Group 1 - The latest stock price of China COSCO Shipping Holdings is 15.79 yuan, an increase of 0.15 yuan from the previous trading day, with a trading volume of 1.174 billion yuan [1] - China COSCO Shipping Holdings operates a leading global container shipping fleet, providing international and domestic maritime container transportation services [1] - The company ranks first in the cash dividend yield among listed companies, with the total cash dividends for A-share listed companies in 2024 expected to reach 2.4 trillion yuan, a 9% increase from 2023 [1] - The average dividend yield of China COSCO Shipping Holdings over the past three years has been outstanding [1]

Core Insights - The maritime container transport volume from Asia to Europe increased by 8.7% year-on-year in the first quarter, reaching a historical high of 4.471 million TEUs, driven by a significant rise in shipments from the Greater China region, which grew by 11.2% [1][2] - The EU's imports from China showed strong growth in key categories, with electrical and AV equipment increasing by 30.8% and machinery by 29.2% in the first two months [1] - However, Northeast Asia's shipping volume decreased by 4.1%, while Southeast Asia saw a growth of 5.4% [2] Group 1 - The container transport volume from Asia to Europe reached 4.471 million TEUs in Q1, marking an 8.7% increase compared to the previous year [1] - The Greater China region accounted for nearly 80% of the total transport volume, with a notable increase of 11.2% [1] - The EU's imports from China in January and February showed significant growth in electrical equipment (30.8%) and machinery (29.2%) [1] Group 2 - Container shipping rates from Asia to Europe have declined, with Shanghai to Europe rates dropping by 56% from December 2024 to March 2025 due to an oversupply of container transport capacity [2] - The ongoing US-China tariff war may impact shipping volumes and rates to Europe, as Chinese companies seek to expand their market share in Europe amid slowing sales in the US [2] - The transport volume from Europe to Asia decreased by 6.0% in Q1, continuing a downward trend for seven consecutive months, attributed to declining demand in the Chinese real estate market [2]

Core Viewpoint - There is a perspective that China, facing long-term weak domestic demand, is strengthening its exports by lowering prices to increase export volumes [1][2]. Group 1: Import and Export Data - According to statistics from the Japan Maritime Center, the EU's imports from China are projected to increase by 11.2% in 2024 compared to the previous year, while the import value only rises by 0.1% [1][2]. - In January, the maritime container transport volume from Asia to Europe grew by 20.2%, reaching a record high of 1,750,838 TEUs (Twenty-foot Equivalent Units) [1]. - The Greater China region (including mainland China and Hong Kong) saw a significant increase of 23.8%, contributing to an overall growth where it accounted for 81.5% of the goods from Asia, marking the first time since 2013 that it exceeded 80% [1]. Group 2: Regional Growth and Shipping Rates - Southeast Asia experienced a growth of 10.1%, while Northeast Asia, including Japan, saw a modest increase of 1.4% [2]. - The transport volume to major ports in Northern Europe increased by 22.1%, with shipments to the Western Mediterranean rising by 20.5% and the Eastern Mediterranean by 13.8% [2]. - Despite strong demand for cargo transport, spot freight rates for container ships are on a downward trend, with the Shanghai Shipping Exchange reporting that the freight rate from Shanghai to Europe is $1,306 per 20-foot container, a decrease of 56% compared to the end of 2024 [2]. Group 3: New Ship Deliveries - The container shipping industry is facing a peak in new ship deliveries, which were ordered during the logistics disruptions caused by the COVID-19 pandemic [2]. - There is a belief that the supply of new ships is leading to an oversupply of capacity, particularly on long-distance European routes where larger vessels can be deployed [2].