The futures contract price of Container Index (European Line) rose sharply on Thursday, and the main contract EC2406 closed up 6%.Aseanseagames2022.97%, an all-time high in intraday trading. The latest SCFIS European settlement freight index is 2147.86 points, down 24.28 points from last week and 1.1 per cent from the previous week. Iran launches hordes of attacks on IsraelAseanseagames2022Iran's explosive drones and missiles, the first direct attack on Israeli territory in history, could escalate the situation in the Middle East and boost freight rates in the short term, while the United States has pledged firm support for Israel. Recently, Maersk announced an increase of $1975 for GPI:20-foot containers from Asia to Europe and $3800 for 40-foot containers, effective on April 29th. Dafei also announced an increase in FAK rates for Asia-Nordic routes: $2200 for 20GP and $4000 for 40GP/HC/ refrigerated containers, effective on May 1, supporting futures prices. From the perspective of medium-and long-term fundamentals, the supply pressure of the shipping industry remains unabated, while the European economy lacks resilience, and high inflation and high interest rates will continue to drag down the recovery of the euro zone economy. From the exchange rate point of view, the latest data show that the Fed has a strong economic resilience, which makes the expectation of interest rate cut delayed again, and the possibility of a rapid decline in the exchange rate of the US dollar is unlikely, which has a certain support for container rates. To sum up, European freight rates are still boosted by the Red Sea factor in the short term, while shipping companies are also supported by price increases, while the fundamental situation has not changed, making futures prices fluctuating greatly and trading more difficult. Investors are advised to be cautious and pay attention to operation rhythm and risk control.
Researcher: Cai Yuehui
Futures qualification number: F0251444
Futures investment consulting certificate number: 20013101
Assistant researcher: Li Qiurong
Futures qualification number: F03101823
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