Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Equity Bottom-Up

Thoresen Thai Agencies / Equity Bottom-Up

<p>Hanjin Shipping, the largest Korean shipper and 7th largest in the world, has filed for bankruptcy last month, creating a great deal of confusion for authorities and customers worldwide. The Thai media has said that the global supply glut is so great that even Hanjin's removal alone is unlikely to benefit any of the Thai shippers, though our friends at <a href="https://www.smartkarma.com/profiles/356" target="_blank" data-smartkarma-citation="accounts:356">Drewry Maritime Equity Research</a>  said that this may not be 100% true. In the short term, customers may have to scramble to find replacement…</p>

Hanjin Shipping, the largest Korean shipper and 7th largest in the world, has filed for bankruptcy last month, creating a great deal of confusion for authorities and customers worldwide. The Thai media has said that the global supply glut is so great that even Hanjin's removal alone is unlikely to benefit any of the Thai shippers, though our friends at Drewry Maritime Equity Research  said that this may not be 100% true. In the short term, customers may have to scramble to find replacement…

Singapore

Atlantic Navigation Holdings (Singapore) Ltd. is a shipping company. The Company offers an integrated platform of services including vessel owning, operating, chartering of third party vessels, maintenance workshop and steel fabrication works for the offshore industry. Atlantic primarily operates its fleet in the Middle East and Indian markets.

Atlantic Navigation Holdings (Sing) (ATL SP)

Baker Technology Limited manufactures and provides equipment and services for the oil & gas industry. The Company's products include offshore pedestal cranes, anchor winches, skidding systems, jacking systems and raw water tower structures. Baker also provides services such as project management, engineering services, quality assurance, and construction supervision.

Hai Leck Holdings Ltd. provides scaffolding and corrosion prevention and insulation services to the oil and natural gas and petrochemical industries.

Pacific Radiance Ltd. offers offshore vessels and support services. The Company owns and operates offshore vessels and provides subsea services, shipyard services, marine equipment as well as project logistics to the oil and gas industry around the world.

MTQ Corporation Limited provides oilfield engineering services. The Company also rents oilfield equipment, sells and services turbocharger and fuel injection parts.

CH Offshore Limited owns and charters vessels to support and service the offshore oil and gas industry.  The Company also provides seismic surveys, towing and anchor handling of drill rigs and equipment, and transportation of supplies and personnel.  CH Offshore provides supporting services for the construction of platforms and laying of the pipelines.

Jasper Investments Limited and its subsidiaries provide engineering and construction services.  The Company also manufactures and trades building materials, trades, services and rents construction machinery and equipment, and develops and invests in properties.

CosmoSteel Holdings Ltd. sources and distributes piping system components. The Company distributes piping system components including pipes, fittings and flanges. CosmoSteel also provides machining services.

Mencast Holdings Ltd. is a Singapore-based complete MRO (maintenance, repair and overhaul) solutions provider in the Marine and Oil & Gas Industries.

AMOS Group Limited is a Singapore-based multi-disciplinary specialist provider and manufacturer of rigging and lifting solutions to the global offshore oil and gas industry. The Company also provides engineering services that include the design, fabrication, testing, inspection, maintenance, and certification of rigging, mooring, and lifting equipment.

Jutal Offshore Oil Services Limited provides technical support services in offshore oil and natural gas exploration and production. The Company also desgins, fabricates and sells oil and natural gas processing skid equipment.

Jindal Drilling & Industries Ltd. explores for and produces oil and gas properties in the offshore areas of India.

Wah Seong Corporation Berhad is an investment holding company. Through its subsidiaries, the Company provides pipe-coating services, manufactures spiral welded steel pipes, distributes building materials, installs metal roofing, produces plastic extrusion structural materials, assembles plastic doors and window frames, and provides industrial engineering services.

TOYO KANETSU K.K. manufactures conveyors and automated warehousing equipment used in distribution systems.  The Company also designs, manufactures, sells, and installs crude oil and liquefied natural gas (LNG) low-temperature tanks.

Anton Oilfield Services Group provides onshore oilfield services and products. The Company provides oilfield services and products in the areas of well, drilling, production, and field services.

SapuraEnergy is a full fledged upstream oil and gas company. The Company provides engineering, procurement, construction, installation and commissioning services through its fabrication, hook-up and commissioning, and Offshore Construction and Subsea Services divisions.

Forum Energy Technologies, Inc. offers manufactured technologies and applied products to the energy industry. The Company designs, manufactures, and provides products and related services to the drilling and intervention sectors, as well as to the subsea services and construction sectors.

Shanghai SK Petroleum & Chemical Equipment Corporation Ltd. researches , develops, and manufactures petroleum exploration instrument and petroleum machinery.

Asian Oilfield Services Ltd. carries out manual and mechanized shot hole drilling activities at Ahmedabad.

Shandong Molong Petroleum Machinery Company Limited manufactures and sells petroleum extraction machinery and related accessories.  The Company's products include five main categories, namely, oil well pipes, oil well sucker rods, oil well pumps, oil well pumping machines, and other petroleum extraction machinery accessories.

Mermaid Maritime PCL is a provider of drilling and sub-sea engineering services for the offshore oil and gas industry. The Company's sub-sea engineering division services clients in South East Asia, India, China, Sakhlin, the North Sea, the Middle East and South America.

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Mermaid Maritime (MMT SP)

Thai-Tanic: TTA Vs Hanjin

Hanjin Shipping, the largest Korean shipper and 7th largest in the world, has filed for bankruptcy last month, creating a great deal of confusion...

Athaporn Arayasantiparb, CFA

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