Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

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

Pair Trade Idea: Short Evergreen Against Long Maersk / ZIM

Monthly Container Shipping Tracker | February Spot Rates Strong | Volume Firm, Too | (March 2024)

Maersk Q3: Estimates Met, Guidance Kept | But Downbeat Assessment of Market Sends Shares Down -17%

Maersk Q2: Raised FY23 Guidance | Beat on Earnings, Too | Takeaway: Conditions Not Disastrous

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

TS Lines Pre-IPO | Slimming Down Fleet | Intra-Asia Market Update | Latest From Key Comp Wan Hai

TS Lines Pre-IPO | Like Wan Hai Lines, but Smaller | Intra-Asia Update | Approaches to Valuation

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Equity Bottom-Up

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


ZIM Integrated Shipping Services (ZIM US)

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