Due to the sharp drop in the container shipping index, the shipping sector in Hong Kong stock market fell sharply. As of press time,$COSCO SHIP HOLD (01919.HK)$fell more than 13%,$COSCO SHIP ENGY (01138.HK)$fell more than 11%,$OOIL (00316.HK)$Fall by more than 10%.$COSCO SHIP DEV (02866.HK)$fell nearly 9%.

News-wise, on June 11, due to the news of UN passing resolutions related to Gaza, the Shanghai International Energy Trading Center's container shipping index (Europe line) main contract fell more than 9% during the day, and the forward contracts EC2410, 2412, 2502, and 2504 was limit down.

Container shipping index usually refers to a container shipping index that focuses on European routes. This type of index focuses on reflecting changes in container shipping costs and prices from Asia to Europe (especially the Nordic and Mediterranean regions).

It is worth noting that the container shipping index, which has benefited from the positive stimulus of mainly port congestion and the performance expectations of head shipping companies, has shown continuous increases in recent days.

Why did container shipping index have a sharp drop during the day?

According to CCTV reports, on the 10th, the United Nations Security Council voted to pass a Gaza-related resolution submitted by the United States, calling on Hamas and Israel to accept a ceasefire agreement.

According to the draft resolution, the ceasefire proposal will be implemented in three phases. In the first stage, an immediate and comprehensive ceasefire will be implemented, and the Israeli army will withdraw from all population gathering areas in Gaza; Hamas will release some detainees such as women, the elderly, and the wounded, and return the bodies of some deceased persons; Israel will release Palestinian detainees. In the second phase, Hamas will release the remaining detainees. As the condition for exchange, the Israeli army will withdraw from Gaza. The third phase will launch a large-scale reconstruction plan for Gaza.

Hamas in Palestine issued a statement on the evening of the 10th local time, welcoming the United Nations Security Council's vote to pass a resolution calling for a ceasefire in Gaza.

According to Guotou Anxin Futures, the United Nations Security Council's vote on a Gaza-related resolution submitted by the United States calling on Hamas and Israel to accept a ceasefire agreement may exert greater pressure on far-month contracts, dragging down the trend of near-month contracts.

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