交通运输行业周报：集运价格重拾升势，快递旺季件量维持高增长

Investment Rating - The report maintains an "Overweight" rating for the transportation and warehousing sector [6] Core Insights - Container shipping prices have resumed an upward trend, influenced by geopolitical factors reshaping trade patterns. The SCFI index averaged 2331.58 points in the week of November 8, 2024, reflecting a week-on-week increase of 1.22% [1] - The oil shipping sector is expected to experience a significant supply shortage in the medium to long term, with the BDTI index at 931 points as of November 6, 2024, down 4.1% from the previous week. VLCC rates were reported at $29,369 per day, a decrease of 15.2% [2] - The express delivery industry is entering its traditional peak season, with a notable increase in package volume. From October 21 to October 27, 2024, the total collection volume reached approximately 4.152 billion packages, a month-on-month increase of 13.47% [3] Summary by Sections Market Performance - The transportation sector saw a 5.0% increase over the past five trading days, ranking 21st among all sectors. The aviation sub-sector led with a 16.17% increase, followed by airports at 7.50% and logistics at 6.61% [4][9] Shipping Industry - Container shipping rates have shown variability, with European rates averaging $2,541 per TEU (up 4.1%) and U.S. West Coast rates at $4,729 per FEU (down 2.0%) as of November 8, 2024 [25] - The oil shipping sector is projected to grow due to increased demand from China and an upcoming OPEC+ production increase, despite a slow growth in shipping capacity [2] Express Delivery - The express delivery sector is experiencing high growth, with a reported 149.7 billion packages delivered in September 2024, marking a year-on-year increase of 28.4% [46] Investment Recommendations - The report suggests focusing on state-owned enterprises in the transportation sector, particularly in highways, railways, and ports, as well as companies in the oil and container shipping sectors due to favorable market conditions [5]