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)

Ominous start to the year for container shipping with Drewry forecasting container shipping profitability to deteriorate in 2016. Ocean freight rates for cargo moving under contracts on the major East-West trade routes witnessing another reduction in the last quarter of 2015, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight rates. The Drewry Benchmarking Club Contract Rate Index, based on Trans…

Ominous start to the year for container shipping with Drewry forecasting container shipping profitability to deteriorate in 2016. Ocean freight rates for cargo moving under contracts on the major East-West trade routes witnessing another reduction in the last quarter of 2015, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight rates. The Drewry Benchmarking Club Contract Rate Index, based on Trans…

2016 - Washout Year for Container Shipping

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Event-Driven

Yesterday, a day after <a href="https://www.smartkarma.com/entities/74" target="_blank" data-smartkarma-citation="entities:74">Singapore Airlines Ltd</a> had raised and extended its offer for #<a href="https://www.smartkarma.com/entities/1114" target="_blank" data-smartkarma-citation="entities:1114">Tiger Airways Holdings Ltd</a>, two things happened (Read the Smartkarma research in the series on the topic in the margin at right).<h2>What Happened?</h2><ol><li>The Securities Investors Association (Singapore) better known as SIAS came out with a press statement. </li></ol><figure class="editor-figure"><img src="https://static-prod.smartkarma.com/images/media/000/004/865/original/SIAS_20150105_Final.png?1452053956" class="editor-image img-responsive" data-smartkarma-image-id="4865"></figure>2.   Singapore Air purchased 24.8mm shares of Tiger Airways on-market. <h2>HOW TO READ THIS</h2>THE FIRST was taken by the Singapore <a href="http://www.businesstimes.com.sg/companies-markets/some-minority-shareholders-still-unhappy-with-revised-offer-for-tiger-sias?xtor=EREC-16-4%5BBT_Newsletter_Debrief%5D-20160105-%5BSome+minority+shareholders+still+unhappy+with+revised+offer+for+Tiger%3A+SIAS%5D&amp;xts=538380" target="_blank">press</a> as a warning by SIAS that some minority…

Yesterday, a day after Singapore Airlines Ltd had raised and extended its offer for #Tiger Airways Holdings Ltd, two things happened (Read the Smartkarma research in the series on the topic in the margin at right).What Happened?The Securities Investors Association (Singapore) better known as SIAS came out with a press statement. 2.   Singapore Air purchased 24.8mm shares of Tiger Airways on-market. HOW TO READ THISTHE FIRST was taken by the Singapore press as a warning by SIAS that some minority…

TIGER: SIAS Warns and SIA Buys - How to Read This

The <a href="https://www.smartkarma.com/entities/74" target="_blank" data-smartkarma-citation="entities:74">Singapore Airlines Ltd</a> deal for <a href="https://www.smartkarma.com/entities/1114" target="_blank" data-smartkarma-citation="entities:1114">Tiger Airways Holdings Ltd</a> has always been a "Risk of Bump or Break."<h2>The New News</h2>After a weak 74.5% acceptance level and and a last minute extension last week discussed in <a href="https://www.smartkarma.com/insights/tiger-sia-extends" target="_blank" data-smartkarma-citation="insights:2210">TIGER: SIA Extends</a>, Singapore Air has bumped the Offer Price for Tiger Airways shares by 9.76% from S$0.41/share plus associated options to roll proceeds into SIA shares at S$11.1043/share to S$0.45/share plus the same SIA options. The Offer Price is now 45-56% higher than the various…

The Singapore Airlines Ltd deal for Tiger Airways Holdings Ltd has always been a "Risk of Bump or Break."The New NewsAfter a weak 74.5% acceptance level and and a last minute extension last week discussed in TIGER: SIA Extends, Singapore Air has bumped the Offer Price for Tiger Airways shares by 9.76% from S$0.41/share plus associated options to roll proceeds into SIA shares at S$11.1043/share to S$0.45/share plus the same SIA options. The Offer Price is now 45-56% higher than the various…

TIGER:  SIA Bumps to S$0.45, Declares Offer Price Final

Last week I reported that David Gerald's Securities Investors Association (Singapore) or SIAS had written an open letter to the board of SIA urging that the board consider bumping the Offer Price from S$0.41 because the Offer was below the weighted average price paid by long-term minority investors if they had purchased shares in the IPO and subsequently topped up their investments in each and every follow on rights offering (as described in both the <a href="https://www.smartkarma.com/insights/tiger-air-looks-good-at-first-glance-but-there-is-risk-of-break-or-bump" target="_blank">first insight</a> and the <a href="https://www.smartkarma.com/insights/tiger-air-flying-low" target="_blank">second</a>. Though the…

Last week I reported that David Gerald's Securities Investors Association (Singapore) or SIAS had written an open letter to the board of SIA urging that the board consider bumping the Offer Price from S$0.41 because the Offer was below the weighted average price paid by long-term minority investors if they had purchased shares in the IPO and subsequently topped up their investments in each and every follow on rights offering (as described in both the first insight and the second. Though the…

SK's coverage started with <a href="https://www.smartkarma.com/insights/tiger-air-looks-good-at-first-glance-but-there-is-risk-of-break-or-bump" target="_blank" data-smartkarma-citation="insights:1760">Tiger Air: Looks Good At First Glance But There is Risk of Break or Bump</a> where the title covers the opinion.In late November, SIAS (Securities Investors Association (Singapore)) released a <a href="http://sias.org.sg/index.php?option=com_content&amp;view=article&amp;id=655%3Apress-statement-sias-offer-to-tiger-airways&amp;catid=20%3Apress-releases&amp;Itemid=43&amp;lang=en" target="_blank">press statement</a> to the effect that they had talked to the boards of both <a href="https://www.smartkarma.com/entities/74" target="_blank" data-smartkarma-citation="entities:74">Singapore Airlines</a>  and <a href="https://www.smartkarma.com/entities/1114" target="_blank" data-smartkarma-citation="entities:1114">Tiger Airways</a>  to ask them to consider the situation of minority holders, who had, if they had purchased shares in the IPO and taken up all their rights in follow-on rights offerings, an…

SK's coverage started with Tiger Air: Looks Good At First Glance But There is Risk of Break or Bump where the title covers the opinion.In late November, SIAS (Securities Investors Association (Singapore)) released a press statement to the effect that they had talked to the boards of both Singapore Airlines  and Tiger Airways  to ask them to consider the situation of minority holders, who had, if they had purchased shares in the IPO and taken up all their rights in follow-on rights offerings, an…

Singapore

Singapore Airlines Limited provides air transportation, engineering, pilot training, air charter, and tour wholesaling services. The Company's airline operation covers Asia, Europe, the Americas, South West Pacific, and Africa.

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Singapore Airlines (SIA SP)

2016 - Washout Year for Container Shipping

Ominous start to the year for container shipping with Drewry forecasting container shipping profitability to deteriorate in 2016. Ocean freight...

Drewry Maritime Financial Research

TIGER: SIAS Warns and SIA Buys - How to Read This

Yesterday, a day after Singapore Airlines Ltd had raised and extended its offer for #Tiger Airways Holdings Ltd, two things happened (Read the...

Travis Lundy

TIGER: SIA Bumps to S$0.45, Declares Offer Price Final

The Singapore Airlines Ltd deal for Tiger Airways Holdings Ltd has always been a "Risk of Bump or Break."The New NewsAfter a weak 74.5% acceptance...

Travis Lundy

TIGER: SIA Extends

Last week I reported that David Gerald's Securities Investors Association (Singapore) or SIAS had written an open letter to the board of SIA urging...

Travis Lundy

TIGER: SIAS Makes One Last Effort

SK's coverage started with Tiger Air: Looks Good At First Glance But There is Risk of Break or Bump where the title covers the opinion.In late...

Travis Lundy

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