Transport Sector, China and Asia-focused Research

Charles De Trenck

Equity Bottom-Up

I’ve written more about the Bulk rebound and <a href="https://www.smartkarma.com/entities/929" target="_blank" data-smartkarma-citation="entities:929:1">Pacific Basin Shipping Ltd (2343 HK)</a> and its rebound this last year (and dry box turnarounds <a href="https://www.smartkarma.com/entities/23598" target="_blank" data-smartkarma-citation="entities:23598:1">Triton International Limited (TRTN US)</a> previously).  Starting a few months ago, we saw telling signs of container ship turnarounds, which were reflected to a small extent in partial rebounds in names like <a href="https://www.smartkarma.com/entities/23596" target="_blank" data-smartkarma-citation="entities:23596:1">Seaspan Corp. (SSW US)</a>, and which has rebounded 50% from recent lows and about 30% from average entry points in the last 2 years. <a href="https://www.smartkarma.com/entities/24112" target="_blank" data-smartkarma-citation="entities:24112:1">Costamare, Inc (CMRE US)</a>…

I’ve written more about the Bulk rebound and Pacific Basin Shipping Ltd (2343 HK) and its rebound this last year (and dry box turnarounds Triton International Limited (TRTN US) previously).  Starting a few months ago, we saw telling signs of container ship turnarounds, which were reflected to a small extent in partial rebounds in names like Seaspan Corp. (SSW US), and which has rebounded 50% from recent lows and about 30% from average entry points in the last 2 years. Costamare, Inc (CMRE US)…

Turning the Ship Around: Ship Values & Charters, and How to Read Share Impact (Asset Owner Angle)

Thematic (Sector/Industry)

The simple stupid catalyst for change in performance this summer is the decline in the US dollar.Against the Euro the USD has essentially gone from 1.05 to 1.17 EUR to USD. The CAD I would argue has probably been more volatile, but with a core recent move from 1.37 to 1.25/1.26.  Over a year these two FX are a pedestrian 5% ahead of the USD, which completely understates the 10% move we got over the last couple of months. Recently, the USD got a little oversold short term, with some saying this…

The simple stupid catalyst for change in performance this summer is the decline in the US dollar.Against the Euro the USD has essentially gone from 1.05 to 1.17 EUR to USD. The CAD I would argue has probably been more volatile, but with a core recent move from 1.37 to 1.25/1.26.  Over a year these two FX are a pedestrian 5% ahead of the USD, which completely understates the 10% move we got over the last couple of months. Recently, the USD got a little oversold short term, with some saying this…

A Few FWIW Insights (FX … Stocks … Performance Drivers)

United States

Costamare Inc. is a holding company, engages in the provision of containerships chartering. It owns vessels such as new build containerships and second hand vessel. It was founded on April 21, 2008 and is headquartered in Athens, Greece.

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Turning the Ship Around: Ship Values & Charters, and How to Read Share Impact (Asset Owner Angle)

I’ve written more about the Bulk rebound and Pacific Basin Shipping Ltd (2343 HK) and its rebound this last year (and dry box turnarounds Triton...

Charles De Trenck

A Few FWIW Insights (FX … Stocks … Performance Drivers)

The simple stupid catalyst for change in performance this summer is the decline in the US dollar.Against the Euro the USD has essentially gone from...

Charles De Trenck