交通运输行业周报：2024年冬春航季航班月底开始执行，双十一临近快递行业旺季启动

Investment Rating - The report rates the transportation industry as "Outperform" [1] Core Insights - The report highlights a significant increase in new ship orders, driven by high freight rates during the pandemic, which is expected to lead to a substantial increase in fleet capacity. The total new container ship orders for this year are projected to reach 2.2 million TEU [1][14] - The 2024 winter-spring flight schedule commenced on October 27, with a further orderly recovery of international routes. Domestic airlines plan to operate approximately 95,968 domestic flights weekly, which is stable compared to last year and represents a 33% increase from the 2019/20 winter-spring season [1][16][17] - The upcoming Double Eleven shopping festival is expected to boost the express delivery sector, with significant increases in package collection and delivery volumes observed in late October [1][25][26] Summary by Sections 1. Industry Hot Events - New ship orders are increasing, with a forecast of 2.2 million TEU for 2024, while Brazil's corn exports have decreased by 25.59% from June to September 2023, negatively impacting the dry bulk market [1][15] - The 2024 winter-spring flight schedule has begun, with 194 airlines planning to operate 118,000 flights weekly, marking a 1.2% increase from last year [1][16] - The express delivery sector is entering its peak season, with a record of 7.29 billion packages collected in a single day, reflecting a 74% year-on-year increase [1][26] 2. Industry High-Frequency Data Tracking - Air freight prices have shown an upward trend, with the Shanghai outbound air freight price index at 5,006 points, up 12.2% week-on-week [2][30] - In September 2024, domestic cargo flights increased by 13.94% year-on-year, while international flights rose by 30.80% [2][36] 3. Investment Recommendations - The report suggests focusing on the equipment and manufacturing export chain, recommending companies such as COSCO Shipping, China Merchants Energy Shipping, and Huamao Logistics [2] - It also highlights investment opportunities in the low-altitude economy, recommending SF Holding and CITIC Offshore Helicopter [2] - The report emphasizes the potential in the cruise and ferry sectors, recommending Bohai Ferry and Straits Shares, as well as opportunities in e-commerce express delivery with companies like Jitu Express and Zhongtong Express [2]