Investment Rating - The report rates the transportation industry as "Outperform" [1] Core Insights - The container shipping price index has decreased week-on-week, while new ship orders across various types have increased. As of August 8, the Drewry World Container Index fell by 3% to 10,377 per FEU in September 2021, but up 291% from the pre-pandemic average of $1,420 per FEU in 2019 [2][7] - There has been a significant increase in inbound and outbound travel, particularly in the Yangtze River Delta region, with a total of 287 million inbound and outbound travelers in the first half of the year, a year-on-year increase of 70.9% [2][8] - Logistics business volume maintained expansion in July, with the logistics industry prosperity index at 51%, down 0.6 percentage points from June [2][12] Summary by Sections 2.1 Air Logistics High-Frequency Data Tracking - Air freight prices remained stable from late July to early August, with the Shanghai outbound air freight price index at 4,565 points, up 30.4% year-on-year [13] - In July, domestic cargo flights increased by 14.48% year-on-year, while international flights rose by 24.71% [15] 2.2 Shipping Port High-Frequency Data Tracking - The container shipping price index has dropped, with the SCFI index at 3,253.89 points, down 2.36% week-on-week [17] - In the first half of 2024, national port cargo throughput reached 8.563 billion tons, a year-on-year increase of 4.6% [21] 2.3 Express Logistics Dynamic Data Tracking - In June, express delivery volume increased by 17.70% year-on-year, with total express delivery volume reaching 14.571 billion pieces [23]
交通运输行业周报：集运运价指数周环比回落，7月物流业务量保持扩张
中银证券·2024-08-12 08:00