Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>The USTR issued a Section 301 report in January 2025. The report suggests China has tried to achieve dominance in global shipping, to the detriment of US commerce.</li>
<li>The report is flawed, in data (it somehow manages to make up data which is otherwise available from MARAD), analytics, and conclusions, but the Trump administration has run with it.</li>
<li>In February, the USTR announced "Proposed Actions" - fees for Chinese liners and international liners with Chinese ships, and restrictions on future exports. US users lose. And there are loopholes.</li>
</ul>


The USTR issued a Section 301 report in January 2025. The report suggests China has tried to achieve dominance in global shipping, to the detriment of US commerce.
The report is flawed, in data (it somehow manages to make up data which is otherwise available from MARAD), analytics, and conclusions, but the Trump administration has run with it.
In February, the USTR announced "Proposed Actions" - fees for Chinese liners and international liners with Chinese ships, and restrictions on future exports. US users lose. And there are loopholes.


The USTR's New "Proposed Actions" For Section 301 Investigation on China's Maritime/Shipping Sectors

<ul>
<li>The Nikkei reported this AM that <a href="https://www.smartkarma.com/entities/kawasaki-kisen-kaisha-ltd" target="_blank" data-smartkarma-citation="entities:3548:1" rel="noopener">Kawasaki Kisen Kaisha (9107 JP)</a> CEO was considering increasing shareholder returns this fiscal year. It already has a juicy div and a ¥100bn buyback.</li>
<li>The company announced its buyback, and an agreement by two holders of 39% to sell in a ToSTNeT-3 buy, then started buying in the market. Results are impactful.</li>
<li>The shares are up today on this news, though they gave some back after the BOJ news. The outlook for more share price impact is not bad. </li>
</ul>


The Nikkei reported this AM that Kawasaki Kisen Kaisha (9107 JP) CEO was considering increasing shareholder returns this fiscal year. It already has a juicy div and a ¥100bn buyback.
The company announced its buyback, and an agreement by two holders of 39% to sell in a ToSTNeT-3 buy, then started buying in the market. Results are impactful.
The shares are up today on this news, though they gave some back after the BOJ news. The outlook for more share price impact is not bad. 


KLINE (9107) CEO Comes Out Swinging - More LPG Carriers and More Shareholder Returns THIS YEAR

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>The horse trading continues with Israel bowing to the US and bilateral talks with Japan set to commence imminently.</li>
<li>US shippers outperformed given lower oil despite an outlook for lower global trade overall.</li>
<li>Samsung numbers beating this morning on strong demand for the Galaxy S25 smartphones and DRAM.</li>
</ul>


The horse trading continues with Israel bowing to the US and bilateral talks with Japan set to commence imminently.
US shippers outperformed given lower oil despite an outlook for lower global trade overall.
Samsung numbers beating this morning on strong demand for the Galaxy S25 smartphones and DRAM.


Japan Morning Connection: US Relief Rally Sending JP Futures Sharply Higher

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Equity Bottom-Up

<ul><li>Hillhouse's Rava buys majority stake in Dash Living with $150M investment plan, expanding its presence in the real estate market. </li><li>Ex-Macquarie exec Robson to advise on ESR privatisation, bringing expertise and strategic guidance to the process. </li><li>Daibiru Corp to acquire Sydney Tower from Investa Fund for $378M, showcasing strong investor interest in Australian real estate.</li></ul>

Hillhouse's Rava buys majority stake in Dash Living with $150M investment plan, expanding its presence in the real estate market. Ex-Macquarie exec Robson to advise on ESR privatisation, bringing expertise and strategic guidance to the process. Daibiru Corp to acquire Sydney Tower from Investa Fund for $378M, showcasing strong investor interest in Australian real estate.

Asia Real Estate Tracker (01-Apr-2025): Hillhouse's Rava invests $150M in Dash Living.

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

<ul>
<li>Price momentum remains very weak, and spot rates are already below 2024 lows</li>
<li>Multiple deep-sea carriers have recently guided to a collapse in core earnings in 2025</li>
<li>USTR / MARAD proposed rule changes could add to US tariff chaos &amp; raise carriers' costs</li>
</ul>


Price momentum remains very weak, and spot rates are already below 2024 lows
Multiple deep-sea carriers have recently guided to a collapse in core earnings in 2025
USTR / MARAD proposed rule changes could add to US tariff chaos &amp; raise carriers' costs


Monthly Container Shipping Tracker | Rates Down | Chorus of Weak Guidance | USTR-MARAD (March 2025)

Japan

Mitsui O.S.K. Lines, Ltd. provides marine transportation, warehousing, and cargo handling services.  The Company operates container ship, specialized carrier, oil tankers, and ferry.  Items transported include coal, iron ore, grain, logs, aluminum, cement, industrial salt, copper ore, wood chips, paper products, chemical products, gasoline and other petroleum products, LPG, and other cargoes.

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Mitsui O.S.K. Lines (9104 JP)

The USTR's New "Proposed Actions" For Section 301 Investigation on China's Maritime/Shipping Sectors

The USTR recently announced a 301 investigative report on Chinese Shipping/Logistics/Shipbuilding and Proposed Actions. They will hurt US users who...

Travis Lundy

KLINE (9107) CEO Comes Out Swinging - More LPG Carriers and More Shareholder Returns THIS YEAR

K-Line's CEO in a Nikkei interview said they would expand their LNG carrier fleet by 60% from here to 2026. And they said they are considering...

Travis Lundy

Japan Morning Connection: US Relief Rally Sending JP Futures Sharply Higher

Israel bows to US pressure, Japan to begin bilateral trade talks. US shippers despite global trade decline. Samsung numbers beat with Galaxy S25...

Andrew Jackson

Asia Real Estate Tracker (01-Apr-2025): Hillhouse's Rava invests $150M in Dash Living.

Rava invests $150M in Dash Living, Robson advises on ESR privatisation, Daibiru buys Sydney Tower for $378M, Integral Real Estate acquires 10...

Asia Real Estate Tracker

Monthly Container Shipping Tracker | Rates Down | Chorus of Weak Guidance | USTR-MARAD (March 2025)

Container rates continue to fall, and major carriers are guiding to a collapse in core margins in FY25. Proposed US rules could potentially make...

Tracking Traffic

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