https://dark-hole.com/tags/%E8%88%AA%E8%BF%90%E5%91%A8%E6%9C%9F/ Recent content in 航运周期 on 黑洞研报 https://dark-hole.com/images/papermod-cover.png https://dark-hole.com/images/papermod-cover.png Hugo -- 0.154.5 zh-cn Tue, 15 Sep 2026 00:00:00 +0000 https://dark-hole.com/posts/20260915_00005/ Tue, 15 Sep 2026 00:00:00 +0000 https://dark-hole.com/posts/20260915_00005/ 马士基拟投入约89亿美元建造最多42艘大型集装箱船，背后不是简单补船，而是对未来航运盈利中枢和船队规模的重新判断。