交通运输行业周报：关税风波致国际贸易与运输秩序混乱，极兔速递一季包裹量同比增长31.2%-20250415

Investment Rating - The transportation industry is rated as "Outperform" [2] Core Insights - The erratic tariff policies of Trump are causing chaos in international trade and transportation order, with significant impacts on shipping and logistics [2][12] - Eastern Airlines is set to launch a new international route from Shanghai to Geneva, while Shenzhen Airport reported a 32% year-on-year increase in inbound and outbound passengers in Q1 2025 [2][13][15] - Jitu Express reported a 31.2% year-on-year increase in package volume in Q1 2025, with over 2.8 billion packages collected during the Qingming holiday [2][19][20] Industry Dynamics Tracking Aviation Logistics - Air freight prices remained stable from early to mid-April 2025, with the Shanghai outbound air freight price index at 4689.00 points, up 5.4% year-on-year [24][25] - In March 2025, domestic cargo flights decreased by 0.23% year-on-year, while international flights increased by 39.16% [35] Shipping Ports - The SCFI index rose to 1394.68 points, while the BDI index fell to 1274 points, indicating mixed trends in shipping rates [43][47] - In January-February 2025, national port cargo throughput reached 2.674 billion tons, a 2.3% year-on-year increase [52] Express Logistics - In February 2025, express delivery volume increased by 58.75% year-on-year, with total revenue rising by 30.43% [54] - The CR8 index for the express delivery industry was 87.10, indicating a high concentration of market share among leading companies [78] Air Travel - The average daily international flights in the second week of April 2025 increased by 23.42% year-on-year, reflecting a recovery in air travel demand [84] Road and Rail - The national highway cargo truck traffic was 48.276 million vehicles from March 31 to April 6, 2025, a decrease of 11.71% [99] - In early April 2025, the railway transported 76.108 million tons of goods, a decrease of 4.95% week-on-week [104]