Against the odds

Against the odds: Hapag-Lloyd turnaround a solid M&A proxy for CMA CGM?

“The stable rating outlook is anchored in our expectations of (1) continued pricing discipline, resulting in prioritisation of sustaining solid profitability; (2) flawless pass-through of the increased bunker costs stemming from IMO 2020; and (3) continued focus on sustaining a strong balance sheet. If our expectations materialise, our projections point to free cash flow (FCF)/debt of 9%-11% and debt/ebitda of 3.0x-3.5x over the next 12-18 months.”
– Moody’s on Hapag-Lloyd, sourced …

The post Aga...

https://theloadstar.com/against-the-odds-hapag-lloyd-turnaround-a-solid-ma-proxy-for-cma-cgm/

Against the odds: DSV hits new high as K+N goes back to the future

February 20, 2020: Here comes another milestone for Denmark’s DSV Panalpina (DSV PAN) as its stock finally broke through the Dkr800 threshold at least momentarily in early trade today.
Unfortunately, the party was swiftly partly spoiled by compatriot, asset-heavy carrier AP Møller-Mærsk (APMM). But even more relevant this week – for those keen to track corporate model changes – were the latest developments at Kuehne + Nagel, one of DSV PAN’s closest …

The post Against the odds: DSV hits new high...

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Happy birthday radar: Premium – It’s only just begun…

It’s our birthday today at Premium – our first birthday, already!
Thank you, thank you, thank you all!
In a nutshell, we have learnt lessons. We have sometimes been right, sometimes been wrong, but as The Loadstar publisher, Alex Lennane, put it to me today:
“Premium has gone from strength to strength in its first year. While not always liking what they read, the major logistics companies recognise that its unique blend of …

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Against the odds – Come on, Klaus-Michael Kuehne: spin off the core ocean freight business

In 2029, Klaus-Michael Kuehne will be 92 – I can picture him boasting about the greatness of a grand plan that only he could envisage.
First off, though, the Q2/H1 19 numbers released today by the ocean freight leader, Kuehne + Nagel.
Next 
Most of the headline numbers contained in its second-quarter (Q2) trading update released today were broadly in line with our expectations – please click here and here for our previous Premium …

The post Against the odds – Come on, Klaus-Michael Kuehne: spin...

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Against the odds: There’s no doubt about it – this year is pretty disappointing … so what comes next?

Against the odds comes in two forms: a column, on merit when warranted, and a monthly excel calculator (see below for our previous coverage). It challenges common sell-side wisdom in financial markets that the future often has better events in store than the past. The vast majority of consensus estimates from analysts, often modelled against a company’s guidance, are a case in point.
In a typical bearish fashion, we aim to …

The post Against the odds: There’s no doubt about it – this year is...

https://theloadstar.com/against-the-odds-a-disappointing-first-quarter-all-round-where-do-we-go-from-here/

Against the odds: Put UPS and FedEx in your basket

Against the odds comes in two forms: a column, on merit when warranted, and a monthly excel calculator, which is updated around the beginning of each calendar month. It challenges common sell-side wisdom in financial markets that the future often has better events in store than the past. The vast majority of consensus estimates from analysts, often modelled against a company’s guidance, are a case in point.
In a typical bearish fashion, …

The post Against the odds: Put UPS and FedEx in your...

https://theloadstar.co.uk/against-the-odds-new-year-no-change/

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