航海装备Ⅲ行业动态跟踪：1-9月新接订单同比+31%，造船景气度持续提升

Investment Rating - The industry rating is "Outperform the Market" [6] Core Insights - The global new orders for the first nine months of 2024 increased by 31% year-on-year, indicating a sustained improvement in shipbuilding sentiment [2] - In September, global new orders were 5.33 million deadweight tons, a decrease of 55% year-on-year, while the cumulative new orders for January to September reached 126 million deadweight tons, surpassing the total for 2022 and 2023 [2] - China's new orders accounted for 87% of the global total in September, with a year-on-year increase of 59% for the first nine months [2] - The container ship segment showed strong performance, with new orders for September reaching 3.32 million deadweight tons, a year-on-year increase of 224% [3] - The price index for new ships increased by 0.75 points month-on-month and 14.58 points year-on-year, with container ships seeing price increases of 1.3% to 1.8% over the past three months [4] Summary by Sections New Orders and Shipbuilding Sentiment - Global new orders for the first nine months of 2024 increased by 31% year-on-year, with a total of 126 million deadweight tons [2] - In September, new orders were significantly lower compared to the previous year, with a 55% decrease [2] Performance of Different Ship Types - In September, new orders for oil tankers, bulk carriers, and container ships were 0.48 million, 0.16 million, and 3.32 million deadweight tons respectively, with container ships showing a remarkable year-on-year increase of 224% [3] - For the first nine months, container ship orders increased by 80% year-on-year [3] Ship Prices and Market Dynamics - The new ship price index reached 189.82 at the end of September, reflecting a month-on-month increase [4] - Prices for container ships (excluding 10,000 TEU types) increased by 1.3% to 1.8% over the past three months, with significant year-on-year growth [4] Investment Recommendations - The report suggests a positive outlook for the shipbuilding cycle and factory profit elasticity, recommending attention to companies such as China Shipbuilding, China Ship Defense, and China Heavy Industry [5]