Transport Sector, China and Asia-focused Research

Charles De Trenck

Thematic (Sector/Industry)

I was working on a bigger piece on HK vs Singapore which I will put out later, and reviewing political classifications of economies, when I saw a good comment from Ray Dalio on Trump and his invocation of Ayn Rand. I was also in the middle of reading the history of Athens and re-reading Aristotle’s Constitution of Athens, which added perspective to Dalio. There is a lot to apply to today which I think is worth noting.Quick conclusions before delving deeper:<ul><li>Ray Dalio is right to invoke Ayn Rand and flag the positives Trump could bring about;</li><li>But Let’s also keep in mind how deep the recent hole banks, Bernanke and Obama dug;</li><li>Looking at Aristotle as well, we might say that Trump’s partial democratic election has been to install an Aristocracy…this will certainly be interesting;</li><li>There are some really good free reads to turn to for a quick study of Ayn Rand;</li><li>When we listen back to Ayn Rand, we see that she disliked MNCs/Corporations because of their manipulation of government…Let’s see where Trump takes this.</li></ul>

I was working on a bigger piece on HK vs Singapore which I will put out later, and reviewing political classifications of economies, when I saw a good comment from Ray Dalio on Trump and his invocation of Ayn Rand. I was also in the middle of reading the history of Athens and re-reading Aristotle’s Constitution of Athens, which added perspective to Dalio. There is a lot to apply to today which I think is worth noting.Quick conclusions before delving deeper:Ray Dalio is right to invoke Ayn Rand and flag the positives Trump could bring about;But Let’s also keep in mind how deep the recent hole banks, Bernanke and Obama dug;Looking at Aristotle as well, we might say that Trump’s partial democratic election has been to install an Aristocracy…this will certainly be interesting;There are some really good free reads to turn to for a quick study of Ayn Rand;When we listen back to Ayn Rand, we see that she disliked MNCs/Corporations because of their manipulation of government…Let’s see where Trump takes this.

Trump Not Likely to Halt Decline of US. But Ray Dalio Makes Good Case in Bringing Back Ayn Rand

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.

🎺🎺🎺 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…

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

OPEC's production cuts announced this week represent a positive near-term development for world oil markets, removing more than 1 million barrels per day from an oversupplied system. Even after factoring in the inevitable U.S. shale response to higher crude prices, OPEC's cuts point to a meaningful supply deficit next year. Consequently, we are raising our 2017 West Texas Intermediate price to $60 per barrel from $50.Improved near-term fundamentals come at a cost, however. Even a modest recovery in oil prices will encourage U.S. shale producers to further ramp activity so that they eventually replace almost all "removed" OPEC barrels with their own. Increased near-term shale activity means that oil prices are unlikely to remain elevated for long. The industry is awash in low-cost oil, and temporary OPEC cuts cannot alter this reality. Our long-term oil price assumption of $55/bbl WTI is unchanged.Analyst: Stephen Simko, CFA

OPEC's production cuts announced this week represent a positive near-term development for world oil markets, removing more than 1 million barrels per day from an oversupplied system. Even after factoring in the inevitable U.S. shale response to higher crude prices, OPEC's cuts point to a meaningful supply deficit next year. Consequently, we are raising our 2017 West Texas Intermediate price to $60 per barrel from $50.Improved near-term fundamentals come at a cost, however. Even a modest recovery in oil prices will encourage U.S. shale producers to further ramp activity so that they eventually replace almost all "removed" OPEC barrels with their own. Increased near-term shale activity means that oil prices are unlikely to remain elevated for long. The industry is awash in low-cost oil, and temporary OPEC cuts cannot alter this reality. Our long-term oil price assumption of $55/bbl WTI is unchanged.Analyst: Stephen Simko, CFA 

OPEC Adds a Twist to the Plot, but the Ending Is Unchanged

Frontier and emerging markets (Vietnam)

Dylan Waller

Nomadic Equity

Norway, Colombia, and Nigeria Amid Low Oil Prices The low oil price environment since late 2014 has put varying levels of strain on oil exporting countries and has also provided a benchmark of which countries have some of the most resilient oil producing companies.  As outlined in previous insights, I am bullish on several Vietnamese oil &amp; gas companies which have been able to fare well in this low oil price environment and could experience a strong rebound if oil prices rebound.  The World Bank…

Norway, Colombia, and Nigeria Amid Low Oil Prices  The low oil price environment since late 2014 has put varying levels of strain on oil exporting countries and has also provided a benchmark of which countries have some of the most resilient oil producing companies.  As outlined in previous insights, I am bullish on several Vietnamese oil &amp; gas companies which have been able to fare well in this low oil price environment and could experience a strong rebound if oil prices rebound.  The World Bank…

Overview of Opportunities in Asia, Africa, Latin America and Norway

Information Technology Consultant

Ishita Jain

Electric vehicles (“EVs”) have been around for some time now in various shapes and forms. While they have always held immense promise, mass adoption has eluded the industry. As more carmakers jump onto the bandwagon, it is worthwhile exploring the opportunities and circumstances that may finally see a trend towards mass adoption. The purpose of this insight is to shed some light on the hype around EVs, the trends in costs of EVs and investment avenues.

Electric vehicles (“EVs”) have been around for some time now in various shapes and forms. While they have always held immense promise, mass adoption has eluded the industry. As more carmakers jump onto the bandwagon, it is worthwhile exploring the opportunities and circumstances that may finally see a trend towards mass adoption. The purpose of this insight is to shed some light on the hype around EVs, the trends in costs of EVs and investment avenues.

Norway

Equinor ASA operates as an energy company. The Company develops oil, gas, wind, and solar energy projects, as well as focuses on offshore operations and exploration services. Equinor serves customers worldwide.

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Trump Not Likely to Halt Decline of US. But Ray Dalio Makes Good Case in Bringing Back Ayn Rand

I was working on a bigger piece on HK vs Singapore which I will put out later, and reviewing political classifications of economies, when I saw a...

Charles De Trenck

🎺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

OPEC Adds a Twist to the Plot, but the Ending Is Unchanged

OPEC's production cuts announced this week represent a positive near-term development for world oil markets, removing more than 1 million barrels...

Morningstar, Inc.

Overview of Opportunities in Asia, Africa, Latin America and Norway

Norway, Colombia, and Nigeria Amid Low Oil PricesThe low oil price environment since late 2014 has put varying levels of strain on oil exporting...

Nomadic Equity

Investing in Electric Vehicles

Electric vehicles (“EVs”) have been around for some time now in various shapes and forms. While they have always held immense promise, mass...

Ishita Jain

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