According to Jin10, CITIC Securities said 3Q26 performance forecasts for the transportation and logistics sector continue to show divergent momentum, with cycle re-rating driving profit elasticity in oil shipping and container shipping, and oil shipping's main contradiction seeing a new driver again. The firm continued to recommend names benefiting from a new post-holiday surge in spot crude tanker rates, and also highlighted companies that may benefit from the effect of G7 releases of strategic crude and diesel inventories, high crack spreads, seasonal demand gains, and cross-region transport expected to lift refined-product shipping demand. In container shipping, shipowner profit growth is expected to become a key catalyst for valuations again, and the firm continued to recommend companies positioned for Red Sea narrative re-rating and stable cash flow that supports high dividends. It also said express delivery peak-season prices are recovering, while low growth is accelerating competitive differentiation. In air cargo, AI-chain-related sources were a key driver of air freight growth in the first half of the year, with a higher share of high-tech cargo with more stable schedules, and the firm is watching peak-season restocking demand and the profit impact of new capacity introductions. It also highlighted companies with low expectations and highly attractive risk-reward profiles, saying their counter-cyclical ability is becoming more evident.