According to the smart financial news app, on July 21 local time, Yemen's Houthi armed group spokesperson Yahya Saria made a televised speech, claiming responsibility for the attack on the Israeli port city of Eilat. Saria said that in response to attacks by the United States, the United Kingdom, and Israel on Yemen, Houthi armed forces used multiple ballistic missiles to target important targets in the southern Israeli city of Eilat. He said that in addition to the above actions, Houthi armed forces' naval forces, drones, and missile units carried out a military operation in the Red Sea, using multiple ballistic missiles and drones to attack and hit a US ship named "Ponba". Relevant concept stocks: Sitc(01308), Cosco Shipping Holdings(01919), OOIL(00316), and Pacific Basin Shipping Limited(02343).

It is understood that about 12% of global trade and 30% of container transportation pass through the Red Sea. If ships traveling from Rotterdam, Netherlands to Singapore take the route around the Cape of Good Hope rather than the Suez Canal, their journey will increase by 40% (about 3800 nautical miles), and shipping and fuel costs will exceed 2 million US dollars.

From the freight rate chart provided by JiYu Technology for a 40-foot container from Shanghai to Europe, comparing the last week and the week before last week, Maersk Line and Cosco Shipping Line raised their freight rates slightly, while the other shipping companies lowered their freight rates. Among them, Evergreen Marine Corporation lowered its freight rate by nearly 10%, while most other shipping companies only lowered it by 1%-2%.

For the Shanghai-to-Rotterdam route, the quoted price has changed relatively little. On July 19th, the quoted price was between 8540 USD/FEU-11864 USD/FEU, while on July 11th, the quoted price was between 8682 USD/FEU-11864 USD/FEU. As for the US route, the freight rate for the Shanghai/Ningbo to Los Angeles/Long Beach route was quoted at 6510 USD/FEU-9646 USD/FEU on July 19th (the lowest quoted price for the week before last was 7000 USD/FEU).

The Ningbo Container Freight Index (NCFI) for export, released by Ningbo Shipping Exchange, continued to decline last week, closing at 2677.6 points, down 4.6% from the week before last. Among them, the European route freight index was 3669.5 points, down 1.5% from the week before last. The shipping companies reduced freight rates and strengthened cargo handling in the Mediterranean route, and the freight rate indexes for the east and west Mediterranean routes fell by 3.3% and 4.4%, respectively. The freight rate index for the US West route decreased the most, down 11.2% from the week before last.

Dexun, the global freight forwarding giant, believes that China-Europe's overall cargo volume is still strong, and the tight situation of cabin space continues. The overall trend of rising transportation prices has slowed down, but low-value goods that cannot bear the continuous increase in transportation prices in July are mostly delayed for shipment, and the market further trends need to be observed.

According to the report from CITIC Futures, according to data from linerlytica, the actual capacity of the Asia-Europe route in August is expected to decrease by 6.3% compared to July. Based on historical experience, there is no significant contradiction between market supply and demand in August, and the loading rate is expected to be maintained. Shipping companies will still announce rate increases.

Dongguan Securities pointed out that due to the expansion of the Red Sea crisis, global shipping giants have generally raised prices for the Far East to the Mediterranean and European routes. Considering the current long-term contract signing period and the possibility of a further tightening of the marine transportation capacity, it is expected that global marine transportation companies with European businesses in 2024 will benefit significantly, and the performance center is expected to improve. It is recommended to pay attention to Cosco Shipping Holdings, China Merchants Energy Shipping, Sinotrans Shipping, and China COSCO Shipping.

Related concept stocks:

Sitc(01308): At present, Sitc operates 72 trade routes, including 15 trade routes operated through joint services and 24 trade routes operated through container exchange positions. In terms of regional coverage, Sitc's logistics network covers 77 major ports in mainland China, Japan, South Korea, China Taiwan, China Hong Kong, Vietnam and other countries and regions.

COSCO Shipping Holdings(01919): At present, COSCO Shipping Holdings has set up nearly 700 container shipping sales and service outlets worldwide, operating a total of 291 international routes (including international feeder services), 56 Chinese coastal routes, and 84 Pearl River Delta and Yangtze River Delta feeder routes, together with about 569 ports in about 142 countries and regions globally, with a total self-operated container ship fleet capacity of more than 2.92 million standard containers.

OOIL (00316): OOIL (International) Limited is an investment holding company primarily engaged in container transportation and logistics business. The company and its subsidiaries operate through two main divisions: container transportation and logistics division, and other division. The container transportation and logistics division is engaged in global container transportation business on major routes in the Pacific, Atlantic, Eurasia, Australia and Asia regions, and within the Asia region.

Pacific Basin Shipping Limited (02343): The company specializes in its own and leased operations of handy, super handy, and other bulk carriers, focusing on global small commodity bulk shipping business. The company owns a total of 115 self-owned handy bulk carriers and super handy bulk carriers, as well as co-operating with about 243 self-owned and leased cargo ships.