2025-06-13-Jefferies-在不同的潮流中航行_6页_665kb

The report analyzes the transportation sector in Asia-Pacific excluding Japan as of June 13, 2025, focusing on shipping indices and market trends.

Container freight indices show mixed performance: the Shanghai Container Freight Index (SCFI) declined, while the Tianjin Container Freight Index (TCI) increased, with regional variations observed in Europe-West and East Mediterranean routes. Drybulk rates improved significantly, driven by rising demand for Capesize and Panamax vessels, with the Baltic Dry Index (BDI) and related indices climbing due to higher freight rates and tight capacity on long-haul routes. Tanker rates softened, with the Crude Tanker Freight Index (CTFI) decreasing, as VLCC and product tanker rates faced downward pressure despite higher oil prices.

Canal transit metrics indicate recovery: weekly container arrivals at the Cape of Good Hope rose above records, Suez Canal transits improved from lows, and the Panama Canal is no longer a bottleneck. Overall, analysts provide ratings with buy, hold, and underperform categories, noting risks such as market volatility and regulatory hurdles.