Ge Long Hui·2025-08-11 04:34Industry Overview - The demand landscape in the container shipping and shipbuilding industry is increasingly divergent, with Maersk observing strong demand outside the U.S. market while maintaining a cautious stance towards the U.S. due to tariff uncertainties [1] - ICTSI reported no signs of early shipments at its ports, indicating a potential slowdown in activity [1] Company Insights - Maersk has raised its guidance due to strong demand in markets outside North America, contrasting with Ocean Network Express (ONE), which has downgraded its full-year outlook due to reliance on U.S. routes [1] - The logistics managers' index (LMI) indicates high inventory levels influenced by U.S. retail sales and pre-stocking activities, which may affect shipping demand [1] Strategic Factors - The industry is facing challenges from the Red Sea crisis, port congestion, shipbuilding activities, and the implications of Section 301 tariffs, complicating strategic and investment decisions [1] - Ongoing debates regarding the International Maritime Organization (IMO) emission standards are further complicating strategic planning within the industry [1] Stock Recommendations - The company maintains a positive outlook on COSCO Shipping Holdings' H-shares and A-shares, raising target prices to HKD 21 and HKD 24 respectively, and also holds a positive view on Orient Overseas International, increasing its target price to HKD 179, all rated as "Buy" [1]