March 2, 2026 05:26 PM GMT China Transportation | Asia Pacific Hormuz Transit Disruption - Our Thoughts We see many moving parts that could influence investor sentiment towards tanker shipping, given spot rates are at a multi-year high. Stay guarded on container shipping and constructive on Chinese airlines. Key Takeaways What happened, and reactions from Chinese shipping companies: Conflict in the Middle-East has impacted the availability of the Hormuz strait transit. Several commercial vessels were report ...

Qantas Airways CEO Vanessa Hudson said the airline had "pretty good" fuel hedging in place but the spike in oil prices amid the conflict between the U.S., ‌Israel and Iran was significant ⁠for the ⁠aviation industry. "We've got pretty good hedging in place, but these are pretty significant impacts on aviation and we're just continuing to watch how it all unfolds," she said at the Australian Financial Review's business summit as the airline's shares fell for a second day, trading as much as 3.9% lower. Oil ...

2 March 2026 | 8:30AM HKT Equity Research CHINA TRANSPORTATION Reassessing potential impact from Iranian oil supply and Hormuz strait disruption On February 28, the US and Israel launched military operations against Iran's Islamic regime. Media have reported the closure of the Strait of Hormuz and that ships are avoiding the Hormuz strait. While the situation remains fluid, and implications dependent on the scale and duration of the conflict (see views from our Commodities team), for illustrative purposes, ...

| 3 月金股组合 | | | --- | --- | | 股票代码 | 股票名称 | | 0119.HK | 保利置业集团 | | 000099.SZ | 中信海直 | | 601872.SH | 招商轮船 | | 600352.SH | 浙江龙盛 | | 002409.SZ | 雅克科技 | | 002709.SZ | 天赐材料 | | 300760.SZ | 迈瑞医疗 | | 605338.SH | 巴比食品 | | 1579.HK | 颐海国际 | | 601888.SH | 中国中免 | | 689009.SH | 九号公司-WD | | 688630.SH | 芯碁微装 | | 市场指数 | | | | --- | --- | --- | | 指数名称 | 收盘价 | 涨跌% | | 上证综指 | 4182.59 | 0.47 | | 深证成指 | 14465.79 | (0.20) | | 沪深 300 | 4728.67 | 0.38 | | 中小 100 | 8847.90 | 0.14 | | 创业板指 | 3294.16 | (0.49) | 证券研究报告——晨会聚焦 2026 年 3 ...

资讯日报：美以联手空袭伊朗，国际油价应声飙涨 股票市场概览 港股市场表现 日本主要指数一年表现 JING YI, CFA, CPA SFC CE No.: BRQ314 +852 2899 6747 jessiejing@guosen.com.cn 注：以上数据均来官方披露、公司资料，国信证券（香港）研究部整理，请务必阅读正文之后的信息披露及其项下所有内容。 富时新加坡海峡指数一年表现 数据日期：2026 年 2 月 27 日 资料来源：万得，国信证券（香港）财富研 究部整理 美股市场表现 2026 年 3 月 2 日 资讯日报 海外市场主要股市上日表现 | 指数 | 收盘价 | 日常跌 | 周常失 | 年初至今 | | --- | --- | --- | --- | --- | | | | (%) | (%) | 湖铁 | | | | | | (%) | | 恒生指数 | 26.631 | 0.95 | 0.82 | 3.90 | | 恒生科技 | 5.138 | 0.56 | (1.41) | (6.86) | | 恒生国企 | 8.859 | 0.51 | (1.12) | (0.61) | | 上证指 ...

交通运输行业周报 20260301 中东局势向全面冲突演化，油运景气度持续上行；春节假期民航出行量价双旺 glmszqdatemark 2026 年 03 月 02 日 航空货运：口岸运价同比回升，美国关税政策调整或带来美线全年出口表现超预 期。上周主要空运口岸运价企稳，受春节假期影响，三大航货机利用率普遍下降。 根据航班管家数据，26/2/17-2/23 东航物流/国货航/南航物流货机机队利用率为 9.2/9.6/13.6 小时，同比-36.1%、-14.7%、持平。美最高法院推翻特朗普政府关 税政策，美国对我国进口商品综合关税税率或有所调整，催化板块投资情绪，全 年展望美线出口需求表现或将超市场预期，继续推荐行业头部干线物流商东航物 流，配置价值突显。 本周关注：1）快递板块：推荐当前位于低估区间的顺丰控股、顺丰同城。看好"反 内卷"持续推行下，快递企业经营向好表现，推荐极兔速递-W、中通快递-W、申 通快递、韵达股份、圆通速递。2）航空板块：航空量价延续去年春运强势表现将 催化投资情绪，建议关注行业预售表现。关注三大航 A+H，中国国航、南方航空、 中国东航；民航春秋航空、吉祥航空。3）出海方向：推荐嘉 ...

高盛分析认为，A股油轮板块及中远海运能源因绕行、补库及制裁解除预期成为最大潜在受益者，极端情景下日收益可增3 万美元；航空公司受燃油成本激增冲击，盈利下行风险居首。集运方面因绕行红海及港口拥堵，运费获得支撑。若海峡持 续封锁，布伦特油价峰值或冲破100美元。 霍尔木兹海峡局势骤然升级，A股交通运输板块的命运正在走向分叉。高盛研究团队评估认为，油轮板块及中远海运能源 有望成为此次地缘冲突的最大受益方，而航空公司因燃油成本敞口居板块之首，正面临各子行业中最大的盈利下行风 险。 美国总统特朗普当地时间3月1日发表视频讲话称，美国和以色列将继续对伊朗的军事行动，直到达成所有目标。媒体相 继报道霍尔木兹海峡宣告封锁，多艘油轮已开始绕行该海域。霍尔木兹海峡承载全球近40%的海上石油贸易运量，中国 是相关石油流向的最主要目的地，局势演变对全球能源供应链影响深远。 高盛中国交通运输研究团队于3月2日发布报告指出， 油轮板块及中远海运能源在其覆盖的交通运输股中拥有最大上行空 间。 在伊朗石油制裁被完全解除的极端情景下，约5%的航运需求将从影子船队转向合规船队，届时各类原油油轮每日 TCE（时租等值）有望增加约3万美元。油价上行 ...

Investment Rating - The investment rating for the transportation industry is "Positive" (maintained) [4] Core Views - The current demand in the e-commerce express delivery industry is resilient, and the top-down "anti-involution" is driving up express prices, releasing profit elasticity for companies, indicating a favorable long-term competitive opportunity for e-commerce express delivery [17] - The oil transportation market may see a significant price increase due to escalating conflicts in the Middle East, which could limit Iranian oil exports [5] - The shipping market is expected to benefit from OPEC+ production increases and the Federal Reserve's interest rate cuts, enhancing the elasticity of VLCC freight rates [17] Industry Dynamics Tracking Shipping and Ports - The SCFI comprehensive freight index increased by 6.5% week-on-week to 1333 points, with notable increases in shipping rates to Europe, the Mediterranean, and the US [5] - The BDTI index for crude oil shipping rose by 6.47% to 1870 points, with VLCC TCE increasing by 30.2% [6] - The BCTI index for refined oil shipping increased by 3.3% to 838 points, with significant rises in rates for LR1 and MR vessels [6] - The BDI index for bulk carriers rose by 2.7% to 2120 points, indicating a positive trend in bulk shipping rates [6] - New ship prices have generally decreased, with the new ship price index down by 0.57 points to 182.15 points [6] Express Logistics - The Zhejiang Postal Administration has outlined nine key tasks for 2026, focusing on maintaining fair competition and enhancing service quality in the express delivery sector [9] - During the Spring Festival, the express delivery volume in Yiwu reached a historical high of 56.3 million packages in a single day, with a year-on-year growth of 10% in package volume [10] - Shentong Express emphasized the role of AI in operations, aiming for a collaborative strategy focused on experience, market share, and profit [11] Aviation and Airports - During the 2026 Spring Festival holiday, civil aviation transported 22.05 million passengers, a year-on-year increase of 7.7% [13] - The number of inbound foreign tourists increased by 49.5% in 2025, indicating a recovery in international travel [14] Road and Rail - National logistics operations were orderly from February 16 to February 22, with rail freight down by 10.72% and highway freight traffic down by 70.59% [16] Sub-industry Data Tracking Express Logistics - In December 2025, the national express service volume reached 18.21 billion pieces, a year-on-year increase of 2.3% [26] - In January 2026, YTO Express achieved a business volume of 2.943 billion pieces, a year-on-year increase of 29.75% [33] Shipping - The Clarksons comprehensive freight rate was $37,591 per day, a week-on-week increase of 10.37% [49] - The BDI index for bulk shipping rose by 2.70% [49] Aviation - In January 2026, civil aviation completed a passenger transport volume of approximately 63 million, a year-on-year decrease of 2.9% [59] Ports - From February 16 to February 22, 2026, China's port cargo throughput was 187.61 million tons, a week-on-week decrease of 21.75% [80]

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年2月28日 狀態: 新提交 第 1 頁 共 10 頁 v 1.2.0 致：香港交易及結算所有限公司 公司名稱: 中國國際航空股份有限公司 呈交日期: 2026年3月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 H | | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00753 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 4,955,610,672 | RMB | | 1 | RMB | | 4,955,610,672 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 4,955,610,672 | RMB | | 1 | RMB ...

文｜《 BUG》栏目 罗宁 近日， 受 近期中东局势影响，阿联酋航空官方微博发布多条消息表示，由于多地空域关 闭，阿联酋航空已暂时暂停往返迪拜的所有航班。根据其最新发布信息，此次暂停所有航班 预计持续至 "阿联酋时间3月2日（周一）15:00 / 北京时间3月2日（周一）19:00"。而从 2月28日至今，中东局势已经导致阿联酋航空连续两天航线停运。 对于常年穿梭于全球六大洲 150多个目的地、拥有269架飞机的阿联酋航空而言，这样的 往返迪拜的 全线停航堪称 "史无前例"。以往即便中东地区爆发冲突，这家以奢华服务和强 劲运力著称的"土豪航司"，也仅会暂停飞往特定冲突区域的航班，从未出现过全线停摆的 情况。 结合过往停航案例测算， 2010年，由于冰岛火山灰危机，欧洲空域全面关闭，阿航取消约 250班欧洲航线，约30架飞机停场（占当时机队约20%）。时任阿航总裁提姆·克拉克公开 表示，每日客运收入损失约1000万美元；另每日额外支出约 100万美元用于安置滞留旅 客。 但此次的影响明显要大于遭遇冰岛火山事件，且结合十多年汇率提升等因素，专家预 测， 阿联酋航空停运 每天至少损失超过 5000万美元。 另 据新 ...