交通运输行业周报：厦门积极推进国家综合货运枢纽补链强链，重点项目累计完成投资超68.5亿元

Investment Rating - The report suggests a neutral investment rating for the transportation industry, indicating expected returns within -10% to 10% relative to the benchmark index [48]. Core Insights - The transportation index decreased by 6.6% during the week of October 8-11, 2024, underperforming the Shanghai Composite Index, which fell by 3.6% [22][24]. - Sub-sectors such as aviation and shipping experienced significant declines, with aviation transportation down by 9.8% and shipping down by 7.5% [22]. - The report highlights a recovery in international air travel demand, driven by improved international relations and easing visa policies, with expectations for further growth in 2024 [5]. - The logistics sector in Xiamen has seen substantial investment, with over 68.5 billion yuan allocated to key projects aimed at enhancing the national comprehensive freight hub [43]. Summary by Sections Market Review (October 8-11, 2024) - The Shanghai Composite Index rose, while the transportation sector lagged behind, with a 6.6% decline [22]. - Various sub-sectors showed negative performance, including public transport (-0.8%), ports (-4.7%), and express delivery (-5.6%) [22][24]. Shipping Data Observation - As of October 11, 2024, the SCFI index was at 2062.57, down 3.4% from the previous period [28]. - The BDI index was recorded at 1809, reflecting a 6.2% decrease from the previous week [28][29]. Investment Strategy - The report recommends focusing on specific companies within the aviation sector, such as Spring Airlines, Hainan Airlines, and Juneyao Airlines, while also suggesting attention to logistics companies like SF Express and China National Aviation [5][44]. - The oil shipping sector is highlighted for its potential recovery in demand and pricing, suggesting investment opportunities [5]. Recent Highlights - The report notes significant infrastructure developments, including the completion of the Pearl Comprehensive Terminal in Anhui, which enhances regional logistics capabilities [42]. - Xiamen's logistics hub projects are progressing, with substantial investments aimed at improving transportation efficiency [43].