Initiatives - Shanghai has enhanced its LNG and methanol bunkering capabilities, becoming one of the few ports globally to offer both services [7] - As of September 2025, Shanghai port's LNG bunkering volume reached 560,000 m³, a 72% increase year-on-year, while methanol bunkering has entered a normalized operational phase [7] - The establishment of the Shanghai International Shipping Carbon Footprint Labeling Association aims to build a certification system for sustainable fuels in international shipping [7]

Core Viewpoint - The 2025 North Bund International Shipping Forum, themed "Collaborative Promotion of Global Shipping Sustainable Development," will take place from October 19 to 21 in Shanghai, aiming to enhance international cooperation and innovation in the shipping industry [1][4]. Group 1: Forum Overview - The forum will feature a main opening ceremony and international green shipping forum, along with four sub-forums focusing on maritime safety, digital intelligence, legal arbitration, and finance and insurance, with over 10 special events planned [1][4]. - This year's forum is expected to attract 4,000 participants from around 50 countries and regions, marking a significant increase in scale [1][4]. Group 2: Industry Achievements - Shanghai's international shipping center has transitioned from "basically completed" to "fully completed" during the 14th Five-Year Plan, maintaining a top-three global position in comprehensive strength [1][6]. - China's maritime connectivity has ranked first globally for 19 consecutive years, with an anticipated 31.3% share of global shipping volume in 2024 [1][6]. Group 3: Industry Innovations - The forum plans to release over 50 new industry achievements, the highest in its history, covering areas such as green shipping, network layout, technical standards, service innovation, and international cooperation [4]. - Shanghai has established itself as a leader in green shipping, with LNG and methanol bunkering capabilities, and has initiated the construction of a green shipping corridor [8]. Group 4: Shipping Service Strength - Shanghai's container throughput has ranked first globally for 15 consecutive years, with a projected 51.5 million TEUs in 2024, making it the first port to surpass 50 million TEUs [6][7]. - The city is enhancing its maritime arbitration and financial services, with significant developments in international commercial arbitration and the launch of the first international shipping index futures in China [7][8].

Core Viewpoint - The Chinese shipping industry has demonstrated strong resilience and vitality over the past year, achieving new results in high-quality development amidst complex environments [3]. Shipping Economic Performance - The maritime connectivity of China has maintained the world's highest ranking for 19 consecutive years, with the international shipping volume expected to account for 31.3% of global shipping volume in 2024. The port cargo throughput and container throughput have ranked first globally for several years [4]. - In the first eight months of this year, the national waterway freight volume reached 6.56 billion tons, a year-on-year increase of 3.8%. The total cargo throughput at ports was 12.03 billion tons, up 4.4%, and container throughput was approximately 23 million TEUs, increasing by 6.3% [4]. Shipping Infrastructure Development - Major waterway infrastructure projects are advancing, with the construction progress of the Xiaoyangshan North Container Terminal exceeding 50% and the Pinglu Canal over 80% [5]. - In the first eight months, national waterway construction investment reached 143.27 billion yuan, a year-on-year increase of 3.6%, providing strong support for domestic demand expansion and stable growth [5]. Smart Port Construction - China has built 60 automated terminals, leading global smart port construction. The national electronic navigation chart has surpassed 10,000 kilometers in published mileage [7]. - The use of shore power for vessels has become normalized, with annual usage expected to exceed 200 million kilowatt-hours [7]. Regulatory and Policy Framework - The revision of the "International Shipping Regulations" provides a solid legal guarantee for national maritime safety and development. A comprehensive policy system for high-quality inland waterway shipping development has been established [8]. International Cooperation - China has signed maritime agreements with Kuwait and has reached 70 countries and regions for bilateral and multilateral maritime agreements. The Shanghai International Shipping Center ranks among the top three globally [9]. Shanghai International Shipping Center Development - The Shanghai International Shipping Center has transitioned from "basically completed" to "fully completed" during the 14th Five-Year Plan, maintaining a top-three global ranking [10]. Port and Airport Development - Shanghai Port's container throughput is expected to reach 51.506 million TEUs in 2024, maintaining its position as the world's largest port for 15 consecutive years [12]. - In the first nine months, Shanghai's airport handled 1 billion passengers and 3.2869 million tons of cargo, with respective year-on-year growth of 8.04% and 6.72% [12]. Cruise Port Development - The first domestically produced large cruise ship, "Aida·Magic City," will commence commercial operations in January 2024. In the first nine months, Shanghai's cruise port received 225 international cruise calls, with passenger throughput increasing by nearly 45% [13]. Shipping Service Enhancement - Shanghai has established a multi-level, full-chain temporary arbitration system for maritime disputes, filling a domestic gap. The first foreign-related maritime temporary arbitration case was adjudicated in Shanghai in August 2024 [14]. Green and Smart Shipping Transition - Shanghai Port's LNG refueling capacity is increasing, and it has become one of the few ports globally capable of both LNG and methanol refueling. The Shanghai International Shipping Carbon Footprint Labeling Association has been established [15]. - The Yangshan Deepwater Port's fully automated terminal is now operational, and a digital trade platform has been launched [15][16]. 2025 North Bund International Shipping Forum - The forum, co-hosted by the Ministry of Transport and the Shanghai Municipal Government, will take place from October 19 to 21, 2025, focusing on global shipping sustainable development [17][19]. - The forum will include various sub-forums and activities, with an expected attendance of 4,000 participants from over 50 countries and regions [19].

Core Viewpoint - Zhonggu Logistics has shown a mixed performance in stock price and financial results, with a notable increase in net profit despite a decline in revenue [1][2]. Financial Performance - As of June 30, 2025, Zhonggu Logistics reported a revenue of 5.338 billion yuan, a year-on-year decrease of 6.99% [1]. - The net profit attributable to shareholders was 1.072 billion yuan, reflecting a year-on-year growth of 41.59% [1]. Stock Performance - The stock price of Zhonggu Logistics increased by 26.22% year-to-date, but has seen a slight decline of 0.55% over the last five trading days and 2.70% over the last twenty days [1]. - The stock was trading at 10.83 yuan per share with a market capitalization of 22.744 billion yuan as of October 17 [1]. Shareholder Information - The number of shareholders increased by 32.52% to 27,400 as of June 30, 2025, while the average number of circulating shares per person decreased by 24.54% to 76,636 shares [1]. - Major shareholders include Huatai-PB SSE Dividend ETF and Guotai Junan Securities, with notable changes in their holdings [2]. Dividend Distribution - Zhonggu Logistics has distributed a total of 8.127 billion yuan in dividends since its A-share listing, with 4.386 billion yuan distributed over the past three years [2]. Market Position - The company operates in the container logistics service sector and is classified under the transportation and shipping industry [1]. - It is associated with several market concepts, including cold chain logistics and high dividend yield [1].

Core Viewpoint - The article highlights the vibrant openness and international characteristics of Hainan Free Trade Port through the exploration of three key areas: Yangpu International Container Terminal, Hainan University of Applied Sciences, and Boao Lecheng International Medical Tourism Pilot Zone [2][3][6]. Group 1: Yangpu International Container Terminal - Yangpu International Container Terminal is experiencing significant growth, with a current capacity to accommodate the world's largest container ships and plans for expansion to increase its annual throughput capacity to over 5 million TEUs [3][4]. - The terminal has established 31 foreign trade routes, 15 domestic trade routes, and 11 combined routes, covering over 20 countries and regions globally, indicating its strategic importance in international shipping [4]. Group 2: Hainan University of Applied Sciences - Hainan University of Applied Sciences is the first independent German public university in China, showcasing a unique educational model that integrates practical training with academic learning in an international environment [5]. - The university symbolizes the blending of educational resources and talent aspirations between China and Germany, reflecting Hainan's commitment to educational innovation and openness [5]. Group 3: Boao Lecheng International Medical Tourism Pilot Zone - Boao Lecheng is positioned as a hub for medical innovation, featuring 810 innovative products from 80 manufacturers across 16 countries, with many products being showcased for the first time in China [6]. - The zone aims to synchronize Chinese medical products with international standards, facilitating faster access to advanced healthcare products for Chinese citizens, thus promoting the region as a model for medical innovation [6].

为充分发挥新船运输效能，海峡股份已制定后续适配性改造与修理计划，改造内容将围绕船舶结构 优化、设备更新升级、安全性能提升三大核心展开，包括调整船舶载货区域布局以适配新能源车辆装载 特性，升级船舶消防与监控设备，强化安全管控更新导航系统，提升航行效率等，全面提升船舶的专业 性与可靠性。改造完成后这两艘新船将与现有"绿源一号""绿源二号"轮组建专业化新能源车辆运输专 班，形成"四船联动"的运输格局。 这一系列举措不仅将强化琼州海峡运输服务整体保障能力，更将为海南自由贸易港建设筑牢交通物 流支撑，为自贸港长远发展提供有力的运输服务保障。 据了解，新增的2艘平板货船将重点服务于新能源车辆运输专班，助力解决新能源车辆跨海峡运输 的运力保障问题，确保新能源车辆通过琼州海峡的运输通道持续畅通。 海南日报讯(海南日报全媒体记者 郭萃)近日，海南海峡航运股份有限公司顺利完成两艘平板货船 交接工作，此次船舶交接标志着琼州海峡海口至海安航线运力资源进一步扩充，航线运输能力得到显著 增强，将为新能源车辆跨海峡运输提供更坚实的运力支撑。 ...