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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

<ul>
<li>
2019: Better financial year ahead for StealthGas
</li>
<li>Fleet deployment heavy on fixed voyages: 60% of the days for full-year 2019 booked on time charters</li>
<li>Return to profitability and sale of vessels will partly ease liquidity; risk remains moderate as the net debt of the company stands at 64.8% of its market adjusted fleet value</li>
<li>Supply-demand to remain unaffected by deliveries in the coaster segment</li>
<li>Fair value of the stock downgraded to USD 4.15 per share from USD 4.50 per share; due to the upside of 36% from the current price, we retain the Attractive rating on the stock.</li>
</ul><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/077/050/original/Valuation%20guidance_GASS.PNG?1548680728" class="editor-image img-responsive" data-smartkarma-image-id="77050"></figure><div class="content-caption">Valuation guidance</div>Source: S&amp;P Capital IQ, Drewry



2019: Better financial year ahead for StealthGas

Fleet deployment heavy on fixed voyages: 60% of the days for full-year 2019 booked on time charters
Return to profitability and sale of vessels will partly ease liquidity; risk remains moderate as the net debt of the company stands at 64.8% of its market adjusted fleet value
Supply-demand to remain unaffected by deliveries in the coaster segment
Fair value of the stock downgraded to USD 4.15 per share from USD 4.50 per share; due to the upside of 36% from the current price, we retain the Attractive rating on the stock.
Valuation guidanceSource: S&amp;P Capital IQ, Drewry

StealthGas (NasdaqGS:GASS): Improvements in Bottom Line Following the Shedding of Older Tonnage?

StealthGas Inc

StealthGas (NasdaqGS:GASS): Improvements in Bottom Line Following the Shedding of Older Tonnage?