Retracing key management failures at China’s flagship shipping companies
When I initiated on the day of the China Shipping Container Lines IPO with a Sell rating back in 2004 I did so for three main reasons: 1) there was a complete lack of disclosure of the related party...
View ArticleNOL’s potential deals – reading between the lines
NOL’s wording in its press announcement today does seem to confirm the press reports last week of a potential sale of NOL/APL. Without knowing any details, it would seem things could be coming together...
View ArticleCosco – China Shipping merger: Can you make a national champion out of failures?
After many years of rumours, we now have confirmation that China’s government is moving to reorganise its largest shipping companies. China’s mandarins may have little recourse but to hire the likes of...
View ArticleCosco and China Shipping merger: First impressions
I spent most of Sunday looking through COSCO and COSCO Pacific reorganization disclosures. I found my conclusions and readings quite different than press reports. For the big picture politics side, the...
View ArticleThe geopolitical implications of OOCL as next domino (post Hamburg Süd)
Sounds like a Cold War title. But that’s just it. It’s not so much that Trump is elected that warrants a need to look at ‘trade wars’. We will likely get some growing trade friction, yes. But what we...
View ArticleNo longer a Seaspan bear
Container shipowners have been through a very rough patch. Danaos has been under a microscope among listed shares. And Seaspan has been the bigger disappointment given its leadership position. Rickmers...
View ArticleConcerns about how the Cosco deal for OOCL came about
Few people have tracked the highs and lows of Cosco and OOCL more closely than Charles de Trenck over the years. Today he runs the rule over Sunday’s merger news. It’s nice to sometimes say ‘been...
View ArticleThe coming impact of electric vehicles on bulk shipping
Like Bitcoin, electric vehicles (EVs) are topics du jour and fascinating subjects. EVs, though, I find more interesting in that they have more moving parts and are a topic the shipping industry should...
View ArticlePacific Basin valuation approaches need a rethink
During the peak of China-induced global peak in commodities boom around 2008 I spoke at a shipping conference in New York that another analyst and I helped arrange. A New York-listed shipping company...
View ArticleShipping’s false idols of equity and debt
A colleague’s piece I read recently mixed up some of his financial terms in an obvious market shorthand manner that reminded me how seasoned investors fudge their numbers such that they can side with...
View ArticleHow to approach the rebound in container vessel owner values
In January I wrote for Splash on Pacific Basin valuation approaches. Bulk has been in a rebounding form from low-lows pattern for some time. The key is always 1) the average base at higher levels, and...
View ArticleNOL’s potential deals – reading between the lines
NOL’s wording in its press announcement today does seem to confirm the press reports last week of a potential sale of NOL/APL. Without knowing any details, it would seem things could be coming together...
View ArticleCosco – China Shipping merger: Can you make a national champion out of failures?
After many years of rumours, we now have confirmation that China’s government is moving to reorganise its largest shipping companies. China’s mandarins may have little recourse but to hire the likes of...
View ArticleCosco and China Shipping merger: First impressions
I spent most of Sunday looking through COSCO and COSCO Pacific reorganization disclosures. I found my conclusions and readings quite different than press reports. For the big picture politics side, the...
View ArticleThe geopolitical implications of OOCL as next domino (post Hamburg Süd)
Sounds like a Cold War title. But that’s just it. It’s not so much that Trump is elected that warrants a need to look at ‘trade wars’. We will likely get some growing trade friction, yes. But what we...
View ArticleNo longer a Seaspan bear
Container shipowners have been through a very rough patch. Danaos has been under a microscope among listed shares. And Seaspan has been the bigger disappointment given its leadership position. Rickmers...
View ArticleConcerns about how the Cosco deal for OOCL came about
Few people have tracked the highs and lows of Cosco and OOCL more closely than Charles de Trenck over the years. Today he runs the rule over Sunday’s merger news. It’s nice to sometimes say ‘been...
View ArticleThe coming impact of electric vehicles on bulk shipping
Like Bitcoin, electric vehicles (EVs) are topics du jour and fascinating subjects. EVs, though, I find more interesting in that they have more moving parts and are a topic the shipping industry should...
View ArticlePacific Basin valuation approaches need a rethink
During the peak of China-induced global peak in commodities boom around 2008 I spoke at a shipping conference in New York that another analyst and I helped arrange. A New York-listed shipping company...
View ArticleShipping’s false idols of equity and debt
A colleague’s piece I read recently mixed up some of his financial terms in an obvious market shorthand manner that reminded me how seasoned investors fudge their numbers such that they can side with...
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