Transport Sector, China and Asia-focused Research

Charles De Trenck

Equity Bottom-Up

Orient Overseas International / Equity Bottom-Up

<p>Don’t get me wrong. I still like <a href="https://www.smartkarma.com/entities/801" target="_blank" data-smartkarma-citation="entities:801:1">Orient Overseas Intl Ltd (316 HK)</a>, OOIL/OOCL, as an operator long term. Always have. And I may come back at another price or time. But there are a few issues worth drawing out, now that analysts have gone gaga over shipping – including notably <a href="https://www.smartkarma.com/entities/286" target="_blank" data-smartkarma-citation="entities:286:1">China COSCO Holdings (H) (1919 HK)</a> which is at some 3x OOIL on a P/B and which still is not fit for long term investing. I list my reasons in selling OOIL in easy bullets further below.</p><p>OOIL was at HK$30 when I bought and…</p>

Don’t get me wrong. I still like Orient Overseas Intl Ltd (316 HK), OOIL/OOCL, as an operator long term. Always have. And I may come back at another price or time. But there are a few issues worth drawing out, now that analysts have gone gaga over shipping – including notably China COSCO Holdings (H) (1919 HK) which is at some 3x OOIL on a P/B and which still is not fit for long term investing. I list my reasons in selling OOIL in easy bullets further below.OOIL was at HK$30 when I bought and…

Why I Just Sold Orient Overseas (OOIL) At HK$45