Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Focusing on Asian logistics, transportation, and travel companies

Asian Equities Analyst, Logistics & Transport

Disposal of CIMC Boosted CMP's 1H; M&A a Dominant Theme for 2017

Is China's Container Traffic Going Ex-Growth? Update on China Merchants Port Holdings 144:HK

Global Logistic Properties (GLP:SP) May Provide an Antidote to China's Congestion Woes

Equity Bottom-Up

<p>In line with September's macro numbers (see <a href="https://www.smartkarma.com/insights/china-exports-fall-but-reforms-apace" target="_blank" data-smartkarma-citation="insights:6500">China: Exports Fall but Reforms Apace</a> and <a href="https://www.smartkarma.com/insights/chinese-trade-data-recap-it-isn-t-pretty" target="_blank" data-smartkarma-citation="insights:6443">Chinese Trade Data Recap: It Isn’t Pretty</a>), organic growth reported by the two largest Chinese port operators remained weak last month. In this note we quickly review September throughput numbers for both <a href="https://www.smartkarma.com/entities/15155" target="_blank" data-smartkarma-citation="entities:15155:1">China Merchants Port Holdings Company Ltd. (144 HK)</a> and <a href="https://www.smartkarma.com/entities/360" target="_blank" data-smartkarma-citation="entities:360:1">COSCO Pacific Ltd (1199 HK)</a>. We point out that while organic growth at Chinese ports remains weak, the alternative to growing organically (ie, growth via…</p>

In line with September's macro numbers (see China: Exports Fall but Reforms Apace and Chinese Trade Data Recap: It Isn’t Pretty), organic growth reported by the two largest Chinese port operators remained weak last month. In this note we quickly review September throughput numbers for both China Merchants Port Holdings Company Ltd. (144 HK) and COSCO Pacific Ltd (1199 HK). We point out that while organic growth at Chinese ports remains weak, the alternative to growing organically (ie, growth via…

Organic Growth at China Merchants Port, Cosco Shipping Ports Remains Weak. Acquisitions? Expensive!