Award-winning Financial Journalist

Ashish Saxena

Equity Bottom-Up

Yangzijiang Shipbuilding / Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/660" target="_blank" data-smartkarma-citation="entities:660">Yangzijiang Shipbuilding</a> is in focus after orders worth US$ 510 mln from ICBC Leasing.Trading at about 12% above its multi-year lows, the stock appears attractive based on its order book, dividend yield, book value, latest earnings and brokers' targets.Recovery in Baltic Dry Index from 290 points on February 10 to 560 points as of today is likely to provide downside protection to investors.Read more to know how attractive are the stock's valuations and what investors should be careful about.…

Yangzijiang Shipbuilding is in focus after orders worth US$ 510 mln from ICBC Leasing.Trading at about 12% above its multi-year lows, the stock appears attractive based on its order book, dividend yield, book value, latest earnings and brokers' targets.Recovery in Baltic Dry Index from 290 points on February 10 to 560 points as of today is likely to provide downside protection to investors.Read more to know how attractive are the stock's valuations and what investors should be careful about.…

Yangzijiang Shipbuilding: Would You Bet On A 4.6% Tax-Exempt Dividend Yield In Less Than 45 Days?

Transport Sector, China and Asia-focused Research

Charles De Trenck

The BDI, the bulk index for dry commodities, has rebounded to 400 levels (still disastrous) &nbsp;from 300 levels a few weeks ago, with the small bounce no doubt also caught up in the recent iron ore excitement. The BDI short term did not seem to be affected by China announcing a new deal to build more supersized Valemaxes at Chinese yards. The deal is to build 30 x 400,000 dwt vessels for $2.5bn for deliveries beginning in 2018. At first I wasn&rsquo;t going to write this up. But then more related news items appeared to warrant underscoring a few points.

The BDI, the bulk index for dry commodities, has rebounded to 400 levels (still disastrous) &nbsp;from 300 levels a few weeks ago, with the small bounce no doubt also caught up in the recent iron ore excitement. The BDI short term did not seem to be affected by China announcing a new deal to build more supersized Valemaxes at Chinese yards. The deal is to build 30 x 400,000 dwt vessels for $2.5bn for deliveries beginning in 2018. At first I wasn&rsquo;t going to write this up. But then more related news items appeared to warrant underscoring a few points.

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)

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

Another report of potential suitors made it to market on Friday, forcing NOL to disclose there have been talks with French carrier CMA and global leader Maersk. NOL&rsquo;s shares rose some 6% to $1.05 and closer to book NAV per share around&nbsp;S$1.4 (and higher when the US dollar drifts higher). But what would make a potential transaction more interesting, if at all, keeping in mind the Hapag IPO pricing was about 25% below the original high end of the range?

Another report of potential suitors made it to market on Friday, forcing NOL to disclose there have been talks with French carrier CMA and global leader Maersk. NOL&rsquo;s shares rose some 6% to $1.05 and closer to book NAV per share around&nbsp;S$1.4 (and higher when the US dollar drifts higher). But what would make a potential transaction more interesting, if at all, keeping in mind the Hapag IPO pricing was about 25% below the original high end of the range?

NOL's Latest Potential Merger Discussions... Where is the [Partial] Exit for Temasek?

Head of Digital Services at Singapore Post Ltd, Singapore Post Limited

Bernard Leong

Head of Digital Services at Singapore Post Ltd

Singapore Post Limited

How should digital leaders advise businesses? Two ways: target the high and low ends of the market while allowing cannibalisation against their current business model in a controlled pace.&nbsp;The trick lies in capital allocation and separation of the products/services moving towards both ends. Digital products often require high cost of acquisition contrary to perception by businesses that it is cheaper against traditional channels.

How should digital leaders advise businesses? Two ways: target the high and low ends of the market while allowing cannibalisation against their current business model in a controlled pace.&nbsp;The trick lies in capital allocation and separation of the products/services moving towards both ends. Digital products often require high cost of acquisition contrary to perception by businesses that it is cheaper against traditional channels.

Digital disruption bifurcates traditional market segmentation

Singapore

Yangzijiang Shipbuilding (Holdings) Limited builds a wide range of ships. The Company produces a wide range of commercial vessels, mini bulk carriers, multi-purpose cargo vessels, containerships, chemical tankers, offshore supply vessels, rescue and salvage vessels, and lifting vessels.

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Yangzijiang Shipbuilding (YZJSGD SP)

Yangzijiang Shipbuilding: Would You Bet On A 4.6% Tax-Exempt Dividend Yield In Less Than 45 Days?

Yangzijiang Shipbuilding is in focus after orders worth US$ 510 mln from ICBC Leasing.Trading at about 12% above its multi-year lows, the stock...

Ashish Saxena

China's Ship Subsidies from Hell

The BDI, the bulk index for dry commodities, has rebounded to 400 levels (still disastrous) from 300 levels a few weeks ago, with the small bounce...

Charles De Trenck

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

NOL's Latest Potential Merger Discussions... Where is the [Partial] Exit for Temasek?

Another report of potential suitors made it to market on Friday, forcing NOL to disclose there have been talks with French carrier CMA and global...

Charles De Trenck

Digital disruption bifurcates traditional market segmentation

How should digital leaders advise businesses? Two ways: target the high and low ends of the market while allowing cannibalisation against their...

Bernard Leong

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