According to the WiseNews app, marine transportation stocks continue their downward trend. As of press time, Sitc International Holdings (01308) fell 6.46% to HKD 17.38, Cosco Shipping Holdings (01919) fell 2.93% to HKD 10.6, OOIL (00316) fell 2.83% to HKD 106.5, and Pacific Basin Shipping (02343) fell 2.55% to HKD 2.29.

On the news front, in mid-July, freight rates reached a turning point and the shipping market as a whole saw a downturn. The latest Shanghai Containerized Freight Index (SCFI) ended 13 consecutive weeks of gains. According to the shipping market weekly report released by the Shanghai Shipping Exchange on July 12, the SCFI weekly decline was 1.6%.

Nanhua Futures pointed out that the price of the main contract has fallen more than expected. At present, one of the main reasons is related to recent shipping companies repeatedly lowering their current cabin prices and the continuous increase in shipping capacity, as well as a financial game, causing futures prices to fall after reaching a high. Relatively speaking, the direction of recent Israeli-Palestinian ceasefire negotiations is not very clear, and far-month futures prices have rebounded from the "low". In terms of fundamentals, some previous shipping demand was pre-set due to high EU tariffs, and the current shipping demand has gradually declined from its peak. New ship capacity has continued to increase, and supply and demand are gradually balancing out.