Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Equity Bottom-Up

<ul>
<li>January pricing momentum improved, helped by more operating days &amp; re-routes</li>
<li>Throughput growth remained strong last month, including +18% into WC ports</li>
<li>Near term reality far rosier than downbeat view from industry giant Maersk</li>
</ul>


January pricing momentum improved, helped by more operating days &amp; re-routes
Throughput growth remained strong last month, including +18% into WC ports
Near term reality far rosier than downbeat view from industry giant Maersk


Monthly Container Shipping Tracker | LNY Timing, Red Sea Re-Routes Boosted Revenue | (February 2024)

AP Moeller - Maersk A/S / Equity Bottom-Up

<ul>
<li>Q423 earnings fell sharply, but were sufficient to hit FY23 guidance</li>
<li>FY24 guidance also lower, but allows for a very wide range of outcomes</li>
<li>Management raised concerns about Red Sea impact, L-T excess supply issues</li>
</ul>


Q423 earnings fell sharply, but were sufficient to hit FY23 guidance
FY24 guidance also lower, but allows for a very wide range of outcomes
Management raised concerns about Red Sea impact, L-T excess supply issues


Maersk FY23 Meets Guidance | But FY24 Guidance & Commentary Rock Hopeful 'Glass Half-Full' Investors

<ul>
<li>December was best reading from our momentum tracker since November 2022</li>
<li>Improvement driven by rising spot rates, new fees, and stronger volume growth</li>
<li>Even before Red Sea / Suez capacity squeeze, conditions were bottoming</li>
</ul>


December was best reading from our momentum tracker since November 2022
Improvement driven by rising spot rates, new fees, and stronger volume growth
Even before Red Sea / Suez capacity squeeze, conditions were bottoming


Monthly Container Shipping Tracker | Rate Momentum +ive | Throughput Up, Too | (January 2024)

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Jan 5th which has an aggregated short interest worth USD13.4bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Wan Hai Lines, Silergy, Quanta Computer, Asustek Computer, Asia Vital.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Jan 5th which has an aggregated short interest worth USD13.4bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Wan Hai Lines, Silergy, Quanta Computer, Asustek Computer, Asia Vital.


TWSE Short Interest Weekly (Jan 5th): Wan Hai Lines, Silergy, Quanta Computer, Asustek Computer

<ul>
<li>As we begin lapping easy comps, our momentum index looks "less bad"</li>
<li>Red Sea re-routes, interest rate moves, fuel all helped lift shares recently</li>
<li>We think lots of bad news has been priced into shares at current levels</li>
</ul>


As we begin lapping easy comps, our momentum index looks "less bad"
Red Sea re-routes, interest rate moves, fuel all helped lift shares recently
We think lots of bad news has been priced into shares at current levels


Monthly Container Shipping Tracker | Lapping Easy Comps | Red Sea Re-Routes & More (December 2023)

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.

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

Wan Hai Lines (2615 TT)

Monthly Container Shipping Tracker | LNY Timing, Red Sea Re-Routes Boosted Revenue | (February 2024)

Container shipping price momentum in January jumped on Red Sea re-routes and a Y/Y increase in operating days. We highlight a growing gap between...

Tracking Traffic

Maersk FY23 Meets Guidance | But FY24 Guidance & Commentary Rock Hopeful 'Glass Half-Full' Investors

Maersk's downbeat commentary appeared to surprise investors last week. It also revealed a mismatch between management's long-term views and...

Tracking Traffic

Monthly Container Shipping Tracker | Rate Momentum +ive | Throughput Up, Too | (January 2024)

Price momentum for deep-sea container rates is improving, and container volumes are also firming. Meanwhile, cheap fuel remains a slightly helpful...

Tracking Traffic

TWSE Short Interest Weekly (Jan 5th): Wan Hai Lines, Silergy, Quanta Computer, Asustek Computer

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Wan Hai Lines, Silergy, Quanta Computer, Asustek...

Ke Yan, CFA, FRM

Monthly Container Shipping Tracker | Lapping Easy Comps | Red Sea Re-Routes & More (December 2023)

We believe price momentum has started to get "less bad", mainly due to easier Y/Y comps. A potential Red Sea re-route could soak up lots of under...

Tracking Traffic

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)