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.

Thematic (Sector/Industry)

Oil tanker market has been pretty strong past couple of days with rates on benchmark AG-Japan trade crossing $80,000 per day. Higher number if cargoes have supported the demand with West African chartering activity rising the to highest level since January. There has been some notable spike in Chinese demand as well. We would like to highlight another key factor which could be underpinning the market in short term, the return of floating storage. After a brief period of profitable window in…

Oil tanker market has been pretty strong past couple of days with rates on benchmark AG-Japan trade crossing $80,000 per day. Higher number if cargoes have supported the demand with West African chartering activity rising the to highest level since January. There has been some notable spike in Chinese demand as well.  We would like to highlight another key factor which could be underpinning the market in short term, the return of floating storage. After a brief period of profitable window in…

Brimming Onshore Storage Forcing Traders Towards Oil Tankers

Stocks down on gloomy industry outlook<figure class="editor-figure"><img src="https://static-prod.smartkarma.com/images/media/000/005/164/original/Leasing%20Perf.JPG?1453688159" class="editor-image img-responsive" data-smartkarma-image-id="5164"></figure> Source: Bloomberg, DMER<ul>
<li>Investors suffered massive wealth erosion in 2015, as share prices of container leasing companies tumbled through the year with stocks extending declines until the beginning of the new year. While the stocks of the three companies under our coverage – Textainer, TAL and CAI – more than halved, the two indices of S&amp;P 500 and Dow Jones Transportation contracted by just 1% and 18%, respectively.</li>
<li>
Container shipping and leasing companies…</li>
</ul>

 Stocks down on gloomy industry outlook Source: Bloomberg, DMER
Investors suffered massive wealth erosion in 2015, as share prices of container leasing companies tumbled through the year with stocks extending declines until the beginning of the new year. While the stocks of the three companies under our coverage – Textainer, TAL and CAI – more than halved, the two indices of S&amp;P 500 and Dow Jones Transportation contracted by just 1% and 18%, respectively.

Container shipping and leasing companies…


Container Leasing 2016 - Outlook Remains Placid

<figure class="editor-figure">Moderation likely but it ain't over yet<img src="https://static-prod.smartkarma.com/images/media/000/005/034/original/Tank%20Price%20Performance.JPG?1453075386" class="editor-image img-responsive" data-smartkarma-image-id="5034"></figure> Source: Bloomberg, DMER<ul>
<li>The uptrend in share prices that started in the tail end of FY14 continued in 2015 mainly on prospects of improved profitability of companies in a demand-driven market. The market capitalisation of DMER’s tanker shipping index moved up by ~USD 1.8bn because of the upsurge in stock prices and generated a return of ~27% during the year.</li>
<li>
Nordic American Tanker enjoyed the benefits of full exposure to the spot market as day rates remained…</li>
</ul>

Moderation likely but it ain't over yet Source: Bloomberg, DMER
The uptrend in share prices that started in the tail end of FY14 continued in 2015 mainly on prospects of improved profitability of companies in a demand-driven market. The market capitalisation of DMER’s tanker shipping index moved up by ~USD 1.8bn because of the upsurge in stock prices and generated a return of ~27% during the year.

Nordic American Tanker enjoyed the benefits of full exposure to the spot market as day rates remained…


Tanker Shipping-2016 - Moderation Likely but It Ain't over Yet, The Preferred Investment In Shipping

Transport Sector, China and Asia-focused Research

Charles De Trenck

Our theme has been to expect some mergers in container equipment and transport equipment owners. NOL and Chinese carriers are also exploring options, as discussed in last few months. But today we have a live deal between Triton and TAL Int'l Group which will create the largest container lessor through a "merger of equals". Let's review a few more points and issues.

Our theme has been to expect some mergers in container equipment and transport equipment owners. NOL and Chinese carriers are also exploring options, as discussed in last few months. But today we have a live deal between Triton and TAL Int'l Group which will create the largest container lessor through a "merger of equals". Let's review a few more points and issues.

Container Equipment Mergers Here: TAL Int'l to Merge with Triton

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Jacobs presented strong fiscal third-quarter 2025 results, with both adjusted EPS and revenue targets meeting or surpassing expectations.</li><li>The quarter was marked by a 25% increase in adjusted EPS to $1.62, buoyed by net revenue growth of 7% and substantial year-over-year margin expansion.</li><li>The company's backlog grew 14% to a record $23 billion, and bookings maintained a positive trajectory, positioning Jacobs favorably for upcoming quarters.</li></ul>

Jacobs presented strong fiscal third-quarter 2025 results, with both adjusted EPS and revenue targets meeting or surpassing expectations.The quarter was marked by a 25% increase in adjusted EPS to $1.62, buoyed by net revenue growth of 7% and substantial year-over-year margin expansion.The company's backlog grew 14% to a record $23 billion, and bookings maintained a positive trajectory, positioning Jacobs favorably for upcoming quarters.

Jacobs Solutions: An Advanced Facilities & Water Sector Momentum for Future Revenue Growth & Project Execution!

United States

Jacobs Solutions Inc. provides technical professional services. The Company offers engineering and construction services, as well as scientific and specialty consulting for a broad range of clients including companies, organizations, and government agencies. Jacobs Solutions serves customers worldwide.

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Jacobs Solutions (J US)

Brimming Onshore Storage Forcing Traders Towards Oil Tankers

Oil tanker market has been pretty strong past couple of days with rates on benchmark AG-Japan trade crossing $80,000 per day. Higher number if...

Drewry Maritime Financial Research

Container Leasing 2016 - Outlook Remains Placid

Stocks down on gloomy industry outlook Source: Bloomberg, DMER Investors suffered massive wealth erosion in 2015, as share prices of container...

Drewry Maritime Financial Research

Tanker Shipping-2016 - Moderation Likely but It Ain't over Yet, The Preferred Investment In Shipping

Moderation likely but it ain't over yet Source: Bloomberg, DMER The uptrend in share prices that started in the tail end of FY14 continued in 2015...

Drewry Maritime Financial Research

Container Equipment Mergers Here: TAL Int'l to Merge with Triton

Our theme has been to expect some mergers in container equipment and transport equipment owners. NOL and Chinese carriers are also exploring...

Charles De Trenck

Jacobs Solutions: An Advanced Facilities & Water Sector Momentum for Future Revenue Growth & Project Execution!

Jacobs presented strong fiscal third-quarter 2025 results, with both adjusted EPS and revenue targets meeting or surpassing expectations. The...

Baptista Research

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