According to the research report, this year is a record year for aviation stocks; the revenue of the materials industry has increased by 19% this year, and the cash flow by cash has increased by 8% year on year. Even though it has fallen by 32% so far this year, it is still much higher than the pre-epidemic level, with an average cost of US $7350 per 40-foot container, compared with US $1450 before the epidemic. In the short term, there is no indication that we can return to pre-epidemic levels.

Due to delays in the delivery of new ships, new emission restrictions, a shortage of continuous train drivers, and higher fuel and shipping capacity, capacity is expected to rise further next year, to US $4550 for every 40-foot container.

According to the report, higher-than-expected bonus generation materials will help shipping stocks comply with the new ESG standard. in addition, shipping operators' gross liability decreased by 5% year-on-year last year, and it is expected that they will go further this year and close under the interest rate hike cycle.

Even if capital expenditure increases, the increase and growth rate will not be as large and fast as expected. Even if the recent investment is too large, it is not related to the strength of the industry (operating expenses rose by an average of 274% last year). Most of the increase in capital expenditure is due to the double increase in the cost of new ships last year, rather than the surge in new ships. In addition, 35 per cent of new ships will be delivered in 2023 and 39 per cent in 2024. New ships will be used for modernization rather than full capacity, as IMO 2023 rules force shipping operators to release them.

The examination of supply capacity and port congestion, and the maintenance and strengthening of shipping materials are due to the slow delivery of new ships, climate change, lands bureau and industrial operations, and so on.