Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

TRACKING TRAFFIC/Three Suggested Pair Trades in Travel, Express & Shipping

TRACKING TRAFFIC/Containers & Air Cargo: Volumes, Rates & Bunker All Firmer | Valuations Get Weird

TRACKING TRAFFIC/Chinese Express: Volume Growth Moderates | Pricing Stays Depressed

TRACKING TRAFFIC/Container Shipping: Shortage of Empties Creates Surprisingly Tight Conditions

Evergreen Marine (2603:TT) Posts Best Quarterly Earnings in Years, Mainly on Lower Fuel Costs

TRACKING TRAFFIC/Containers & Air Cargo: Box Rates Firm | LA Down in Nov? | Air Cargo Pricing Eases

TRACKING TRAFFIC: Containers & Air Cargo: August Volumes Jump | New PoLA Data Firm Through October

TRACKING TRAFFIC/Containers & Air Cargo: July Volume & Rates Better | Q2 Profits Soar on Costs

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Equity Bottom-Up

<section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/172/990/original/BANNER-CARGO.png?1605979844" class="editor-image img-responsive" data-smartkarma-image-id="172990"></figure></section><p>Average container rates popped in October, up almost 14% YoY according to our proprietary model. Container volumes out of Asia and into the North American West coast remained firm, too.</p><p>Carriers (and their customers) have once again begun complaining about a shortage of containers at key origins in Asia. We believe this equipment shortage also supports firmer container rates.</p><p>Firming rates and volumes, combined with relatively low fuel prices, are delivering a surprisingly good year to container carriers, Covid19 be damned. But we feel most of the good news has been reflected in share prices, many of which have more than doubled from lows in H1 2020. </p>

Average container rates popped in October, up almost 14% YoY according to our proprietary model. Container volumes out of Asia and into the North American West coast remained firm, too.Carriers (and their customers) have once again begun complaining about a shortage of containers at key origins in Asia. We believe this equipment shortage also supports firmer container rates.Firming rates and volumes, combined with relatively low fuel prices, are delivering a surprisingly good year to container carriers, Covid19 be damned. But we feel most of the good news has been reflected in share prices, many of which have more than doubled from lows in H1 2020. 

China International Marine Cntnrs Gp (2039 HK)

TRACKING TRAFFIC/Containers & Air Cargo: October Rates Pop | LA Volumes Strong | Box Shortage?

Evergreen Marine Corp

TRACKING TRAFFIC/Containers & Air Cargo: October Rates Pop | LA Volumes Strong | Box Shortage?