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)

<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>
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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

Allison Transmission Holdings / Equity Bottom-Up

<ul><li>Allison Transmission's recent earnings call highlighted a mix of strategic initiatives, industry achievements, and both financial performance and adjustments that are significant to potential investors.</li><li>The acquisition of Dana Incorporated's Off-Highway business reflects a key strategic move to broaden the company’s global reach, diversify its markets, and optimize its operational efficiencies.</li><li>This transaction, which carries a purchase price of approximately $2.7 billion, is expected to extend Allison Transmission's capabilities into additional markets, such as agriculture and construction, while promising significant synergy benefits of up to $120 million annually.</li></ul>

Allison Transmission's recent earnings call highlighted a mix of strategic initiatives, industry achievements, and both financial performance and adjustments that are significant to potential investors.The acquisition of Dana Incorporated's Off-Highway business reflects a key strategic move to broaden the company’s global reach, diversify its markets, and optimize its operational efficiencies.This transaction, which carries a purchase price of approximately $2.7 billion, is expected to extend Allison Transmission's capabilities into additional markets, such as agriculture and construction, while promising significant synergy benefits of up to $120 million annually.

Allison Transmission: Accelerating Global Market Presence With A $2.7 Billion Game-Changing Acquisition!

<ul><li>Allison Transmission's first-quarter 2025 financial performance reflects a company navigating a complex market environment with notable achievements and challenges.</li><li>The company reported a 3% year-over-year decrease in net sales to $766 million.</li><li>This decline was primarily due to lower demand for medium-duty trucks, although offset by a 4% increase in sales in North America's on-highway market, driven by price increases in Class 8 vocational trucks and strengthening defense market sales.</li></ul>

Allison Transmission's first-quarter 2025 financial performance reflects a company navigating a complex market environment with notable achievements and challenges.The company reported a 3% year-over-year decrease in net sales to $766 million.This decline was primarily due to lower demand for medium-duty trucks, although offset by a 4% increase in sales in North America's on-highway market, driven by price increases in Class 8 vocational trucks and strengthening defense market sales.

Allison Transmission: Growth in International Defense Markets As A Significant Growth Enabler In The Foreseeable Future!

<ul><li>Allison Transmission's first quarter 2025 earnings painted a detailed picture of the company's current standing, plans, and challenges.</li><li>Notably, the report highlighted a slight drop in year-over-year net sales by 3% to $766 million.</li><li>Despite this, there were commendable areas of growth, such as a 4% increase in the North American On Highway market, driven by price increments and a robust demand for Class 8 vocational trucks.</li></ul>

Allison Transmission's first quarter 2025 earnings painted a detailed picture of the company's current standing, plans, and challenges.Notably, the report highlighted a slight drop in year-over-year net sales by 3% to $766 million.Despite this, there were commendable areas of growth, such as a 4% increase in the North American On Highway market, driven by price increments and a robust demand for Class 8 vocational trucks.

Allison Transmission: Will Its Focus On Defense Market Opportunities Pay Off?

United States

Allison Transmission Holdings, Inc. manufactures fully-automatic transmissions for medium and heavy-duty commercial vehicles, medium and heavy-tactical U.S. military vehicles, and hybrid-propulsion systems for transit buses.  The Company's products are used in a variety of applications.

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Allison Transmission Holdings (ALSN US)

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

Allison Transmission: Accelerating Global Market Presence With A $2.7 Billion Game-Changing Acquisition!

Allison Transmission's recent earnings call highlighted a mix of strategic initiatives, industry achievements, and both financial performance and...

Baptista Research

Allison Transmission: Growth in International Defense Markets As A Significant Growth Enabler In The Foreseeable Future!

Allison Transmission's first-quarter 2025 financial performance reflects a company navigating a complex market environment with notable...

Baptista Research

Allison Transmission: Will Its Focus On Defense Market Opportunities Pay Off?

Allison Transmission's first quarter 2025 earnings painted a detailed picture of the company's current standing, plans, and challenges. Notably,...

Baptista Research

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