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)

🎺🎺🎺 The Maritime Honours List 2016 🎺🎺🎺 As we near the end of the year, global markets are on a high despite China, Korea, Brexit, Trump, Italy and Fed rate concerns, among others. US 10yr yield is at levels they were not supposed to reach until the end of 2017, reflation trade is in play and OPEC has finally agreed to production cuts.Not many would have seen that coming. For shipping it was another tough year. As 2016 (the most tumultuous and dreadful year for the global maritime industry in…

🎺🎺🎺 The Maritime Honours List 2016 🎺🎺🎺 As we near the end of the year, global markets are on a high despite China, Korea, Brexit, Trump, Italy and Fed rate concerns, among others. US 10yr yield is at levels they were not supposed to reach until the end of 2017, reflation trade is in play and OPEC has finally agreed to production cuts.Not many would have seen that coming. For shipping it was another tough year. As 2016 (the most tumultuous and dreadful year for the global maritime industry in…

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Who says nothing big ever happens in December?This past week we obtained, via legally questionable means, a trove of 2016 Christmas gift lists and related correspondence between a number of high-profile individuals and Santa Claus himself. The data dump also includes confidential emails between Mr. Claus and his staff and family members, and offers a window onto arguably the world's most successful (and festive) logistics operation. We contacted a public relations firm representing Santa Claus…

Who says nothing big ever happens in December?This past week we obtained, via legally questionable means, a trove of 2016 Christmas gift lists and related correspondence between a number of high-profile individuals and Santa Claus himself. The data dump also includes confidential emails between Mr. Claus and his staff and family members, and offers a window onto arguably the world's most successful (and festive) logistics operation. We contacted a public relations firm representing Santa Claus…

BREAKING: Confidential Santa Claus Correspondence Leaked! Way Too Hot (And Salty!) For Wikileaks!

Transport Sector, China and Asia-focused Research

Charles De Trenck

Note: wins and losses are listed at the end of the piece.Transport has been on a roll. A month ago we saw crazy buying any which way with weak names rising more than better names. US Rail has done ok though not stellar. US Airlines have done better. Especially after Warren Buffett portfolio managers did the unthinkable and bought <a href="https://www.smartkarma.com/entities/3663" target="_blank" data-smartkarma-citation="entities:3663:1">American Airlines Group Inc (AAL US)</a>, DAL US and UAL US (announced mid Nov). But US airlines is a whole other turnaround story. Not your run of the mill core transport…

Note: wins and losses are listed at the end of the piece.Transport has been on a roll. A month ago we saw crazy buying any which way with weak names rising more than better names. US Rail has done ok though not stellar. US Airlines have done better. Especially after Warren Buffett portfolio managers did the unthinkable and bought American Airlines Group Inc (AAL US), DAL US and UAL US (announced mid Nov). But US airlines is a whole other turnaround story. Not your run of the mill core transport…

The Rally in Transport Continues in Twists and Turns

Results of listed terminal operators reveal a weakness in organic earnings as gearing increases. Stricter cost rationalisation and financial risk reduction will retain investment interest. Companies with growth plans command a significant market premium as profitability diminishes.

Results of listed terminal operators reveal a weakness in organic earnings as gearing increases. Stricter cost rationalisation and financial risk reduction will retain investment interest. Companies with growth plans command a significant market premium as profitability diminishes.

Global Port Operators - 3Q16 Profitability Trends Lower on Slackening Growth

Founder and CEO, Europacifica Consulting

Naomi Fink

Founder and CEO

Europacifica Consulting

"Why Hold Japan?" is a question that recurs among foreign investors, now the greatest cohort of investors in Japanese stocks.  The question tends to arise much more during cyclical downturns, as investors reassess their holdings.  Japan's lukewarm economic expansion as well as uncertainty surrounding events overseas still compel investors to justify their Japan allocation with a sound investment thesis, even if there are no imminent plans for portfolio reallocation.  As in the first installment of the series, <a href="https://www.smartkarma.com/insights/why-hold-japan-part-i-relative-tax-regimes" target="_blank" data-smartkarma-citation="insights:6854">Why Hold Japan, Part I: Relative Tax Regimes</a> , we once again focus on comparative metrics within the world's largest developed economies.  This time, we focus upon relative growth cycles and comparative valuation among G7 bourses.  On the macroeconomic side, we find Japan far less of an under-performer than it was at its cyclical trough in 2011-2012.  Aggregate index valuation metrics meanwhile show valuations in Japan to be far less inflated than in 2006 (mid expansion cycle) or 2011 (mid contraction cycle), while Return on Equity is much more in line with its G7 counterparts than in either of these historical periods.  There remain signals of greater longer-term under-valuation of smaller listed firms in particular among TOPIX constituents.

"Why Hold Japan?" is a question that recurs among foreign investors, now the greatest cohort of investors in Japanese stocks.  The question tends to arise much more during cyclical downturns, as investors reassess their holdings.  Japan's lukewarm economic expansion as well as uncertainty surrounding events overseas still compel investors to justify their Japan allocation with a sound investment thesis, even if there are no imminent plans for portfolio reallocation.  As in the first installment of the series, Why Hold Japan, Part I: Relative Tax Regimes , we once again focus on comparative metrics within the world's largest developed economies.  This time, we focus upon relative growth cycles and comparative valuation among G7 bourses.  On the macroeconomic side, we find Japan far less of an under-performer than it was at its cyclical trough in 2011-2012.  Aggregate index valuation metrics meanwhile show valuations in Japan to be far less inflated than in 2006 (mid expansion cycle) or 2011 (mid contraction cycle), while Return on Equity is much more in line with its G7 counterparts than in either of these historical periods.  There remain signals of greater longer-term under-valuation of smaller listed firms in particular among TOPIX constituents.

Why Hold Japan, Part II: Comparative Valuation Among G7 Economies

Japan

Mitsubishi Corporation is a general trading company.  The Company has business groups such as New Business Initiatives, IT & Electronics, Fuels, Metals, Machinery, Chemicals, Living Essentials, and Professional Services.  Mitsubishi diversifies by satellite communications through a joint venture.

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Mitsubishi Corp (8058 JP)

🎺The Maritime Honours List 2016🎺

🎺🎺🎺 The Maritime Honours List 2016 🎺🎺🎺As we near the end of the year, global markets are on a high despite China, Korea, Brexit, Trump, Italy and...

Drewry Maritime Financial Research

BREAKING: Confidential Santa Claus Correspondence Leaked! Way Too Hot (And Salty!) For Wikileaks!

Who says nothing big ever happens in December?This past week we obtained, via legally questionable means, a trove of 2016 Christmas gift lists and...

Daniel Hellberg

The Rally in Transport Continues in Twists and Turns

Note: wins and losses are listed at the end of the piece.Transport has been on a roll. A month ago we saw crazy buying any which way with weak...

Charles De Trenck

Global Port Operators - 3Q16 Profitability Trends Lower on Slackening Growth

Results of listed terminal operators reveal a weakness in organic earnings as gearing increases. Stricter cost rationalisation and financial risk...

Drewry Maritime Financial Research

Why Hold Japan, Part II: Comparative Valuation Among G7 Economies

"Why Hold Japan?" is a question that recurs among foreign investors, now the greatest cohort of investors in Japanese stocks. The question tends...

Naomi Fink

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52-week Range

Market Cap (USDm)

P/E

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