Lead Analyst, Credit Research, Drewry Maritime Financial Research

Konstantinos Oikonomopoulos

Lead Analyst, Credit Research

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.

Credit

Credit positives<ul>
<li>The group is focused in origin and destination cargo in emerging markets through long-term concessions (38 years on average while flagship Jebel Ali port concession ends in 88 years).</li>
<li>Fitch upgraded DPW and its bonds for second consecutive year by one notch to BBB+ in July 2017 following the group’s stable and growing cash flow generation. Moody’s had upgraded DPW in August 2016 to Baa2.</li>
<li>Strong management track record of expansion while keeping profitability and liquidity and…</li>
</ul>

Credit positives
The group is focused in origin and destination cargo in emerging markets through long-term concessions (38 years on average while flagship Jebel Ali port concession ends in 88 years).
Fitch upgraded DPW and its bonds for second consecutive year by one notch to BBB+ in July 2017 following the group’s stable and growing cash flow generation. Moody’s had upgraded DPW in August 2016 to Baa2.
Strong management track record of expansion while keeping profitability and liquidity and…


DP World Ltd. Credit Research - Credit Outlook Stable - Bond Valuation Neutral

Equity Research Analyst, Maritime sector, Drewry Maritime Financial Research

Ankush Kathuria CFA, FRM

Equity Research Analyst, Maritime sector

Equity Bottom-Up

Global Ports Investments / Equity Bottom-Up

1H17 results a reality check: In the absence of foreign exchange gains to mitigate operational weakness, net profit of Global Ports Investments (GLPR) dipped into the red of USD 12.1m, reversing a stellar PATMI of USD 113.4m in the same period last year. Throughput growth of main terminals in St. Petersburg lost momentum in 1H17, setting the stage for a feeble set of earnings. Nevertheless, GLPR’s valuation surged as investors’ sentiment turned positive, supported by a sustained recovery in the…

1H17 results a reality check: In the absence of foreign exchange gains to mitigate operational weakness, net profit of Global Ports Investments (GLPR) dipped into the red of USD 12.1m, reversing a stellar PATMI of USD 113.4m in the same period last year. Throughput growth of main terminals in St. Petersburg lost momentum in 1H17, setting the stage for a feeble set of earnings. Nevertheless, GLPR’s valuation surged as investors’ sentiment turned positive, supported by a sustained recovery in the…

Global Ports Inv - Buoyant Sentiment Brushes off Weak Results

Uncovering The Baltic Gem-Global Ports Investments (GLPR) Vs Hamburger Hafen Und Logistiks AG (HHLA)Baltic companies under our coverage – Global Ports Investments (GLPR) and Hamburger Hafen und Logistiks AG (HHLA) – had a tumultuous first quarter, cresting one-year highs before tumbling nearly 20% in the past one month. Russia’s Federal Antimonopoly Services (FAS) found the country’s largest port operator guilty of price fixing. Its counterpart in Germany presented a disappointing set of results…

Uncovering The Baltic Gem-Global Ports Investments (GLPR) Vs Hamburger Hafen Und Logistiks AG (HHLA)Baltic companies under our coverage – Global Ports Investments (GLPR) and Hamburger Hafen und Logistiks AG (HHLA) – had a tumultuous first quarter, cresting one-year highs before tumbling nearly 20% in the past one month. Russia’s Federal Antimonopoly Services (FAS) found the country’s largest port operator guilty of price fixing. Its counterpart in Germany presented a disappointing set of results…

Uncovering The Baltic Gem-Global Ports Investments (GLPR) Vs Hamburger Hafen Und Logistiks AG (HHLA)

Russia

Global Ports Investments PLC provides terminal operator services. The Company offers import and export logistics operations including oil products, container and other cargo operations. Global Ports operates ports and termials in Finland, Estonia and Russia.

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Global Ports Investments (GLPR LI)

DP World Ltd. Credit Research - Credit Outlook Stable - Bond Valuation Neutral

Credit positives The group is focused in origin and destination cargo in emerging markets through long-term concessions (38 years on average while...

Drewry Maritime Financial Research

Global Ports Inv - Buoyant Sentiment Brushes off Weak Results

1H17 results a reality check: In the absence of foreign exchange gains to mitigate operational weakness, net profit of Global Ports Investments...

Drewry Maritime Financial Research

Uncovering The Baltic Gem-Global Ports Investments (GLPR) Vs Hamburger Hafen Und Logistiks AG (HHLA)

Uncovering The Baltic Gem-Global Ports Investments (GLPR) Vs Hamburger Hafen Und Logistiks AG (HHLA)Baltic companies under our coverage – Global...

Drewry Maritime Financial Research

Price Gauge

52-week Range

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