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.

Equity Bottom-Up

The stocks of Taiwanese Lines under our coverage have performed well on YTD basis, likely due to optimism for a recovery of the container shipping industry, which was reflected in a sharp turnaround in the earnings in 2Q17.  Evergreen’s profit of NTD 2.8bn (USD 74m) in 2Q17 was the highest since 2010, while WHL’s profit of NTD 878m (USD 26m) was the most since September 2015. These factors have combined to push the share prices beyond our target threshold and we await for a pullback to upgrade…

The stocks of Taiwanese Lines under our coverage have performed well on YTD basis, likely due to optimism for a recovery of the container shipping industry, which was reflected in a sharp turnaround in the earnings in 2Q17.  Evergreen’s profit of NTD 2.8bn (USD 74m) in 2Q17 was the highest since 2010, while WHL’s profit of NTD 878m (USD 26m) was the most since September 2015. These factors have combined to push the share prices beyond our target threshold and we await for a pullback to upgrade…

Taiwanese Lines: Focus on Evergreen Marine and Wan Hai Lines

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

MSCI Emerging Markets Index / Technical Analysis

Our Emerging Market Screen &amp; Chart Book helps pinpoint leading stocks, weeding out lagging and stagnating trends.  This is performed through a relative strength price screen.  Only stocks trading within 5% of a 26-week relative strength high make the cut. From this list, we scan through each chart and highlight the most favorable set-ups.

Our Emerging Market Screen &amp; Chart Book helps pinpoint leading stocks, weeding out lagging and stagnating trends.  This is performed through a relative strength price screen.  Only stocks trading within 5% of a 26-week relative strength high make the cut. From this list, we scan through each chart and highlight the most favorable set-ups.

Thematic (Sector/Industry)

Supply-demand balance still delicate, but better than last two years. The balance between supply and demand is still wafer-thin, which has had its impact, despite the peak season being underway. Our latest numbers suggest that the peak season freight rate growth is expected to be moderate this year. On the Asia-Europe trade, the late summer lull in shipments was a headwind, while the Transpacific still suffers the overhang of excess supply. In addition, massive factory closure in China…

Supply-demand balance still delicate, but better than last two years. The balance between supply and demand is still wafer-thin, which has had its impact, despite the peak season being underway. Our latest numbers suggest that the peak season freight rate growth is expected to be moderate this year. On the Asia-Europe trade, the late summer lull in shipments was a headwind, while the Transpacific still suffers the overhang of excess supply. In addition, massive factory closure in China…

Container Shipping - A Rising Tide Floats All Boats

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

<h2>Overview</h2>Since <a href="https://www.smartkarma.com/entities/18689" target="_blank" data-smartkarma-citation="entities:18689:1">Hanjin Shipping Co Ltd (117930 KS)</a> declared bankruptcy at the end of August 2016, market conditions in long-haul container shipping have improved substantially. The removal of Hanjin's capacity (and it's aggressive pricing tactics) combined with a modest improvement in demand led to a strong improvement in freight rates in most long-haul markets since the end of Q3 last year. In addition, a series of recent mergers and acquisitions in the sector, plus new carrier alliances that…

OverviewSince Hanjin Shipping Co Ltd (117930 KS) declared bankruptcy at the end of August 2016, market conditions in long-haul container shipping have improved substantially. The removal of Hanjin's capacity (and it's aggressive pricing tactics) combined with a modest improvement in demand led to a strong improvement in freight rates in most long-haul markets since the end of Q3 last year. In addition, a series of recent mergers and acquisitions in the sector, plus new carrier alliances that…

Evergreen, Yang Ming Q217 Results Show Sharp Recovery Since Hanjin Bankruptcy in Q316; Now What?

We're closing out our Long <a href="https://www.smartkarma.com/entities/15428" target="_blank" data-smartkarma-citation="entities:15428:1">Evergreen Marine Corp Ltd (2603 TT)</a> / Short <a href="https://www.smartkarma.com/entities/20645" target="_blank" data-smartkarma-citation="entities:20645:1">Eva Airways Corp (2618 TT)</a> pair trade idea as Evergreen has surpassed our target price of NS$16.00 per share. We first proposed the Long Evergreen / Short EVA pair idea in our December 2016 note <a href="https://www.smartkarma.com/insights/the-trump-call-may-see-taiwan-airlines-hurt-short-eva-against-long-position-in-evergreen-marine" target="_blank" data-smartkarma-citation="insights:7446">‘The Trump Call’ May See Taiwan Airlines Hurt; Short EVA Against Long Position in Evergreen Marine</a>. At that time we expected Evergreen to significantly outperform its airline affiliate EVA, which we believed would suffer the brunt of…

We're closing out our Long Evergreen Marine Corp Ltd (2603 TT) / Short Eva Airways Corp (2618 TT) pair trade idea as Evergreen has surpassed our target price of NS$16.00 per share. We first proposed the Long Evergreen / Short EVA pair idea in our December 2016 note ‘The Trump Call’ May See Taiwan Airlines Hurt; Short EVA Against Long Position in Evergreen Marine. At that time we expected Evergreen to significantly outperform its airline affiliate EVA, which we believed would suffer the brunt of…

Closing Evergreen / EVA Airways Long-Short Pair Trade Idea After Evergreen Exceeds Our Target Price

Taiwan

Wan Hai Lines Ltd. provides marine transportation and shipping agent services. The Company also purchases, sells, and leases vessels and containers as well as operates container freight stations.

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Wan Hai Lines (2615 TT)

Taiwanese Lines: Focus on Evergreen Marine and Wan Hai Lines

The stocks of Taiwanese Lines under our coverage have performed well on YTD basis, likely due to optimism for a recovery of the container shipping...

Drewry Maritime Financial Research

EM Relative Strength Screen & Chart Book

Our Emerging Market Screen & Chart Book helps pinpoint leading stocks, weeding out lagging and stagnating trends. This is performed through a...

Vermilion Research

Container Shipping - A Rising Tide Floats All Boats

Supply-demand balance still delicate, but better than last two years. The balance between supply and demand is still wafer-thin, which has had its...

Drewry Maritime Financial Research

Evergreen, Yang Ming Q217 Results Show Sharp Recovery Since Hanjin Bankruptcy in Q316; Now What?

OverviewSince Hanjin Shipping Co Ltd (117930 KS) declared bankruptcy at the end of August 2016, market conditions in long-haul container shipping...

Daniel Hellberg

Closing Evergreen / EVA Airways Long-Short Pair Trade Idea After Evergreen Exceeds Our Target Price

We're closing out our Long Evergreen Marine Corp Ltd (2603 TT) / Short Eva Airways Corp (2618 TT) pair trade idea as Evergreen has surpassed our...

Daniel Hellberg

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