交通运输行业周报：中国加拿大直航增班即将启动

Investment Rating - The industry investment rating is "Outperform the Market" and is maintained [1] Core Viewpoints - The transportation sector outperformed the market with a weekly increase of 1.5%, while the Shanghai Composite Index decreased by 0.8% during the period from October 28 to November 1, 2024 [3][21] - The aviation sector is expected to see a significant recovery in international travel demand in 2024, driven by improved international relations and easing visa policies [5][6] - The shipping sector is anticipated to benefit from a tightening supply-demand balance, particularly in oil transportation, which is expected to support rising freight rates [5][6] Market Performance Summary - The transportation index increased by 1.5% during the week, with notable performances in sub-sectors: - Aviation (+7.7%) - Public Transport (+3.8%) - Shipping (+3.4%) - Express Delivery (+1.6%) - Highways (+0.4%) - Ports (-0.6%) - Rail Transport (-0.7%) - Road Freight (-2.0%) - Cross-border Logistics (-2.5%) - Warehousing Logistics (-3.7%) [3][21][22] Shipping Observations - As of November 1, 2024, the BDI index was at 1378 points, down 2.3% from the previous week, while the SCFI index rose by 5.4% to 2303.44 points [26][27][28] Recent Highlights - The increase in direct flights between China and Canada is set to enhance trade and travel, with Canadian airlines planning to increase weekly flights from four to seven starting December 7, 2024 [33][34] - Significant investments in transportation infrastructure have been made, with a total of 188 billion yuan allocated in the first three quarters of the year [34][35] Investment Recommendations - Recommended stocks include Spring Airlines, Hainan Airlines, and Juneyao Airlines, with additional attention on SF Express, Air China, YTO Express, and Yunda Holdings [6][35]