Huachuang Securities: The performance growth of oil transportation, bulk transportation, and shipbuilding in 1Q of 26 is impressive. The dividend yield of shipping stocks is attractive.

Huachuang Securities released a research report stating that it emphasizes investment opportunities in shipping and shipbuilding, and continues to prefer oil tankers. 1. Oil Transportation: Continues to be bullish on oil transportation investment opportunities in the short, medium, and long term, especially optimistic about the arrival of a large cycle in the long term. 2. Container Shipping: Middle East conflicts support freight rates, and container shipping companies have attractive dividend yields. 3. Dry Bulk: Similar to oil transportation, the supply side of dry bulk has low growth characteristics, and the commissioning of the West Mang Du Iron Mine constitutes a core catalyst for demand, optimistic about the upside potential of the dry bulk market. 4. Shipbuilding: Oil tankers and bulk carriers are expected to release demand for replacement and updates. Huachuang Securities' main points are as follows: 1. Oil Transportation: Industry prosperity continues to rise, with profits reaching historical highs 2. Container Shipping: Middle East conflicts support freight rates, and dividend yields are attractive 3. Dry Bulk: Freight rates are on a strong run, and profits continue to improve 4. Shipbuilding: Profits are accelerating, and oil tanker orders are surging Risk Warning: Sharp drops in spot prices, lower-than-expected demand, and geopolitical events may have an impact.