兴业证券:供需具有利好因素 看好干散货航运未来上行空间

智通财经
Dec 24, 2025

智通财经APP获悉,兴业证券发布研报称,干散货航运需求端具有多种利好因素,供给端增量较有限,有望步入新一轮上行周期。从需求端看,煤炭、粮食等货种需求仍有支撑,而几内亚西芒杜铁矿发运、铝土矿输出持续增长以及俄乌、巴以未来战后重建均带来利好期权;从供给端看,高船价、长排期压制下,未来数年供给难以转向宽松。该行预计干散货航运未来数年将进入温和复苏周期,随着运量、运距需求的逐步增长,运价中枢有望逐步抬升。...

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