交通运输行业周报：美国大选结束集装箱需求或将增长，今年“双11”快递业务量预计维持高位

Investment Rating - The report rates the transportation industry as "Outperform" [1] Core Insights - The conclusion of the U.S. elections is expected to increase container demand, with shipping rates rising since the end of October. The complexity of the container shipping industry is anticipated to grow, influenced by new policies from the Trump administration, which may reshape market dynamics and boost demand [1][14] - Domestic air ticket prices have significantly decreased, with a notable increase in flight bookings on the China-Canada route in the third quarter. The Canadian government has lifted restrictions on flights from mainland Chinese airlines, leading to a surge in interest for these routes [1][17] - The logistics industry is experiencing a recovery, with the logistics performance index (LPI) rising to 52.6% in October, indicating a positive trend. The "Double 11" shopping festival is expected to maintain high express delivery volumes, with record-breaking daily package collection [1][23] Summary by Sections 1. Industry Hotspot Events - Container demand is projected to rise post-U.S. elections, with shipping rates increasing by 7% to $3,444 per FEU as of November 7, 2024. This is significantly higher than pre-pandemic levels [14] - Domestic air ticket prices have dropped, with a 1.2% increase in planned flights compared to last year. The reopening of the China-Canada route has led to a 47% increase in flight search interest [17][18] - The logistics performance index has improved, with express delivery volumes expected to remain high during the "Double 11" festival, surpassing 1 trillion yuan in revenue [23] 2. Industry High-Frequency Data Tracking - Air freight prices have shown an upward trend, with the Shanghai outbound air freight price index at 5,493 points, up 22.4% week-on-week [24] - The number of domestic cargo flights increased by 13.94% year-on-year in September 2024, while international flights rose by 30.80% [30] 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. It also highlights opportunities in the low-altitude economy and the cruise industry [2][6]