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)

<blockquote>
“Using leverage to cure the problems of too much leverage is not homeopathy, it is denial. The debt crisis is not a temporary problem, it is a structural one. We need rehab.”
―Nassim Nicholas Taleb, Ten principles for a Black Swan-proof world (2009)
</blockquote>This morning, Hanjin Shipping Co. said it will apply for court receivership after lenders decided to halt all support. We have been highlighting these risks from 2013 and in our last update on troubled container shipping company, we had highlighted the…


“Using leverage to cure the problems of too much leverage is not homeopathy, it is denial. The debt crisis is not a temporary problem, it is a structural one. We need rehab.”
―Nassim Nicholas Taleb, Ten principles for a Black Swan-proof world (2009)
This morning, Hanjin Shipping Co. said it will apply for court receivership after lenders decided to halt all support. We have been highlighting these risks from 2013 and in our last update on troubled container shipping company, we had highlighted the…

Hanjin Shipping(117930 KS) - Borrowed Time Comes to an End

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

The four major construction stocks in Korea <a href="https://www.smartkarma.com/entities/4292" target="_blank" data-smartkarma-citation="entities:4292">Hyundai Engineering &amp; Const</a>, <a href="https://www.smartkarma.com/entities/7699" target="_blank" data-smartkarma-citation="entities:7699">Hyundai Development Co Engg &amp; Cnstn</a>, <a href="https://www.smartkarma.com/entities/15916" target="_blank" data-smartkarma-citation="entities:15916">Gs Engineering &amp; Construct</a>, and <a href="https://www.smartkarma.com/entities/12333" target="_blank" data-smartkarma-citation="entities:12333">Daewoo Engineering &amp; Constr</a> share prices are on average down 10% from 13 April 2016 (in the same period KOSPI was up 0.3%) , post the election of the National Assembly members in Korea. We gave out a warning on 17 April 206 on these four Korean construction stocks <a href="https://www.smartkarma.com/insights/warning-on-korean-construction-stocks-ruling-saenuri-party-is-crushed-in-national-assembly-election" target="_blank" data-smartkarma-citation="insights:3422">Warning on Korean Construction Stocks: Ruling Saenuri Party Is Crushed in National Assembly</a>…

The four major construction stocks in Korea Hyundai Engineering &amp; Const, Hyundai Development Co Engg &amp; Cnstn, Gs Engineering &amp; Construct, and Daewoo Engineering &amp; Constr share prices are on average down 10% from 13 April 2016 (in the same period KOSPI was up 0.3%) , post the election of the National Assembly members in Korea. We gave out a warning on 17 April 206 on these four Korean construction stocks Warning on Korean Construction Stocks: Ruling Saenuri Party Is Crushed in National Assembly…

Close Out the Shorts on Korean Construction Stocks?

This is a follow-up to the warning on the Korean construction stocks which we issued more than a month ago. <a href="https://www.smartkarma.com/insights/warning-on-korean-construction-stocks-ruling-saenuri-party-is-crushed-in-national-assembly-election" target="_blank" data-smartkarma-citation="insights:3422">Warning on Korean Construction Stocks: Ruling Saenuri Party Is Crushed in National Assembly Election</a> We gave a strong warning on the four major construction stocks and they are down on average 7.2% from the end of the National Assembly Elections in Korea (about 5 weeks ago) to today, under performing KOSPI which is down 1.7% during the same period.  We continue to be bearish on the Korean…

This is a follow-up to the warning on the Korean construction stocks which we issued more than a month ago. Warning on Korean Construction Stocks: Ruling Saenuri Party Is Crushed in National Assembly Election We gave a strong warning on the four major construction stocks and they are down on average 7.2% from the end of the National Assembly Elections in Korea (about 5 weeks ago) to today, under performing KOSPI which is down 1.7% during the same period.  We continue to be bearish on the Korean…

Korean Construction Stocks - Household Debt Is the Achilles Heel

South Korea

Sebo Manufacturing Engineering Corporation operates domestic engineering and construction businesses.  The Company designs and constructs semiconductor clean rooms, sanitary facilities, pre fabrication piping systems, and duct facilities.

Yooshin Engineering Corp. provides engineering and construction services for sewerage, roads, harbor, tunnel, and various transportation facility buildings. The Company also operates in urban planning, leisure, and environmental engineering areas.

KCC Engineering & Construction Co., Ltd. builds highways, roads, rail roads, seaports, and bridges through government contracting.  The Company also constructs apartment complexes and industrial parks.

Dongbu Corporation constructs office buildings, hospitals, sports facilities, educational buildings, and apartment complexes.  The Company also contracts civil engineering projects, such as dams, tunnels, subways, harbors, and water supply facilities.  In addition, Dongbu provides bus transportation and freight services.

Hwasung Industrial Co., Ltd. constructs commercial buildings and apartments, and operates department stores and outlets.

Seohan Co., Ltd. provides construction, civil engineering and architectural services.  The Company constructs apartment complexes, educational facilities, commercial buildings, roadways, and waste treatment facilities.

Kyeryong Construction Industrial Co., Ltd. focuses on public-sector construction and civil engineering works mainly in the Central area of South Korea.

Kyeryong Construction Industrial Co (013580 KS)

Tuksu Construction Co., Ltd. provides construction and civil engineering services, specializing in grouting and boring.  The Company's projects include subway, railway, and bridge construction.

Hanshin Construction Co., Ltd. designs and constructs apartment complexes, office buildings, subway stations, and cultural and sports facilities.  The Company also participates government projects, such as highways, subways, and industrial complexes.  In addition, Hanshin offers residential house remodeling services.

Il Sung Construction Co., Ltd. operates domestic civil engineering and architectural businesses.  The Company constructs roadways, tunnels, commercial and residential buildings, and educational facilities.

Wai Kee Holdings Limited, through its subsidiaries, operates businesses in construction of civil engineering and building projects.  The Company also produces and sells quarry and timber products.  In addition, Wai Kee invests in, develops, operates, and manages highway and expressway.

Merge Energy Berhad is an investment holding company.  The Company, through its subsidiaries, operates as a contractor for building, structural, and civil engineering works.  Merge Energy also manufactures sand bricks, produces concrete and cement mix. Merge Energy also trades and markets building materials and invests and develops property.

The Kodensha Co., Ltd. provides indoor wiring, power transmission installations, power generation/transformation works, and communications related construction. The Company distributes a variety of products such as heavy electric machines and heating and cooling systems.

Tung Kai Technology Engineering Co., Ltd. provides mechanical, electrical, and plumping integrated engineering services for clean rooms as well as general industrial plants.

Tung Kai Technology Engineering (3018 TT)

JAPAN FOUNDATION ENGINEERING CO., LTD. performs ground improvement, ground strengthening, anchor, and slope protection works.  The Company also constructs water leakage prevention for dam foundation.  Additionally, Japan Foundation provides geological surveys and technical consulting services for heavy construction.

Tokura Corporation is a general contractor based in Kanto, Kansai, and Hokuriku regions.  The Company performs civil engineering works for flood control, sewage, roads, harbors, airports, railroads, and power transmission lines. Tokura also constructs commercial, residential, and institutional buildings. Additionally, the Company operates real estate businesses.

Saunders International Ltd. designs, constructs, and maintains steel bulk liquid storage tanks for the oil and gas, mining, water infrastructure, and other industries.

Apex Science & Engineering Corporation provides engineering services, properties construction and the manufacture of electronic products. The Company's engineering businesses include petrochemical engineering, electricity and energy engineering, package engineering, cigarette, vintage and food engineering, refrigeration, air conditioning engineering, and sewage treatment.

UEKI CORPORATION is a general contractor based in Niigata Prefecture. The Company constructs various infrastructure for piping, road paving, and water and sewage.  Ueki also builds residential, commercial, and institutional buildings.  Additionally, the Company operates real estate brokerage and leasing businesses.

TAKADA CORPORATION constructs industrial plant facilities for steel, chemical, petroleum, natural gas, electricity, and energy plants.  Takada also develops and builds factory automation systems and semiconductor facilities such as clean rooms.  Additionally, the Company constructs infrastructure such as waste disposal, sewage, and amusement facilities.

Shinsegae Engineering & Construction Co., Ltd. specializes in designing and building discount stores, distribution centers, and department stores.  The Company also operates leisure businesses, such as golf courses and country clubs.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Shinsegae Eng & Construction (034300 KS)

Hanjin Shipping(117930 KS) - Borrowed Time Comes to an End

“Using leverage to cure the problems of too much leverage is not homeopathy, it is denial. The debt crisis is not a temporary problem, it is a...

Drewry Maritime Financial Research

Close Out the Shorts on Korean Construction Stocks?

The four major construction stocks in Korea Hyundai Engineering & Const, Hyundai Development Co Engg & Cnstn, Gs Engineering &...

Douglas Kim

Korean Construction Stocks - Household Debt Is the Achilles Heel

This is a follow-up to the warning on the Korean construction stocks which we issued more than a month ago. Warning on Korean Construction Stocks:...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)