Equity Research Analyst, Maritime sector, Drewry Maritime Financial Research

Ankush Kathuria CFA, FRM

Equity Research Analyst, Maritime sector

Maritime Sector, Equity & Credit Research

Drewry Maritime Financial Research

With no ties to other players in the shipping, finance or banking world, we provide a uniquely impartial view of the markets and companies we cover. Our parent organization, Drewry is a leading independent provider of research services to the maritime and shipping industry, employing over 100 professionals across an international network of offices in London, Delhi, Singapore and Shanghai. Combining our market-leading resources with seasoned sector expertise DFRS offers a highly differentiated and comprehensive range of investment and financial research services to lenders and prospective investors in publicly listed maritime and shipping companies. The full service of reports, supporting resources and sector orientated webinars provides our clients with the most complete picture of the organisations under coverage as is possible. We have been charting and analysing the world’s maritime markets for more than 40 years. This unrivalled intelligence and understanding provides the foundation of our research service. Our analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.

Equity Bottom-Up

We at DMER have been keeping a close watch on Hyundai Merchant Marine (011200 KS) through the year. We did not expect the company to go under and expected it to survive by a mix of creditor and shipowner led restructuring. <a href="https://www.smartkarma.com/insights/hyundai-merchant-marine-011200-ks-how-will-the-endgame-play-out" target="_blank">https://www.smartkarma.com/insights/hyundai-merchant-marine-011200-ks-how-will-the-endgame-play-out</a>, <a href="https://www.smartkarma.com/insights/hyundai-merchant-marine-011200-ks-pulls-back-from-bankruptcy," target="_blank">https://www.smartkarma.com/insights/hyundai-merchant-marine-011200-ks-pulls-back-from-bankruptcy,</a>  <a href="https://www.smartkarma.com/insights/hyundai-merchant-marine-011200-ks-gets-a-lifeline" target="_blank">https://www.smartkarma.com/insights/hyundai-merchant-marine-011200-ks-gets-a-</a>…

We at DMER have been keeping a close watch on Hyundai Merchant Marine (011200 KS) through the year. We did not expect the company to go under and expected it to survive by a mix of creditor and shipowner led restructuring. https://www.smartkarma.com/insights/hyundai-merchant-marine-011200-ks-how-will-the-endgame-play-out, https://www.smartkarma.com/insights/hyundai-merchant-marine-011200-ks-pulls-back-from-bankruptcy,  https://www.smartkarma.com/insights/hyundai-merchant-marine-011200-ks-gets-a-…

Hyundai Merchant Marine (011200 KS) - Living Dangerously, Details of Restructuring Emerge

In our last update on HMM <a href="https://www.smartkarma.com/insights/hyundai-merchant-marine-011200-ks-pulls-back-from-bankruptcy" target="_blank">https://www.smartkarma.com/insights/hyundai-merchant-marine-011200-ks-pulls-back-from-bankruptcy</a> we had outlined how DMER’s assessment of HMM’s recovery was playing out to a tee. HMM got another lifeline yesterday as the company signed an agreement to join the world’s largest container-shipping alliance, 2M led by Maersk Lien and MSC.  The stock is reacting well as risk of bankruptcy is further mitigated. When the news had surfaced we at Drewry termed it as an Odd Trio.…

In our last update on HMM https://www.smartkarma.com/insights/hyundai-merchant-marine-011200-ks-pulls-back-from-bankruptcy we had outlined how DMER’s assessment of HMM’s recovery was playing out to a tee. HMM got another lifeline yesterday as the company signed an agreement to join the world’s largest container-shipping alliance, 2M led by Maersk Lien and MSC.  The stock is reacting well as risk of bankruptcy is further mitigated. When the news had surfaced we at Drewry termed it as an Odd Trio.…

Hyundai Merchant Marine (011200 KS) - Gets a Lifeline ?

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Thematic (Sector/Industry)

The four major construction stocks in Korea <a href="https://www.smartkarma.com/entities/4292" target="_blank" data-smartkarma-citation="entities:4292">Hyundai Engineering &amp; Const</a>, <a href="https://www.smartkarma.com/entities/7699" target="_blank" data-smartkarma-citation="entities:7699">Hyundai Development Co Engg &amp; Cnstn</a>, <a href="https://www.smartkarma.com/entities/15916" target="_blank" data-smartkarma-citation="entities:15916">Gs Engineering &amp; Construct</a>, and <a href="https://www.smartkarma.com/entities/12333" target="_blank" data-smartkarma-citation="entities:12333">Daewoo Engineering &amp; Constr</a> share prices are on average down 10% from 13 April 2016 (in the same period KOSPI was up 0.3%) , post the election of the National Assembly members in Korea. We gave out a warning on 17 April 206 on these four Korean construction stocks <a href="https://www.smartkarma.com/insights/warning-on-korean-construction-stocks-ruling-saenuri-party-is-crushed-in-national-assembly-election" target="_blank" data-smartkarma-citation="insights:3422">Warning on Korean Construction Stocks: Ruling Saenuri Party Is Crushed in National Assembly</a>…

The four major construction stocks in Korea Hyundai Engineering &amp; Const, Hyundai Development Co Engg &amp; Cnstn, Gs Engineering &amp; Construct, and Daewoo Engineering &amp; Constr share prices are on average down 10% from 13 April 2016 (in the same period KOSPI was up 0.3%) , post the election of the National Assembly members in Korea. We gave out a warning on 17 April 206 on these four Korean construction stocks Warning on Korean Construction Stocks: Ruling Saenuri Party Is Crushed in National Assembly…

Close Out the Shorts on Korean Construction Stocks?

DMER’s assessment of HMM’s recovery is playing out to a tee<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/009/240/original/h1.JPG?1465953609" class="editor-image img-responsive" data-smartkarma-image-id="9240"></figure> <ul><li>
In our report titled “How will the Endgame play out?” released in Feb 2016 we had argued that HMM will be able to restructure and survive ( <a href="https://www.smartkarma.com/insights/hyundai-merchant-marine-011200-ks-how-will-the-endgame-play-out" target="_blank">https://www.smartkarma.com/insights/hyundai-merchant-marine-011200-ks-how-will-the-endgame-play-out</a>) . We believe the story is now turning out to be true as HMM’s financial difficulties seems to subside after its bondholders and financial lenders have agreed to debt rescheduling terms. As it stands,…</li></ul>

DMER’s assessment of HMM’s recovery is playing out to a tee 
In our report titled “How will the Endgame play out?” released in Feb 2016 we had argued that HMM will be able to restructure and survive ( https://www.smartkarma.com/insights/hyundai-merchant-marine-011200-ks-how-will-the-endgame-play-out) . We believe the story is now turning out to be true as HMM’s financial difficulties seems to subside after its bondholders and financial lenders have agreed to debt rescheduling terms. As it stands,…

Hyundai Merchant Marine (011200 KS) - Pulls Back from Bankruptcy ?

This is a follow-up to the warning on the Korean construction stocks which we issued more than a month ago. <a href="https://www.smartkarma.com/insights/warning-on-korean-construction-stocks-ruling-saenuri-party-is-crushed-in-national-assembly-election" target="_blank" data-smartkarma-citation="insights:3422">Warning on Korean Construction Stocks: Ruling Saenuri Party Is Crushed in National Assembly Election</a> We gave a strong warning on the four major construction stocks and they are down on average 7.2% from the end of the National Assembly Elections in Korea (about 5 weeks ago) to today, under performing KOSPI which is down 1.7% during the same period.  We continue to be bearish on the Korean…

This is a follow-up to the warning on the Korean construction stocks which we issued more than a month ago. Warning on Korean Construction Stocks: Ruling Saenuri Party Is Crushed in National Assembly Election We gave a strong warning on the four major construction stocks and they are down on average 7.2% from the end of the National Assembly Elections in Korea (about 5 weeks ago) to today, under performing KOSPI which is down 1.7% during the same period.  We continue to be bearish on the Korean…

Korean Construction Stocks - Household Debt Is the Achilles Heel

South Korea

HMM Co., Ltd. provides marine transportation services.  The Company commands different types of vessels including full container vessels, oil tankers, car carriers, LNG carriers, bulk carriers, and tramps.

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HMM Co., Ltd. (011200 KS)

Hyundai Merchant Marine (011200 KS) - Living Dangerously, Details of Restructuring Emerge

We at DMER have been keeping a close watch on Hyundai Merchant Marine (011200 KS) through the year. We did not expect the company to go under and...

Drewry Maritime Financial Research

Hyundai Merchant Marine (011200 KS) - Gets a Lifeline ?

In our last update on HMM https://www.smartkarma.com/insights/hyundai-merchant-marine-011200-ks-pulls-back-from-bankruptcy we had outlined how...

Drewry Maritime Financial Research

Close Out the Shorts on Korean Construction Stocks?

The four major construction stocks in Korea Hyundai Engineering & Const, Hyundai Development Co Engg & Cnstn, Gs Engineering &...

Douglas Kim

Hyundai Merchant Marine (011200 KS) - Pulls Back from Bankruptcy ?

DMER’s assessment of HMM’s recovery is playing out to a tee In our report titled “How will the Endgame play out?” released in Feb 2016 we...

Drewry Maritime Financial Research

Korean Construction Stocks - Household Debt Is the Achilles Heel

This is a follow-up to the warning on the Korean construction stocks which we issued more than a month ago. Warning on Korean Construction Stocks:...

Douglas Kim

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