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

Pacific Basin Shipping / Equity Bottom-Up

DFRS Dry Bulk Shipping - Street Catching up to the Rally Now, Driven Solely by Momentum We were early buyers on the Dry Bulk sector upgrading the sector middle of last year. In our last year updates, we had said that recovery in dry bulk stocks will be led by investors accepting that there is indeed a sector normalization in play and sheer dislike and under-ownership will see the stocks gain and also provide a floor for the rally to build. <a href="https://www.smartkarma.com/insights/dmer-dry-bulk-shipping-under-owned-normalization-leading-to-investor-sentiment-turning-bullish" target="_blank">https://www.smartkarma.com/insights/dmer-dry-bulk-shippi</a>…

DFRS Dry Bulk Shipping - Street Catching up to the Rally Now, Driven Solely by Momentum We were early buyers on the Dry Bulk sector upgrading the sector middle of last year. In our last year updates, we had said that recovery in dry bulk stocks will be led by investors accepting that there is indeed a sector normalization in play and sheer dislike and under-ownership will see the stocks gain and also provide a floor for the rally to build. https://www.smartkarma.com/insights/dmer-dry-bulk-shippi…

DFRS Dry Bulk Shipping - Street Catching up to the Rally Now, Driven Solely by Momentum

Transport Sector, China and Asia-focused Research

Charles De Trenck

Orient Overseas (International) / Equity Bottom-Up

Don’t get me wrong. I still like <a href="https://www.smartkarma.com/entities/801" target="_blank" data-smartkarma-citation="entities:801:1">Orient Overseas Intl Ltd (316 HK)</a>, OOIL/OOCL, as an operator long term. Always have. And I may come back at another price or time. But there are a few issues worth drawing out, now that analysts have gone gaga over shipping – including notably <a href="https://www.smartkarma.com/entities/286" target="_blank" data-smartkarma-citation="entities:286:1">China COSCO Holdings (H) (1919 HK)</a> which is at some 3x OOIL on a P/B and which still is not fit for long term investing. I list my reasons in selling OOIL in easy bullets further below.OOIL was at HK$30 when I bought and…

Don’t get me wrong. I still like Orient Overseas Intl Ltd (316 HK), OOIL/OOCL, as an operator long term. Always have. And I may come back at another price or time. But there are a few issues worth drawing out, now that analysts have gone gaga over shipping – including notably China COSCO Holdings (H) (1919 HK) which is at some 3x OOIL on a P/B and which still is not fit for long term investing. I list my reasons in selling OOIL in easy bullets further below.OOIL was at HK$30 when I bought and…

Why I Just Sold Orient Overseas (OOIL) At HK$45

DFRS Trading Idea 2017 #1 - Pacific Basin (2343 HK) - Time to Play Catch UpWe have been strong buyers of Pacific basin since April last year and it remains one of our favored picks in the Asian shipping sector. <a href="https://www.smartkarma.com/insights/pacific-basin-2343-hk-rights-issue-settles-debt-concerns-upgrade-to-attractive" target="_blank">https://www.smartkarma.com/insights/pacific-basin-2343-hk-rights-issue-settles-debt-concerns-upgrade-to-attractive</a>, <a href="https://www.smartkarma.com/insights/pacific-basin-2343-hk-not-too-late-to-get-onboard" target="_blank">https://www.smartkarma.com/insights/pacific-basin-2343-hk-not-too-late-to-get-onboard</a> &amp; <a href="https://www.smartkarma.com/insights/pacific-basin-2343-hk-sequential-improvement-in-rates-continues-to-outperform-the-market-rates" target="_blank">https://www.smartkarma.com/insights/pacific-basin-2343-hk-sequential-improvement-in-r</a>…

DFRS Trading Idea 2017 #1 - Pacific Basin (2343 HK) - Time to Play Catch UpWe have been strong buyers of Pacific basin since April last year and it remains one of our favored picks in the Asian shipping sector. https://www.smartkarma.com/insights/pacific-basin-2343-hk-rights-issue-settles-debt-concerns-upgrade-to-attractive, https://www.smartkarma.com/insights/pacific-basin-2343-hk-not-too-late-to-get-onboard &amp; https://www.smartkarma.com/insights/pacific-basin-2343-hk-sequential-improvement-in-r…

DFRS Trading Idea 2017 #1 - Pacific Basin (2343 HK) - Time to Play Catch Up

DRYS has now spiked (before suspension) more than 2000% post Trump and as the BDI (Baltic Dry Index) popped above 1,000. Most of the trading activity in US shipping names has happened over the last two days. As a result, we had multiple TV segments on CNBC on Wednesday on these shares. The <a href="http://blogs.wsj.com/moneybeat/2016/11/16/unmoored-from-reality-dryships-halted-after-1500-post-election-rally/" target="_blank">WSJ</a> also took to writing on the topic for generalist readers. …This funky stock roller coaster, as well as longer-term stock holds are quickly recapped further below.The worst shipping companies, including…

DRYS has now spiked (before suspension) more than 2000% post Trump and as the BDI (Baltic Dry Index) popped above 1,000. Most of the trading activity in US shipping names has happened over the last two days. As a result, we had multiple TV segments on CNBC on Wednesday on these shares. The WSJ also took to writing on the topic for generalist readers. …This funky stock roller coaster, as well as longer-term stock holds are quickly recapped further below.The worst shipping companies, including…

Shipping Stocks Go Bananas, the Worst Rising the Most

Dry Bulk Shipping - The Overweight on Dry Bulk Is Paying off HandsomelyWe have earlier advocated that “ the normalisation process will lead to great opportunities even with incremental gains in the underlying markets as discount to Net Asset Values narrow. With the market bottoming out, we place our bets on the dry bulk names with high operating leverage and considerable exposure to the spot market. We expect the uptrend in freight rates to mirror in asset prices, which in turn, will have an…

Dry Bulk Shipping - The Overweight on Dry Bulk Is Paying off HandsomelyWe have earlier advocated that “ the normalisation process will lead to great opportunities even with incremental gains in the underlying markets as discount to Net Asset Values narrow. With the market bottoming out, we place our bets on the dry bulk names with high operating leverage and considerable exposure to the spot market. We expect the uptrend in freight rates to mirror in asset prices, which in turn, will have an…

DMER-Dry Bulk Shipping - The Overweight on Dry Bulk Is Paying off Handsomely

Hong Kong

Pacific Basin Shipping is a maritime transport company specializing in international dry bulk shipping, operating a global fleet of Handysize and Supramax vessels. The company transports a wide range of commodities including grains, coal, iron ore, cement, and forest products. It was founded in 1987 and is headquartered in Hong Kong.

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Pacific Basin Shipping (2343 HK)

DFRS Dry Bulk Shipping - Street Catching up to the Rally Now, Driven Solely by Momentum

DFRS Dry Bulk Shipping - Street Catching up to the Rally Now, Driven Solely by Momentum We were early buyers on the Dry Bulk sector upgrading...

Drewry Maritime Financial Research

Why I Just Sold Orient Overseas (OOIL) At HK$45

Don’t get me wrong. I still like Orient Overseas Intl Ltd (316 HK), OOIL/OOCL, as an operator long term. Always have. And I may come back at...

Charles De Trenck

DFRS Trading Idea 2017 #1 - Pacific Basin (2343 HK) - Time to Play Catch Up

DFRS Trading Idea 2017 #1 - Pacific Basin (2343 HK) - Time to Play Catch UpWe have been strong buyers of Pacific basin since April last year and it...

Drewry Maritime Financial Research

Shipping Stocks Go Bananas, the Worst Rising the Most

DRYS has now spiked (before suspension) more than 2000% post Trump and as the BDI (Baltic Dry Index) popped above 1,000. Most of the trading...

Charles De Trenck

DMER-Dry Bulk Shipping - The Overweight on Dry Bulk Is Paying off Handsomely

Dry Bulk Shipping - The Overweight on Dry Bulk Is Paying off HandsomelyWe have earlier advocated that “ the normalisation process will lead to...

Drewry Maritime Financial Research

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