交通运输周报：港珠澳大桥六年迎客超6230万人次

Investment Rating - The report indicates a positive investment outlook for the transportation sector, with specific recommendations for companies such as Spring Airlines, Hainan Airlines Holding, and Juneyao Airlines [5][46]. Core Insights - The transportation index increased by 1.8% from October 21 to October 25, 2024, outperforming the Shanghai Composite Index, which rose by 1.2% during the same period [2][22]. - Key subsectors showing strong performance include cross-border logistics (+4.5%), air transport (+4.0%), and shipping (+3.6%) [2][22]. - The report highlights significant growth in passenger traffic through the Hong Kong-Zhuhai-Macao Bridge, which welcomed over 62.30 million visitors in six years [33][34]. Weekly Market Review - The transportation index rose by 1.8%, with notable increases in cross-border logistics, air transport, and shipping [2][22]. - The report tracks oil transport prices, Mongolian coal transport, and national highway freight traffic [2][42]. Shipping Observations - As of October 25, 2024, the SCFI index was at 2185.33, reflecting a 6.0% increase from the previous week, while the BDI index decreased by 10.5% to 1410 [3][29]. - The report notes a decline in the BDTI and BCTI indices, indicating a slight decrease in oil transport rates [29][31]. Recent Highlights - The Hong Kong-Zhuhai-Macao Bridge has seen a significant increase in traffic, with over 6.23 million visitors in six years and a notable rise in the number of vehicles [33][34]. - The Changzhou hub reported a cargo throughput of 183 million tons, surpassing last year's total 70 days early, indicating strong shipping activity [33][34]. - The express delivery sector experienced a peak season with record daily parcel volumes, reflecting a 48.7% year-on-year increase [33][34]. Investment Strategy - The report suggests focusing on the aviation sector due to expected recovery in international travel demand and stable growth in domestic travel [4][46]. - In the express delivery sector, companies like S.F. Holding and Yunda Holding are highlighted for their performance despite recent declines in average selling prices [44][46]. - The shipping sector is recommended for investment due to tight supply-demand dynamics in oil transport, which is expected to support profit margins [45][46].