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)

Container Shipping - Woes for Carriers Deepen, Stay Sellers of APMMContract rates under severe pressure, losses to widen. According to Drewry’s Benchmarking Club, ocean freight rates for cargo moving under contracts on the major East-West trade routes have already dropped by 20% in the year to February and are on course to see further deep reductions from May. The Drewry Benchmarking Club Contract Rate Index, based on Trans Pacific and Asia-Europe contract freight rate data, declined by another…

Container Shipping - Woes for Carriers Deepen, Stay Sellers of APMMContract rates under severe pressure, losses to widen. According to Drewry’s Benchmarking Club, ocean freight rates for cargo moving under contracts on the major East-West trade routes have already dropped by 20% in the year to February and are on course to see further deep reductions from May. The Drewry Benchmarking Club Contract Rate Index, based on Trans Pacific and Asia-Europe contract freight rate data, declined by another…

Container Shipping - Woes for Carriers Deepen, Stay Sellers of APMM

Thematic Investing in Tech and Media, CM Research

Cyrus Mewawalla

Thematic Investing in Tech and Media

Thematic TMT investing

CM Research

CM Research is an independent research house based in London, England. We provide global thematic research in the Technology, Media and Telecoms (TMT) sectors. 

Our focus is on disruptive technologies: how will they unfold; which industries will be impacted; and who will be the ultimate winners and losers. 

Our aim is to help investors predict share prices and corporate executives stay one step ahead of the technology trends that are shaping their industry. 

We research technology investment themes in detail and then feed the results into a scorecard system to quantify the impact of several conflicting themes on individual stocks. 

Recent themes covered include internet TV, the Internet of Things, Big Data, Mobile payments, crowdfunding, artificial intelligence, the cloud, software defined networking and Generation Hashtag.

We cover the top 500 global TMT stocks by market capitalisation and several technology start-ups and pre-IPO companies too. 

In 2015, CM Research analysts outperformed the Bloomberg Benchmark Analyst Index - which measures how good analysts are at predicting stock prices - by 7.1%.

Imagine a world where an airplane can detect a fault in one of its engines in mid-flight and radio ahead to order spare parts without any pilot intervention. Or where your fridge can detect you are running out of milk and order it for you while you are asleep. Or where your home thermostat automatically lowers the temperature when you leave the house and raises it the moment you return. Or where a patient can be forewarned of an imminent heart attack by his smartphone without any kind of medical examination by a doctor.The “Internet of Things” (IoT) refers to a world where aircraft engines, fridges, thermostats and medical devices are connected to the internet with a view to automating more of our lives, saving energy or making industrial processes run more efficiently.We are very early in this technology cycle. As yet, there are no common standards, so it is difficult to predict winners and losers. However, investors need to understand the Internet of Things because it will soon morph into a mega theme. Our analysis offers a framework in which to look at the Internet of Things, summarises the important trends and identifies the key players.

Imagine a world where an airplane can detect a fault in one of its engines in mid-flight and radio ahead to order spare parts without any pilot intervention. Or where your fridge can detect you are running out of milk and order it for you while you are asleep. Or where your home thermostat automatically lowers the temperature when you leave the house and raises it the moment you return. Or where a patient can be forewarned of an imminent heart attack by his smartphone without any kind of medical examination by a doctor.The “Internet of Things” (IoT) refers to a world where aircraft engines, fridges, thermostats and medical devices are connected to the internet with a view to automating more of our lives, saving energy or making industrial processes run more efficiently.We are very early in this technology cycle. As yet, there are no common standards, so it is difficult to predict winners and losers. However, investors need to understand the Internet of Things because it will soon morph into a mega theme. Our analysis offers a framework in which to look at the Internet of Things, summarises the important trends and identifies the key players.

Internet of Things as an Investment Theme

CEO, CIO, ClearMacro

Mike Simcock

CEO, CIO

Strategic & Tactical Asset Allocation Global Macro

ClearMacro

CIO, & CEO ClearMacro Ltd
An institutional investor with over 25 years experience, laterly having spent 10 years at GIC Singapore SWF. Managng Director, managing Global Macro, FIxed Income (Europe) and Global Credit businesses.
Passionate about utilising technology to enhance portfolio idea generation across global, multi-asset classes and optimisation of the investment process.

Macroeconomics

We're awash in concerns over inflation - the Economist last week, and multiple speakers at the 2nd Independent Research Conference where we moderated a panel on asset allocation. Ignore them.  Our analysis suggests a low near term probability of sustained inflationary concerns in core markets. However, if you disagree, steer clear of linkers and commodity futures as your inflation hedge. You'll likely lose money. We recommend equities for this role, which are currently pricing in cyclical inflation lows.  In EM, we see the trend moving in the opposite direction, as inflationary pressures top out on the back of recovery in real exchange rates.  Longer term, the outlook for inflation in core economies will move up as policy makers are forced to ease more aggressively to drive it into a 2-4% range.  Not necessarily a bad thing for risk assets.

We're awash in concerns over inflation - the Economist last week, and multiple speakers at the 2nd Independent Research Conference where we moderated a panel on asset allocation. Ignore them.  Our analysis suggests a low near term probability of sustained inflationary concerns in core markets. However, if you disagree, steer clear of linkers and commodity futures as your inflation hedge. You'll likely lose money. We recommend equities for this role, which are currently pricing in cyclical inflation lows.  In EM, we see the trend moving in the opposite direction, as inflationary pressures top out on the back of recovery in real exchange rates.  Longer term, the outlook for inflation in core economies will move up as policy makers are forced to ease more aggressively to drive it into a 2-4% range.  Not necessarily a bad thing for risk assets.

Consolidation in the Liner Industry Container shipping companies confront the enormous challenges facing the industry today. One of the options available to lines is consolidation; this is essential for the industry but fraught with difficulty for the lines involved. We at Drewry have prepared a thought leadership paper which looks at the industry context, historical M&amp;A activity, and the benefits and risks to participants and proposes some must dos for successful liner consolidation.

Consolidation in the Liner Industry Container shipping companies confront the enormous challenges facing the industry today. One of the options available to lines is consolidation; this is essential for the industry but fraught with difficulty for the lines involved. We at Drewry have prepared a thought leadership paper which looks at the industry context, historical M&amp;A activity, and the benefits and risks to participants and proposes some must dos for successful liner consolidation. 

Oil tanker market has been pretty strong past couple of days with rates on benchmark AG-Japan trade crossing $80,000 per day. Higher number if cargoes have supported the demand with West African chartering activity rising the to highest level since January. There has been some notable spike in Chinese demand as well. We would like to highlight another key factor which could be underpinning the market in short term, the return of floating storage. After a brief period of profitable window in…

Oil tanker market has been pretty strong past couple of days with rates on benchmark AG-Japan trade crossing $80,000 per day. Higher number if cargoes have supported the demand with West African chartering activity rising the to highest level since January. There has been some notable spike in Chinese demand as well.  We would like to highlight another key factor which could be underpinning the market in short term, the return of floating storage. After a brief period of profitable window in…

Brimming Onshore Storage Forcing Traders Towards Oil Tankers

United States

Carlisle Companies Incorporated manufactures and distributes construction materials, transportation products, and general industry products.  The Company manufactures a variety of products for the roofing, real estate, construction, trucking, food-service, aircraft manufacturing, lawn and garden, and other industries.

Roper Technologies, Inc. manufactures and distributes industrial equipment. The Company offers industrial controls, fluid handling, pumps, medical and scientific devices, analytical instrumentation products, radio frequency identification (RFID) communication technology, and software solutions.

Icahn Enterprises L.P., a master limited partnership, is a diversified holding company engaged in nine primary business segments: Automotive, Investment, Energy, Gaming, Railcar, Food Packaging, Metals, Real Estate and Home Fashion.

Quanta Services, Inc. provides specialized contracting services to electric utilities, telecommunication and cable television operators, and governmental entities.  The Company also installs transportation control and lighting systems and provides specialty electric power and communication services for industrial and commercial customers.  Quanta operates projects throughout North America.

Northrop Grumman Corporation is a global security company. The Company provides systems, products, and solutions in aerospace, electronics, information systems and technical services to government and commercial customers worldwide.

Stanley Black & Decker Inc. is a diversified global provider of hand tools, power tools and related accessories, mechanical access and electronic security solutions, healthcare solutions, engineered fastening systems, and more.

Graco Inc. supplies technology for the management of fluids in both industrial and commercial applications.  The Company designs, manufactures, and markets systems to move, measure, control, dispense, and apply fluid materials.  Graco's products are used for applying paints and coatings, high-pressure cleaning of equipment, and lubricating and maintaining vehicles and other equipment.

TransDigm Group, Inc., through subsidiaries, manufactures aircraft components. The Company produces ignition systems and components, gear pumps, mechanical/electromechanical actuators and controls, NiCad batteries/chargers, power conditioning devices, hold-open rods and locking devices, engineered connectors and latches, cockpit security devices, and AC/DC electric motors.

Nordson Corporation designs, manufactures, and markets systems that apply adhesives, sealants, and coatings to consumer and industrial products during manufacturing operations.  The Company's products include customized electronic controls for the precise application and curing of materials to meet customers' requirements.  Nordson operates around the world.

United Rentals, Inc., through its subsidiary, is an equipment rental company operating a network of locations in the United States and Canada.  The Company serves the construction industry, industrial and commercial concerns, homeowners, and other individuals.

CK Hutchison Holdings Limited holds all of the non-property businesses of the Cheung Kong Group and the Hutchison Group, including ports and related services, telecommunications, retail, infrastructure, energy, and movable assets leasing operations.

Samsung C&T Corporation conducts diversified business support services and resort operation activities. The Company offers a range of services in areas including clothing retail, construction, energy, real estate, food service, and resort accommodations. Samsung C&T also operates a resort with amusement rides, a zoo, water park, golf clubs, and restaurants.

Toshiba Corporation manufactures and markets electrical and electronic products. The Company's products include digital products such as PCs and televisions, NAND flash memories, and system LSIs (large-scale integrated), as well as social infrastructures such as power generators, medical equipment, and home appliances.

Siemens Ltd. has its operations in various areas: in the transportation sector it delivers high speed trains, in the lighting sector it manufactures small light bulbs. In the healthcare sector Siemens executes complete solutions for hospitals, for the industry sector it builds airports as well as produces contracts & for the communication segment it provides public network to mobiles.

SM Investments Corporation is an investment holding company. The Company operates retail business and develops shopping mall and other real estate property.  The Company also provides tourism services.

CITIC Limited operates in a range of business activities including financial services, resources and energy, manufacturing, real estate and infrastructure, engineering contracting and other businesses in China and overseas.

Koninklijke Philips NV is a health technology company focused on improving people's health across the health continuum from healthy living and prevention, to diagnosis, treatment, and home care. The Company offers products and services in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care.

Rheinmetall AG is an automotive, electronics, defense, and engineering group. The Company produces automotive pumps and components to supply air, reduce emissions, and supply fuel, pistons for gasoline and diesel vehicle and stationary engines, bearings for engines and other applications and aluminum engine blocks, and offers aftermarket service to engine repair shops.

Lifco AB operates as a holding company. The Company, through its subsidiaries, provides dental products, machinery and tools, sawmill equipment, contract manufacturing, vehicle interiors, and environmental technology. Lifco offers its products through a network of subsidiaries and partnerships worldwide.

Grupo Carso SAB de CV is a holding company with subsidiaries in the construction ,retail and industrial materials industries. The Company's products and services include: oil platform construction; shoping centers, industrial facilities and corporate buildings construction; highway construction; dam and aqueduct construction; steel tubes; and housing.

3M Co. conducts operations in electronics, telecommunications, industrial, consumer and office, health care, safety, and other markets.  The Company's businesses share technologies, manufacturing operations, brands, marketing channels, and other resources.  3M serves customers in countries located around the world.

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3M Co (MMM US)

Container Shipping - Woes for Carriers Deepen, Stay Sellers of APMM

Container Shipping - Woes for Carriers Deepen, Stay Sellers of APMMContract rates under severe pressure, losses to widen. According to Drewry’s...

Drewry Maritime Financial Research

Internet of Things as an Investment Theme

Imagine a world where an airplane can detect a fault in one of its engines in mid-flight and radio ahead to order spare parts without any pilot...

CM Research

Inflation - Really?

We're awash in concerns over inflation - the Economist last week, and multiple speakers at the 2nd Independent Research Conference where...

ClearMacro

Consolidation in the Liner Industry

Consolidation in the Liner Industry Container shipping companies confront the enormous challenges facing the industry today. One of the options...

Drewry Maritime Financial Research

Brimming Onshore Storage Forcing Traders Towards Oil Tankers

Oil tanker market has been pretty strong past couple of days with rates on benchmark AG-Japan trade crossing $80,000 per day. Higher number if...

Drewry Maritime Financial Research

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