交通运输行业周报：HMM拟收购韩国航运巨头SK Shipping，东航1月旅客周转率同比上升19.71%

Investment Rating - The report rates the transportation industry as "Outperform" [1] Core Insights - Star Bulk achieved a net profit of $300 million in 2024, with total revenue of$1.26 billion, a year-on-year increase of 33.3%. The average TCE for the fleet reached $18,329 per day, up 16.2$1.4 billion [2][14][15][16] - China Eastern Airlines reported a 19.71% year-on-year increase in passenger turnover in January 2025, with a capacity increase of 11.89%. The new T5 terminal at Xi'an Airport officially opened on February 20, 2025 [2][18][19] - In 2024, China's express delivery volume reached 175.08 billion pieces, a year-on-year growth of 21.5%. The postal industry completed a total of 193.7 billion pieces, growing 19.2% year-on-year [2][23][24][25] Summary by Sections 1. Industry Hot Events - Star Bulk's financial performance in 2024 includes a net profit of $300 million and a total revenue of$1.26 billion, with a significant acquisition plan by HMM for SK Shipping [14][15][16] - China Eastern Airlines saw a 19.71% increase in passenger turnover in January 2025, and the T5 terminal at Xi'an Airport commenced operations [18][19] - The express delivery sector in China achieved a volume of 175.08 billion pieces in 2024, marking a 21.5% increase [23][24] 2. Industry High-Frequency Data Tracking - Air cargo demand remains stable, with January 2025 showing an increase in domestic and international cargo flights [27][31] - Shipping rates have declined, with the SCFI index at 1595.08 points, down 9.31% week-on-week and 26.37% year-on-year [35][36] - The express delivery business saw a 22.30% increase in December 2024, with total revenue reaching 137.89 billion yuan [44][45] 3. Investment Recommendations - The report suggests focusing on the industrial goods export chain, recommending companies like COSCO Shipping, China Merchants Energy, and Huamao Logistics [4] - It highlights investment opportunities in low-altitude economy trends and the cruise and ferry sectors, recommending companies such as Bohai Ferry and Haixia Co [4] - The report also emphasizes opportunities in the e-commerce express delivery sector, recommending SF Express, Jitu Express, and Yunda [4]