Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Thematic (Sector/Industry)

<h2>Overview</h2>Since <a href="https://www.smartkarma.com/entities/18689" target="_blank" data-smartkarma-citation="entities:18689:1">Hanjin Shipping Co Ltd (117930 KS)</a> declared bankruptcy at the end of August 2016, market conditions in long-haul container shipping have improved substantially. The removal of Hanjin's capacity (and it's aggressive pricing tactics) combined with a modest improvement in demand led to a strong improvement in freight rates in most long-haul markets since the end of Q3 last year. In addition, a series of recent mergers and acquisitions in the sector, plus new carrier alliances that…

OverviewSince Hanjin Shipping Co Ltd (117930 KS) declared bankruptcy at the end of August 2016, market conditions in long-haul container shipping have improved substantially. The removal of Hanjin's capacity (and it's aggressive pricing tactics) combined with a modest improvement in demand led to a strong improvement in freight rates in most long-haul markets since the end of Q3 last year. In addition, a series of recent mergers and acquisitions in the sector, plus new carrier alliances that…

Evergreen, Yang Ming Q217 Results Show Sharp Recovery Since Hanjin Bankruptcy in Q316; Now What?

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Equity Bottom-Up

Orient Overseas (International) / Equity Bottom-Up

<ul>
<li>Spot freight rates are fading again in mid-April, despite ongoing conflict in Strait of Hormuz</li>
<li>Spot fuel prices remain high and we believe Q126 OP margins will show sharp compression</li>
<li>We expect shares in container segment to give back all of March's gains, and then some</li>
</ul>


Spot freight rates are fading again in mid-April, despite ongoing conflict in Strait of Hormuz
Spot fuel prices remain high and we believe Q126 OP margins will show sharp compression
We expect shares in container segment to give back all of March's gains, and then some


Monthly Container Shipping Tracker | March Price Weak, April Spot Rates, Too | Fuel Starting to Bite

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.

Ominous start to the year for container shipping with Drewry forecasting container shipping profitability to deteriorate in 2016. Ocean freight rates for cargo moving under contracts on the major East-West trade routes witnessing another reduction in the last quarter of 2015, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight rates. The Drewry Benchmarking Club Contract Rate Index, based on Trans…

Ominous start to the year for container shipping with Drewry forecasting container shipping profitability to deteriorate in 2016. Ocean freight rates for cargo moving under contracts on the major East-West trade routes witnessing another reduction in the last quarter of 2015, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight rates. The Drewry Benchmarking Club Contract Rate Index, based on Trans…

2016 - Washout Year for Container Shipping

AP Moeller - Maersk A/S / Equity Bottom-Up

<ul>
<li>Iran Conflict has driven up fuel prices near-term, which will eat into carrier profitability</li>
<li>But the conflict also delays potential Suez re-opening, which is positive for supply side</li>
<li>Shares of carriers have mostly jumped in March, with some up as much as 11% MTD </li>
</ul>


Iran Conflict has driven up fuel prices near-term, which will eat into carrier profitability
But the conflict also delays potential Suez re-opening, which is positive for supply side
Shares of carriers have mostly jumped in March, with some up as much as 11% MTD 


Monthly Container Shipping Tracker | Iran Conflict Lifts Fuel Prices, Spot Rates, & Carrier Shares

<ul>
<li>Deep-Sea container rates turned weaker again in Jan-Feb, likely obliterating carrier profits</li>
<li>Another round of US tariff uncertainty should dampen near-term NAM demand further</li>
<li>Excess supply, Suez re-opening, now US tariff chaos? SHORT deep-sea container carriers</li>
</ul>


Deep-Sea container rates turned weaker again in Jan-Feb, likely obliterating carrier profits
Another round of US tariff uncertainty should dampen near-term NAM demand further
Excess supply, Suez re-opening, now US tariff chaos? SHORT deep-sea container carriers


Monthly Container Shipping Tracker | Weak Price in Jan-Feb | Softer NAM Demand | Now US Tariff Mess

Taiwan

Yang Ming Marine Transport provides transportation services and handles domestic and foreign maritime services on cargos.  The Company also operates warehouse, wharf, tug, barge, and container freight station services as well as repairs, leases, and sells containers and chassis.

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Yang Ming Marine Transport (2609 TT)

Evergreen, Yang Ming Q217 Results Show Sharp Recovery Since Hanjin Bankruptcy in Q316; Now What?

OverviewSince Hanjin Shipping Co Ltd (117930 KS) declared bankruptcy at the end of August 2016, market conditions in long-haul container shipping...

Daniel Hellberg

Monthly Container Shipping Tracker | March Price Weak, April Spot Rates, Too | Fuel Starting to Bite

March price momentum remained weak, and now in mid-April spot rates are beginning to fall. Fuel costs have risen sharply, and Q1-Q2 carrier margins...

Tracking Traffic

2016 - Washout Year for Container Shipping

Ominous start to the year for container shipping with Drewry forecasting container shipping profitability to deteriorate in 2016. Ocean freight...

Drewry Maritime Financial Research

Monthly Container Shipping Tracker | Iran Conflict Lifts Fuel Prices, Spot Rates, & Carrier Shares

The conflict in Iran has lead to a doubling of fuel prices, which adds to pressure on container carrier profitability. The group's outperformance...

Tracking Traffic

Monthly Container Shipping Tracker | Weak Price in Jan-Feb | Softer NAM Demand | Now US Tariff Mess

January and February deep-sea container rates have softened noticeably, probably wiping out most carriers' profit margins altogether. Conditions...

Tracking Traffic

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