Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Last Week in Event SPACE: Soho China, Toshiba, China Logistics, Invesco Office, Yantian's Backlog

COVID-19 prevention and restriction measures enacted at Southern China ports have created a disruption on a scale that <a href="https://www.smartkarma.com/entities/ap-moller-maersk-a-s" target="_blank" data-smartkarma-citation="entities:24755:1" rel="noopener">Ap Moller - Maersk A/S (MAERSKA DC)</a> warns is greater than the six-day blockage of the Suez Canal in March.
Late last week it was estimated Yantian International Container Terminals (YICT), operating at around 20% capacity, had not handled 357,000 TEU in the preceding two weeks, exceeding the   330,000 TEU affected by the six-day blockage at the Suez Canal.
Container space worldwide was already in tight supply. Prices for Asia-Europe FEU - forty-foot equivalent unit containers - are currently being booked at $17,000, a 1,000% increase on the spot rates from a year ago. 
With delays up to 16 days, Maersk, one of the initial shareholders in Yantian, said that 84 of its vessels have omitted Yantian and Shekou to protect schedule reliability.
This Yantian bottleneck is expected to have a more profound impact on the flow of goods in the transpacific compared to the Suez blockage.
More below the fold.
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COVID-19 prevention and restriction measures enacted at Southern China ports have created a disruption on a scale that Ap Moller - Maersk A/S (MAERSKA DC) warns is greater than the six-day blockage of the Suez Canal in March.
Late last week it was estimated Yantian International Container Terminals (YICT), operating at around 20% capacity, had not handled 357,000 TEU in the preceding two weeks, exceeding the   330,000 TEU affected by the six-day blockage at the Suez Canal.
Container space worldwide was already in tight supply. Prices for Asia-Europe FEU - forty-foot equivalent unit containers - are currently being booked at $17,000, a 1,000% increase on the spot rates from a year ago. 
With delays up to 16 days, Maersk, one of the initial shareholders in Yantian, said that 84 of its vessels have omitted Yantian and Shekou to protect schedule reliability.
This Yantian bottleneck is expected to have a more profound impact on the flow of goods in the transpacific compared to the Suez blockage.
More below the fold.




Game Of Ports: China's "Suez Blockage" Disruption

Last Week in Event SPACE: Biden's New Executive Order, MMC, Invesco Office, WH Group, EPS, Link

Last Week in Event SPACE: Sing Air, JD Logistics, China Mobile, Angang/Bengang, Link Admin, Xiaomi

Global Special Situations & Strategy, SR Services Ltd

David Lepper

Global Special Situations & Strategy

SR Services Ltd

SR Services provides Strategic Knowledge and Solutions services for Family Offices and Corporate Business. 

We deliver this via advisory services, strategic planning, opportunity analysis/sourcing, as well as solution implementation. 

Whilst, we create intellectual discipline and operational leverage for your projects or daily activities, our ultimate objective is to empower whilst enhancing your decision making. 

Strategic Knowledge and Solutions

Cross Asset Strategy

Our screen looks for high valuation multiples presented by companies with significant earnings growth forecasts, as well as financial indicators that suggest balance sheet stress. 34 stocks appear in our Q2 2021 screen, versus 25 in Q1 2021 and 15 in Q4 2020. Our Q2 2021 screen shows a reduction in average stock rank to 65.18 from 70.8 points compared to the Q1 2020 screen, placing the stocks lower into the second quartile of the market and showing a deterioration in fundamental and technical aspects. Whilst this is a 7.6% decline, we see this data as tainted by trailing fundamentals. As we highlighted in previous commentaries, we expect the market to see a defined separation of Quality, Value and Relative Momentum over the next few quarters. The erosion is not unexpected as we see a wave of updated forecasts.

Our screen looks for high valuation multiples presented by companies with significant earnings growth forecasts, as well as financial indicators that suggest balance sheet stress. 34 stocks appear in our Q2 2021 screen, versus 25 in Q1 2021 and 15 in Q4 2020. Our Q2 2021 screen shows a reduction in average stock rank to 65.18 from 70.8 points compared to the Q1 2020 screen, placing the stocks lower into the second quartile of the market and showing a deterioration in fundamental and technical aspects. Whilst this is a 7.6% decline, we see this data as tainted by trailing fundamentals. As we highlighted in previous commentaries, we expect the market to see a defined separation of Quality, Value and Relative Momentum over the next few quarters. The erosion is not unexpected as we see a wave of updated forecasts.

Screening the Silk Road: Q2 2021 High Risk Names to Avoid

China

COSCO SHIPPING Holdings Co., Ltd offers marine freight transportation services.  The Company offers container shipping, dry bulk shipping, logistics services, freight forwarding, and terminal and container leasing services internationally.  COSCO SHIPPING Holdings Co., Ltd operates container ships and terminals, and manufactures shipping containers.

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COSCO Shipping Holdings (1919 HK)

Last Week in Event SPACE: Soho China, Toshiba, China Logistics, Invesco Office, Yantian's Backlog

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

Game Of Ports: China's "Suez Blockage" Disruption

The Yantian bottleneck is expected to have a more profound impact on the flow of goods in the transpacific compared to the Suez blockage.

David Blennerhassett

Last Week in Event SPACE: Biden's New Executive Order, MMC, Invesco Office, WH Group, EPS, Link

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

Last Week in Event SPACE: Sing Air, JD Logistics, China Mobile, Angang/Bengang, Link Admin, Xiaomi

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

Screening the Silk Road: Q2 2021 High Risk Names to Avoid

34 stocks in our Q2'21 HIGH-RISK screen, vs Q1 2021 's 25. Q2'21 shows a reduction in avg stock rank to 65.2 from 70.8 pts in Q1 2020....

David Lepper

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52-week Range

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