Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Monthly Container Shipping Tracker | Rebound in NAM Volume Could Be Inflection Point (October 2023)

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

Monthly Container Shipping Tracker | Maersk, Evergreen, ZIM Report Disparate Results (November 2023)

Evergreen Marine: 'H1 Earnings Plunged Dramatically Y/Y' | Also, 'H1 Earnings Were Pretty Damn Good'

Monthly Container Shipping Tracker | Rates Bottoming | Fuel Tailwind Easing? | (August 2023)

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

<ul>
<li>Our index suggests pricing momentum remains depressed, but stable in Q3; fuel prices have begun to rise from Q2 lows, but probably don't offer much lift to earnings now</li>
<li>We looked at intra-Asian carrier TS Lines (which applied to list its shares in Hong Kong in April) and provided a quick update on market conditions in the Intra-Asian trade</li>
<li>Shares of a few container shipping companies -- including Evergreen Marine of Taiwan -- have performed well YTD in 2023; we remain positive on the sector's medium-term outlook</li>
</ul>


Our index suggests pricing momentum remains depressed, but stable in Q3; fuel prices have begun to rise from Q2 lows, but probably don't offer much lift to earnings now
We looked at intra-Asian carrier TS Lines (which applied to list its shares in Hong Kong in April) and provided a quick update on market conditions in the Intra-Asian trade
Shares of a few container shipping companies -- including Evergreen Marine of Taiwan -- have performed well YTD in 2023; we remain positive on the sector's medium-term outlook


Monthly Container Shipping Tracker | Rates Stable | Fuel (Barely) Lower Y/Y | (September 2023)

Evergreen Marine Corp

Monthly Container Shipping Tracker | Rates Stable | Fuel (Barely) Lower Y/Y | (September 2023)