> 数据图表如何了解海运费高位运行，持续压缩外销利润空间2025-7-2海运费高位运行，持续压缩外销利润空间 海运费有所上涨。2024年在红海战争和海外补库周期影响下，全年海运费维持高位运行；2025年以来海运费在高基数、高库存影响下有一定程度的下滑，但预计关税政策冲击下，厂商抢出口行为会继续支撑海运费高位运行，对家电外销利润空间持续造成压力。海运费同比增速情况数据来源：Wind，西南证券整理152022Q12022Q22022Q32022Q42023Q12023Q22023Q32023Q42024Q12024Q22024Q32024Q42025Q1地中海 86.4%26.2%-22.1%-61.8%-71.6%-72.7%-68.8%-41.1%39.3%88.8%110.3%96.0%-17.6%东南亚 32.0%30.8%-24.4%-61.2%-66.6%-65.0%-47.4%-9.5%12.9%75.9%91.2%90.4%34.6%韩国34.6%37.0%31.0%-10.9%-39.6%-58.3%-65.4%-57.3%-38.6%-7.7%21.9%14.3%6.3%美东77.1%47.1%9.9%-43.5%-59.7%-71.8%-66.9%-41.4%11.1%77.1%64.2%44.0%-13.9%美西92.0%58.4%-10.4%-62.7%-71.0%-74.1%-61.8%-19.8%40.3%100.2%74.2%37.7%-13.8%南美32.9%-2.1%-30.2%-75.4%-74.9%-63.9%-63.2%-9.9%14.6%110.9% 108.7%58.8%5.9%欧洲79.9%24.1%-19.9%-62.1%-76.5%-77.7%-75.7%-46.9%52.1%131.6% 177.0% 112.2%-18.3%日本24.6%32.6%18.6%0.7%-17.2%-29.4%-32.2%-29.2%-19.0%-15.4%3.6%22.1%28.9%西南证券大消费
