Report Summary 1. Investment Rating - No investment rating for the industry is provided in the report. 2. Core Viewpoint - The escalation of the conflict between the US and Iran has become the core driver of the container shipping European line market. The risk of passage through the Strait of Hormuz has pushed up the industry's risk premium. The futures market has risen significantly due to emotional factors [5]. - The spot market shows a pattern of "strong expectation, weak reality". Although supported by increased detour costs and rising insurance premiums, it is currently in the traditional off - season, with weak demand and excess capacity pressure. The actual freight rates have not increased significantly in sync, and shipping companies' pricing strategies are divided [5]. - In the short term, the market is dominated by geopolitical sentiment. In the long - term, the progress of the conflict needs to be monitored. If the situation eases, prices will return to the supply - demand fundamentals after the risk premium fades. If the conflict persists, the shipping capacity structure may be continuously affected [5]. 3. Summary by Related Content Shipping Derivatives Data - **China Export Container Freight Rates**: The current values and changes of various container freight rate indices are presented. For example, the SCFI - US West index has a current value of 1333, a previous value of 1251, and a growth rate of 6.52%; the SCFI - US East index has a current value of 1857, a previous value of 1787, and a growth rate of 3.92%; the SCFI - Northwest Europe index has a current value of 2691, a previous value of 2524, and a growth rate of 6.62%. However, the SCFI - Mediterranean index has a current value of 1463, a previous value of 1572, and a decline rate of 0.95% [1]. Market News - Israel carried out air strikes on multiple targets in Iran. Iran launched ballistic missiles at all Gulf countries except Oman. The Houthi armed forces will resume attacks on shipping in the Red Sea corridor [3]. Market Condition - The main contract of the market hit the daily limit [4]. Strategy - The recommended strategy is to wait and see [7].