I have seldom enjoyed a scuba diving chat like I did last night with a true pro who just returned from Egypt, and that was all more exciting as it came on the day DSV stock traded at new multi-month lows just about $6-equivalent away (Dkr39.5) from the price when it valued Agility GIL (Dkr1,299.5)...
The numbers for the liner industry are in and boy did it have a vintage year – the best that Drewry has records for, according to the consultant’s Q1 ’21 forecaster.
It estimates – and I think we can be pretty confident in the figures at this point – a 2020 ebit for the industry at $26.6bn, with the...
https://theloadstar.com/snapshot-jubilant-shipping-lines-set-for-record-21-but-it-wont-last-forever/
Preliminary port throughput data for the world’s largest 25 container ports has been published by Alphaliner this week.
The headline is that 13 of the top 25 saw growth, and 12 saw box volumes shrink – we should be wary of extrapolating this to the wider port market however, as it is still unclear whether their gains are the result of market growth or more simply the result of smaller ports’ losses (check Dalian below).
Some quay points
Chinese ports consolidated their position in the …
The...
https://theloadstar.com/snapshot-port-volumes-as-muddy-as-hell/
There hasn’t been any update since mid-December from New Zealand’s Mainfreight, but nonetheless its value on the stock exchange reached yet another record high on 31 December: NZ$70 apiece.
For an implied market cap of US$4.93bn.
Which, in a nutshell, implies what exactly on a relative/fundamental basis?
For one thing, the increasingly growing forward disconnect between value and yield – one, respectively, too high the other too low? Pass, this is a high-quality …
The post Snapshot: Mainfreight...
https://theloadstar.com/snapshot-mainfreight-beyond-rational-now/
If there’s one broker that deserves credit as far as their call on Danaos is concerned, it’s surely Jefferies – which safely labelled the non-operating container ship owner “a top pick” around the end of the third quarter.
Even for them, though, the rally was too good to be predicted. You read it...
https://theloadstar.com/snapshot-danaos-better-safe-than-sorry/
The arrival of Søren Toft as the new chief executive of MSC is going to be a fascinating story.
It could be the nearest thing to a Hollywood film script in the shipping industry (apart, obvs, from Somali pirates kidnapping Captain Phillips, which became precisely that, even if in the hands of Bourne Identity director Paul Greengrass it may have been little too high-octane for some tastes).
But in terms of dramatic …
The post Snapshot: New era at MSC? Søren Toft is in the building appeared first...
https://theloadstar.com/snapshot-new-era-at-msc-soren-toft-is-in-the-building/
The financial market can be a weird place at times, but when it comes to 3PL Mainfreight (MFT) out of Auckland it’s hard to discern what could go wrong on the road to a steep capital appreciation in years to come.
Particularly if this little gem – it’s unique of its kind, as I’ve argued since March...
https://theloadstar.com/snapshot-mainfreght-marches-on-to-nz100/
All,
Please join the priest and the altar lady in silent prayer after some of the findings in the third-quarter numbers (Q3 ’20) released by Deutsche Post DHL (DP-DHL) last week on Tuesday – which were broadly in-line with the pre-Q3 ’20 announcement five weeks ago or so.
In short, what it gained one day in early October on the stock market, it lost last week – barring broader trading considerations. Try again? Uhmm.
A minute …
The post Snapshot: Enter a transpac silver lining for DHL, where...
https://theloadstar.com/snapshot-enter-a-transpac-silver-lining-for-dhl-where-poor-expeditors-leads/
US flag carrier Matson reported its Q3 ’20 results on Tuesday – in short, implied headline growth rates were stunning, as shown in the screen grab below.
Sources highlighted the performance, adding: “It is a monopoly, a US flag carrier for the Hawaii trade. They have smaller ships, but a dedicated terminal in LA, and a premium product at least $600 above all others, and one-to-three days better transit time ex-Shanghai.”
With …
The post Snapshot: A round of applause for Matson, please appeared...
https://theloadstar.com/snapshot-a-round-of-applause-for-matson-please/
We all read the full release here before the stock markets opened on Wednesday: DSV Panalpina (DSV PAN) has acquired Denmark’s Prime Cargo from the Mitsui-Soko Group in Japan.
Firstly, the financials were undisclosed. Secondly, as broadly expected, its stock was unchanged in early trade, then falling almost 1% ever closer to Dkr1,000 before bouncing back closer to its previous close, while most markets, including US futures, are deeply in the red today as …
The post M&A radar: Prime who? DSV...
https://theloadstar.com/ma-radar-prime-who-dsv-panalpina-warms-up-for-the-main-course/