China Macroeconomics & Academia

Christopher Balding

Macroeconomics

Chinese economic activity appears to be stabilizing in April.  We are not witnessing a pullback from the expansion in the real economy we saw post Chinese New Year in March but nor are we witnessing continued expansion.  Given the explosion in credit, the relative lack of continued expansion should be cause for concern.

Chinese economic activity appears to be stabilizing in April.  We are not witnessing a pullback from the expansion in the real economy we saw post Chinese New Year in March but nor are we witnessing continued expansion.  Given the explosion in credit, the relative lack of continued expansion should be cause for concern.

Chinese Flash Numbers Fail to Build on Post-New Year Bounce

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)

Last year saw a record amount of container-ship capacity hit the water. We take a look at which operators accepted delivery and which trades they deployed them in. Record delieveries, record maximum ship size.  Last year was full of records in the container shipping industry, but unfortunately for carriers they were mostly of the unwanted variety. One such record (made by bad by virtue of the second worst ever demand growth) was a record intake of new ships. There were 209 new ships that hit the…

Last year saw a record amount of container-ship capacity hit the water. We take a look at which operators accepted delivery and which trades they deployed them in. Record delieveries, record maximum ship size.  Last year was full of records in the container shipping industry, but unfortunately for carriers they were mostly of the unwanted variety. One such record (made by bad by virtue of the second worst ever demand growth) was a record intake of new ships. There were 209 new ships that hit the…

Container Shipping - 2015 Full of Records, Big Ships, Super Size Me and It Ain't Over Yet

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

The Baltic Dry Index - once a quaint indicator for shipping sector wonks to figure out expected marginal profitability of shippers who ran a greater or lesser portion of their fleet on spot rather than term charter or long-term lease - is now used by stock punters as "evidence" of dynamic demand for shipping services for commodities, and therefore underlying economic pull demand from the secondary sector (heavy and light industry), particularly in China. The big news is that it has bounced 105%…

The Baltic Dry Index - once a quaint indicator for shipping sector wonks to figure out expected marginal profitability of shippers who ran a greater or lesser portion of their fleet on spot rather than term charter or long-term lease - is now used by stock punters as "evidence" of dynamic demand for shipping services for commodities, and therefore underlying economic pull demand from the secondary sector (heavy and light industry), particularly in China. The big news is that it has bounced 105%…

Baltic Dry: 30yrs of Stats Tells You The Bounce You Now See Is Seasonal. Again.

Transport Sector, China and Asia-focused Research

Charles De Trenck

My updates back in December to reiterate the negative in containers (and bulk) and anticipated a weak 2016, to be sure. But in recent weeks it appears the market has gotten even weaker. I am sure our friends from Drewry have experienced this as well. A few key details below on rates that have gone even further south than 2009.In recent weeks we understand from friends that some markets in Intra-Asia have gone into negative pricing.This means that lines have to try to recoup some of their losses…

My updates back in December to reiterate the negative in containers (and bulk) and anticipated a weak 2016, to be sure. But in recent weeks it appears the market has gotten even weaker. I am sure our friends from Drewry have experienced this as well. A few key details below on rates that have gone even further south than 2009.In recent weeks we understand from friends that some markets in Intra-Asia have gone into negative pricing.This means that lines have to try to recoup some of their losses…

Container Shipping Industry Last Few Weeks Factoring in Doomsday

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyse the changes of A-H premium on 181 stocks over the last week. The average A-H premium was 70.1% as of Apr 3rd.</li>
<li>The average A-H premium changed by 0.7ppt week-on-week, led by energy, financials, health care and offset by industrials, consumer discretionary.</li>
<li>We highlight weekly changes in A-H premium for Great Wall Motor, China Coal Energy, China Minsheng Banking, China Everbright Bank, CHALCO, Crrc.</li>
</ul>


We analyse the changes of A-H premium on 181 stocks over the last week. The average A-H premium was 70.1% as of Apr 3rd.
The average A-H premium changed by 0.7ppt week-on-week, led by energy, financials, health care and offset by industrials, consumer discretionary.
We highlight weekly changes in A-H premium for Great Wall Motor, China Coal Energy, China Minsheng Banking, China Everbright Bank, CHALCO, Crrc.


A-H Premium Weekly (Apr 3rd): Great Wall Motor, China Coal Energy, China Minsheng Banking

China

Guangshen Railway Company Limited provides railroad passenger, freight transportation, railway facilities, and technical services.  The Company also sells food, beverages and merchandise on aboard and in train stations.

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Guangshen Railway Co Ltd A (601333 CH)

Chinese Flash Numbers Fail to Build on Post-New Year Bounce

Chinese economic activity appears to be stabilizing in April. We are not witnessing a pullback from the expansion in the real economy we saw post...

Christopher Balding

Container Shipping - 2015 Full of Records, Big Ships, Super Size Me and It Ain't Over Yet

Last year saw a record amount of container-ship capacity hit the water. We take a look at which operators accepted delivery and which trades they...

Drewry Maritime Financial Research

Baltic Dry: 30yrs of Stats Tells You The Bounce You Now See Is Seasonal. Again.

The Baltic Dry Index - once a quaint indicator for shipping sector wonks to figure out expected marginal profitability of shippers who ran a...

Travis Lundy

Container Shipping Industry Last Few Weeks Factoring in Doomsday

My updates back in December to reiterate the negative in containers (and bulk) and anticipated a weak 2016, to be sure. But in recent weeks it...

Charles De Trenck

A-H Premium Weekly (Apr 3rd): Great Wall Motor, China Coal Energy, China Minsheng Banking

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Great Wall Motor, China Coal Energy, China Minsheng Banking,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)