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.

Thematic (Sector/Industry)

Readers of Smartkarma will remember our piece lamenting how PE was partly to be blamed for the pain in dry bulk shipping. We questioned the wisdom of PE money jumping all guns blazing into dry bulk shipping and in a classic case of the herd mentality speculatively ordered billions of dollars worth new ships.<blockquote><div class="content-remarks">I believe that the shipping industry needed this shake-out. When shipping should have gone rationally out of favour in 2010-14, the collective breed of return seekers and their greed made…</div></blockquote>

Readers of Smartkarma will remember our piece lamenting how PE was partly to be blamed for the pain in dry bulk shipping. We questioned the wisdom of PE money jumping all guns blazing into dry bulk shipping and in a classic case of the herd mentality speculatively ordered billions of dollars worth new ships.I believe that the shipping industry needed this shake-out. When shipping should have gone rationally out of favour in 2010-14, the collective breed of return seekers and their greed made…

We are pleased to announce that Drewry Maritime Equity Research (DMER) has launched a model portfolio, selecting stocks within the global maritime space, ensuring a balanced approach and risks in a low return environment. The recommended stocks have been hand-picked based on the strong underlying fundamentals of each entity, coupled with near-term triggers. Objective of the DMER model portfolio is to generate moderate returns in conjunction with relatively lower risks. Given the weakness in…

We are pleased to announce that Drewry Maritime Equity Research (DMER) has launched a model portfolio, selecting stocks within the global maritime space, ensuring a balanced approach and risks in a low return environment. The recommended stocks have been hand-picked based on the strong underlying fundamentals of each entity, coupled with near-term triggers. Objective of the DMER model portfolio is to generate moderate returns in conjunction with relatively lower risks. Given the weakness in…

DMER Launches Model Stock Portfolio for the Maritime Sector

Seven years after the start of the global financial crisis in 2008, the supply-demand balance of the container shipping industry remains precarious. We expect this to continue in 2016 where imbalances at the trade route level and insufficient measures to reduce ship capacity will further accelerate freight rate reductions and industry losses. We expect 2016 to be dominated by continued weak global trade growth, sustained erosion in freight rates and weakened balance sheets – each unfavourable to a major recovery in share prices, in our view”

Seven years after the start of the global financial crisis in 2008, the supply-demand balance of the container shipping industry remains precarious. We expect this to continue in 2016 where imbalances at the trade route level and insufficient measures to reduce ship capacity will further accelerate freight rate reductions and industry losses. We expect 2016 to be dominated by continued weak global trade growth, sustained erosion in freight rates and weakened balance sheets – each unfavourable to a major recovery in share prices, in our view”

Container Shipping 2016 – Operators Facing Prisoner's Dilemma; Industry Could Lose USD 5bn in 2016

2015: LNG/LPG shipping stocks fall prey to low oil prices<img src="https://static-prod.smartkarma.com/images/media/000/005/094/original/Gas%20Perf.JPG?1453257539" class="editor-image img-responsive" data-smartkarma-image-id="5094"> Source: Bloomberg, DMER• The downward trend in share prices that started in 4Q14 intensified in 2015 as the rout in oil prices marred investor sentiment. The broad-based selloff in gas shipping stocks wiped out USD 5.7bn of cumulative market capitalisation of our coverage universe, translating into a 49% loss in 2015. • Underwhelmed by the downward spiralling stock prices, some market participants resorted to buying back shares to underpin…

2015: LNG/LPG shipping stocks fall prey to low oil prices Source: Bloomberg, DMER• The downward trend in share prices that started in 4Q14 intensified in 2015 as the rout in oil prices marred investor sentiment. The broad-based selloff in gas shipping stocks wiped out USD 5.7bn of cumulative market capitalisation of our coverage universe, translating into a 49% loss in 2015. • Underwhelmed by the downward spiralling stock prices, some market participants resorted to buying back shares to underpin…

Gas Shipping 2016 - Is Capitulation over for Gas Shipping Stocks?

2015: Investors catch a falling knife disguised as pocket of value<img src="https://static-prod.smartkarma.com/images/media/000/004/981/original/Price%20Performance.JPG?1452658223" class="editor-image img-responsive" data-smartkarma-image-id="4981"> Source: Bloomberg, DMER<ul>
<li>Investors suffered massive wealth erosion in 2015, as share prices of dry bulk companies kept tumbling during the year. DMER’s shipping index, which is based on the market cap of leading dry bulk companies, was down ~43% in 2015.</li>
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Dry bulk owners were confronted with weak shipping demand because of the slowdown in Chinese economy, which resulted in huge losses. BDI touched record lows of 415 at the onset of…</li>
</ul>

2015: Investors catch a falling knife disguised as pocket of value Source: Bloomberg, DMER
Investors suffered massive wealth erosion in 2015, as share prices of dry bulk companies kept tumbling during the year. DMER’s shipping index, which is based on the market cap of leading dry bulk companies, was down ~43% in 2015.

Dry bulk owners were confronted with weak shipping demand because of the slowdown in Chinese economy, which resulted in huge losses. BDI touched record lows of 415 at the onset of…


Dry Bulk Shipping - 2016 - Falling Knife Disguised as Pocket of Value ?

United Kingdom

Rolls-Royce Holdings PLC manufactures aero, marine and industrial gas turbines for civil and military aircraft. The Group designs, constructs and installs power generation systems, transmission and distribution systems, and equipment for the marine propulsion, oil and gas pumping, and defense markets.

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Rolls-Royce Holdings (RR/ LN)

Deja Vu - They Are Throwing in the Towel

Readers of Smartkarma will remember our piece lamenting how PE was partly to be blamed for the pain in dry bulk shipping. We questioned the wisdom...

Drewry Maritime Financial Research

DMER Launches Model Stock Portfolio for the Maritime Sector

We are pleased to announce that Drewry Maritime Equity Research (DMER) has launched a model portfolio, selecting stocks within the global maritime...

Drewry Maritime Financial Research

Container Shipping 2016 – Operators Facing Prisoner's Dilemma; Industry Could Lose USD 5bn in 2016

Seven years after the start of the global financial crisis in 2008, the supply-demand balance of the container shipping industry remains...

Drewry Maritime Financial Research

Gas Shipping 2016 - Is Capitulation over for Gas Shipping Stocks?

2015: LNG/LPG shipping stocks fall prey to low oil prices Source: Bloomberg, DMER• The downward trend in share prices that started in 4Q14...

Drewry Maritime Financial Research

Dry Bulk Shipping - 2016 - Falling Knife Disguised as Pocket of Value ?

2015: Investors catch a falling knife disguised as pocket of value Source: Bloomberg, DMER Investors suffered massive wealth erosion in 2015, as...

Drewry Maritime Financial Research

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