交通运输行业周报：高波动下关注内需相关标的，看好估值修复板块

Investment Rating - The report maintains an "Outperform" rating for the transportation industry [3][4]. Core Insights - The shipping sector shows mixed trends with rising rates for small oil tankers, while demand for product tankers weakens. Domestic shipping demand is rebounding, indicating potential for recovery [3][40]. - The logistics sector is experiencing a rebound, with express delivery demand exceeding expectations. Key players include Jitu Express and SF Express, which are expected to benefit from improved operational efficiency [3][43]. - The aviation sector is witnessing an increase in flight volumes during the National Day holiday, with a decrease in ticket prices, indicating a recovering supply-demand balance [3][46]. Summary by Sections Industry Weekly Market Review - The transportation index fell by 6.56%, underperforming the CSI 300 index by 3.31 percentage points [6][8]. - The top-performing stocks this week included Jinxin Online B (+14.8%) and China National Offshore Oil Corporation (+10.7%) [12][14]. - The industry valuation is at a relatively low level, with a PE ratio of 15.7 times [15][18]. High-Frequency Data Tracking - In the shipping sector, the BDTI index rose by 8.7% week-on-week, indicating a recovery in oil tanker rates [19][20]. - The express delivery sector saw a year-on-year increase in volume, with a total of 3.126 billion packages collected in the last week [30][31]. Investment Strategy - In the shipping sector, the report highlights the potential for recovery in domestic shipping due to improved economic measures and demand [40][42]. - The logistics sector is recommended for investment, particularly in companies benefiting from the real estate chain, such as Debang Logistics [43][46]. - The aviation sector is advised for attention due to the increase in flight volumes and improving operational metrics [46][47].