Equity analyst - Containers, Drewry Maritime Financial Research

Nilesh Tiwary

Equity analyst - Containers

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

<p><strong>Problems galore:</strong> HMM’s woes seem to be compounding, despite the industry facing one of its best periods in 2017. Not only did the company fail to register a single profit last year, but has even failed to contain its ballooning debt. As of 3Q17, HMM’s overall debt of KRW 2tr (USD 1.8bn) and net gearing of 250% is among the highest in the industry. Additionally, even if the scenario unfolds positively starting 2019, the charter payments will come back to haunt the company, raising its operating…</p>

Problems galore: HMM’s woes seem to be compounding, despite the industry facing one of its best periods in 2017. Not only did the company fail to register a single profit last year, but has even failed to contain its ballooning debt. As of 3Q17, HMM’s overall debt of KRW 2tr (USD 1.8bn) and net gearing of 250% is among the highest in the industry. Additionally, even if the scenario unfolds positively starting 2019, the charter payments will come back to haunt the company, raising its operating…

Hyundai Merchant Marine - Recovery Not in Sight

HMM Co., Ltd.

Hyundai Merchant Marine - Recovery Not in Sight