Acquisition of QPI Favors CSP's Long-Term Strategic Position, But Valuation Is Unattractive

COSCO Shipping Ports' Faustian Bargain and Impact of Restructuring on 2016 Financials

Portfolio Manager,  Equity Long Short Fund, Thirdrock Capital 

Shawn Tan

Portfolio Manager,  Equity Long Short Fund

Thirdrock Capital 

Equity Bottom-Up

Qingdao Port International / Equity Bottom-Up

<p>A well run deep water port in a good location is a stable and attractive business as competition tends to be muted.  Qingdao Port continued to raise prices and volumes in the last couple of years despite weak global trade volumes.  This speaks to the strength of its franchise.  Own a piece of this well placed and resilient port operator at a fantastic price.</p>

A well run deep water port in a good location is a stable and attractive business as competition tends to be muted.  Qingdao Port continued to raise prices and volumes in the last couple of years despite weak global trade volumes.  This speaks to the strength of its franchise.  Own a piece of this well placed and resilient port operator at a fantastic price.

Qingdao Port International

A Valuable Find in Qingdao