交通运输行业周报：油轮新造船订单近期有所增长，本周外交部宣布对多国实行免签

Investment Rating - The report rates the transportation industry as "Outperform" [3] Core Insights - Concerns over tariffs have led to a significant increase in cargo volumes at U.S. ports, with new orders for oil tankers also rising recently. In October, China's total import and export value reached 37,007 billion yuan, a year-on-year increase of 4.6% [26][27] - The International Air Transport Association (IATA) predicts that domestic air passenger traffic in China will grow at an average annual rate of 5.7% over the next 20 years, which is higher than the global average of 3.8% [29][30] - China's express delivery volume has surpassed 150 billion packages for the first time, with an average of over 5,400 packages generated per second [37][38] Industry Dynamics Shipping and Ports - The Drewry World Container Index (WCI) reported a 1% decrease week-on-week, currently at approximately $3,413 per FEU, which is 67% lower than the peak in September 2021 [26] - The SCFI index reported at 2,160.08 points, with a week-on-week decrease of 4.08% but a year-on-year increase of 116.03% [54] Air Logistics - Air freight prices are on an upward trend, with the Shanghai outbound air freight price index at 5,339 points, a year-on-year increase of 4.0% [42] - In October, domestic cargo flights increased by 16.04% year-on-year, while international flights saw a 40.40% increase [49] Express Logistics - The express delivery industry in China has achieved a historic milestone, with annual business volume exceeding 150 billion packages, marking a significant growth in the sector [37] - The rise of drone delivery services is becoming a new trend in the low-altitude economy, significantly improving delivery efficiency [38] Investment Recommendations - Focus on the equipment and manufacturing export chain, recommending companies such as COSCO Shipping Energy, China Merchants Energy Shipping, and Huamao Logistics [28] - Pay attention to the low-altitude economy investment opportunities, particularly in companies like CITIC Offshore Helicopter [28] - Consider investment opportunities in the cruise and ferry sectors, recommending Bohai Ferry and Haixia Stock [28] - Explore e-commerce and express delivery investment opportunities, recommending Jitu Express and Yunda Holdings [28] - Look into the aviation sector, recommending China National Aviation Holdings, China Southern Airlines, Spring Airlines, and Huaxia Airlines [28]