Report Information - Report Type: Daily Report on Container Shipping Index [18] - Date: July 16, 2025 [2] - Research Team: Macro Financial Research Team [4] - Researchers: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] Industry Investment Rating - No industry investment rating is provided in the report. Core Viewpoints - The price increase in July was better than expected, and the SCFIS settlement index rebounded above 2400 points. Major airlines remained stable, possibly supported by good cargo demand. The 08 contract was still at a discount to the spot index and had some room for repair. For the traditional off - season in October, short - selling opportunities and 08 - 10 positive spread arbitrage opportunities at low prices should be focused on [8]. Summary by Directory 1. Market Review and Operation Suggestions - **Spot Market**: The price increase in July was better than expected. The SCFIS settlement index rose above 2400 points. Maersk's mid - July quotes were slightly higher than the first half of the month, and other airlines' quotes converged to $3300 - 3500. In August, only a few airlines had reported freight rates. HPL continued to use the late - July rates, and CMA CGM increased rates by $800 compared to late July [8]. - **Operation Suggestions**: Referring to historical patterns, the peak season usually reached its high in the third week of July, and freight rates would return to early - July levels by late August. The 08 contract was at a discount to the spot index and had room for repair. For the traditional off - season in October, short - selling opportunities and 08 - 10 positive spread arbitrage opportunities at low prices should be focused on [8]. 2. Industry News - **Overall Market**: From July 7 - 11, the China export container shipping market was generally stable. The comprehensive index decreased slightly. Different routes had different price trends due to supply - demand differences [9]. - **European Route**: The eurozone's July SENTIX investor confidence index rose to 4.5, indicating stable economic recovery. However, the EU - US tariff negotiation had no clear result, and the market faced uncertainties. Transport demand was stable, and market freight rates were flat. On July 11, the freight rate from Shanghai Port to European basic ports was $2099/TEU, down 0.1% [9]. - **Mediterranean Route**: The supply - demand situation was weaker than the European route, and the spot booking price decreased slightly. On July 11, the freight rate from Shanghai Port to Mediterranean basic ports was $2667/TEU, down 7.0% [9]. - **North American Route**: The "tariff war" was a focus. Trump extended the "reciprocal tariff" suspension period to August 1. The US set new tariff rates and planned to impose a 50% tariff on copper. Transport demand was stable, and market freight rates rebounded. On July 11, the freight rates from Shanghai Port to US West and East basic ports were $2194/FEU and $4172/FEU, up 5.0% and 1.2% respectively [9][10]. - **EU - US Trade Negotiation**: The US and the EU were trying to reach a temporary trade agreement, but automobile and agricultural product tariffs were key issues. Any agreement might be overturned by Trump. The US imposed 50% tariffs on EU steel and aluminum products, 25% on automobiles, and 10% on other goods. The EU planned counter - measures, with the scale adjusted from 950 billion euros to 720 billion euros [10]. - **Trump's Tariff Plan**: Trump planned to impose a 15% or 20% unified tariff on almost all trading partners that had not been taxed [10]. - **Yemen Houthi Rebels**: The Houthi rebels in Yemen would continue to ban Israeli - related ships from passing through the Red Sea and other areas as long as Israel continued its aggression and blockade of Gaza [10]. 3. Data Overview 3.1 Container Shipping Spot Prices | Route | July 14, 2025 | July 7, 2025 | Change | Change Rate | | --- | --- | --- | --- | --- | | SCFIS: European Route (Basic Ports) | 2421.94 | 2258.04 | 163.9 | 7.3% | | SCFIS: US West Route (Basic Ports) | 1266.59 | 1557.77 | - 291.18 | - 18.7% | [12] 3.2 Container Shipping Index (European Line) Futures Market - The trading data of container shipping European line futures on July 15 showed that different contracts had different price increases, with EC2510 and EC2512 having relatively large increases of 15.38% and 16.06% respectively [6]. 3.3 Shipping - Related Data Charts - The report provided charts on global container shipping capacity, global container ship orders, Shanghai - European basic port freight rates, and Shanghai - Rotterdam spot freight rates, with data sources from Wind and the Research and Development Department of Jianxin Futures [17][20]

1. Report Overview - Report Title: "Container Shipping Index Daily Report" [1] - Date: May 28, 2025 [2] - Research Team: Macro Financial Team [4] - Researchers: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] 2. Core Viewpoints - Spot prices changed little, and the index decline may be due to the cooling of the rush - shipping expectation on the US route. Shipping companies have a willingness to support prices in June. The Maersk's online large - container quote on the European route exceeded market expectations, while most other shipping companies' quotes remained stable. The US line trade data declined, but the export peak - season rush shipping may not be falsified due to the time - lag effect of the Sino - US trade friction easing on May 12. The June contract should follow the delivery logic, and if the price increase is verified, it may have a small upward space. The far - month 08 and 10 contracts are mainly affected by the expectation of the US route rush shipping, and their price centers may rise if the June price is strong [8]. 3. Section Summaries 3.1行情回顾与操作建议 (Market Review and Operation Suggestions) - Spot prices were stable, and the index decline was related to the US route. Shipping companies' price - support intention in June was obvious. The 6 - month contract was based on delivery logic, and the far - month contracts were influenced by the US route rush - shipping expectation [8]. 3.2行业要闻 (Industry News) - From May 19th to 23rd, the China export container shipping market improved, with most long - haul routes' freight rates rising. In April, the industrial added - value of large - scale industries increased by 6.1% year - on - year. On May 23rd, the Shanghai Export Containerized Freight Index rose by 7.2%. In the European route, the eurozone's economic recovery faced challenges, but the freight rate increased by 14.1%. The Mediterranean route's freight rate rose by 11.8%. The North American route was supported by Sino - US cooperation, and the freight rates to the US West and East increased by 6.0% and 5.3% respectively. The SCFI index rose for three consecutive weeks. Shipping companies planned to increase freight rates on the US and European routes in June. The EU's new policy on personal direct - mail parcels may impact the European small - package market [9][10]. 3.3数据概览 (Data Overview) 3.3.1集运现货价格 (Container Shipping Spot Prices) - From May 19th to May 26th, the SCFIS for the European route (basic ports) decreased by 1.4%, while that for the US West route (basic ports) increased by 18.9% [12]. 3.3.2集运指数（欧线）期货行情 (Container Shipping Index (European Route) Futures Quotes) - Provided the trading data of EC2506, EC2508, EC2510, EC2512, EC2602, and EC2604 contracts on May 27th, including opening price, closing price, settlement price, price change, and trading volume [6]. 3.3.3航运相关数据走势图 (Shipping - related Data Charts) - Included charts of Shanghai Export Containerized Freight Index, container shipping futures contracts, global container capacity, container ship orders, and shipping freight rates [13][16][17][21]