"今治船舶海事展会"于上周四在造船重镇爱媛县今治市举行，为期三天，来自24个国家的约380家公司参展，创历史新高。为了满足日益增长的参 展需求，今治港增设了一个新展厅。 在此期间，随着日本政府与美国进入第三轮关税谈判，一些人担心如何应对特朗普振兴美国造船业的目标。 英国克拉克森研究公司的2024年新建船舶价格指数达到189.2，高于2023年的178.4，较2020年的低点上涨了50%。据日本船舶出口商协会(JIS)的数 据，截至4月底，日本造船企业的建造积压量约为3.7年。 日本第二大造船企业日本海洋联合(JMU)公布，截至3月的财年合并净利润为199亿日元(约合1.38亿美元)，是上一年的5.4倍，创下新高。 三井造船曾是一家大型造船企业，现已不再从事船舶建造，而是专注于船用发动机和港口起重机，其净利润为390亿日元，同比增长约60%。 在日本造船业迎来期待已久的繁荣之际，中国和韩国的企业也蓬勃发展。面对亚洲竞争对手的压倒性规模，日本在全球市场上的地位正在减弱。 克拉克森的数据显示，2024年，中国造船厂将占据全球新造船订单的69%，而韩国的份额为15%，日本仅为7%。随着日本的份额逐渐缩小，许 多人都在 ...

Company Overview - Viking Holdings Inc. is a new entrant in the cruise line industry, known for its longships and child-free cruises, having completed its IPO in April 2024 [1] - The company reported its first-quarter earnings for 2025, indicating maturity and potential for future growth despite a premium valuation [1] Financial Performance - Viking achieved a revenue of $897.06 million, exceeding analysts' estimates of $841.18 million by over 6% and showing a year-over-year increase of 24.9% [2] - The company reported a loss of $0.24 per share, which was better than the expected loss of $0.27 and an improvement from the $0.74 loss reported in May 2024 [3] Demand and Capacity - Despite the first quarter being historically weak for cruise lines, Viking's capacity passenger cruise days increased by 14.9% with a 94.5% occupancy rate for the quarter [2] - The company has booked 92% of its capacity for the current season, although 2026 bookings are at 37%, slightly below last year's 39% [7] Fleet Expansion - Viking announced the delivery of its newest river ship, the Viking Thoth, in October, and plans to expand its Nile River fleet to 12 ships by 2027 [8] - The company is also set to take delivery of one ocean ship and nine river vessels in 2025, indicating a bullish outlook with favorable demand trends [9] Stock Performance - Viking's stock forecast shows a 12-month price target of $46.89, representing a 6.85% upside based on 18 analyst ratings [4] - The stock experienced a drop of nearly 7% post-earnings report but recovered some losses, suggesting potential support levels [11] Market Position - The cruise line targets a demographic with disposable income, focusing on a non-party atmosphere with no casinos and no passengers under 18 [6] - Despite concerns about passenger numbers being approximately 88,000 below estimates, there is no evidence of waning demand [7]