Transport Sector, China and Asia-focused Research

Charles De Trenck

Equity Bottom-Up

I wasn’t in a hurry to write this up because the early victims were at once many and the bigger ones (like DAC) generally obvious. Our friends at Drewry are, of course, on the case.  Hanjin's silver lining for other container lines, as we have seen short-term rates spike to US and Europe. And there is now also some downside protection being provided by authorities, who are directing some Hanjin ships to unload at some ports (Singapore, Hamburg, Busan), which will allow unloading. Unfortunately…

I wasn’t in a hurry to write this up because the early victims were at once many and the bigger ones (like DAC) generally obvious. Our friends at Drewry are, of course, on the case.  Hanjin's silver lining for other container lines, as we have seen short-term rates spike to US and Europe. And there is now also some downside protection being provided by authorities, who are directing some Hanjin ships to unload at some ports (Singapore, Hamburg, Busan), which will allow unloading. Unfortunately…

The Hanjin Mess and a Quick Survey of Exposed Victims

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.

Rough waters ahead<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/009/243/original/hh1.JPG?1465955185" class="editor-image img-responsive" data-smartkarma-image-id="9243"></figure><ul><li>
Restructuring takes precedence: We believe it will be an uphill task to improve Hanjin’s balance sheet significantly and to outperform the stronger liners financially. Interest burden remains high and the risk of court receivership looms large considering its debt woes are similar to HMM. As it stands, the company is undergoing a creditor led restructuring exercise for which it needs to maintain certain pre-set conditions, such as the deferment of debt payments, charter rate…</li></ul>

Rough waters ahead
Restructuring takes precedence: We believe it will be an uphill task to improve Hanjin’s balance sheet significantly and to outperform the stronger liners financially. Interest burden remains high and the risk of court receivership looms large considering its debt woes are similar to HMM. As it stands, the company is undergoing a creditor led restructuring exercise for which it needs to maintain certain pre-set conditions, such as the deferment of debt payments, charter rate…

Hanjin Shipping (117930 KS) - Rough Waters Ahead

South Korea

Hanjin Shipping Co., Ltd. provides marine transportation service.  The Company commands different types of vessels including container vessels, liquefied natural gas (LNG) carriers, bulk carriers, and oil tankers.  In addition, Hanjin Shipping leases ships, and commercial buildings.

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Hanjin Shipping (117930 KS)

The Hanjin Mess and a Quick Survey of Exposed Victims

I wasn’t in a hurry to write this up because the early victims were at once many and the bigger ones (like DAC) generally obvious. Our friends at...

Charles De Trenck

Hanjin Shipping (117930 KS) - Rough Waters Ahead

Rough waters ahead Restructuring takes precedence: We believe it will be an uphill task to improve Hanjin’s balance sheet significantly and to...

Drewry Maritime Financial Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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