Cosco Shipping Ports (HK 1199) 1Q19 Result Update
Cosco Shipping Port (CSP) acquired Chancay terminal (with one mteu capacity) in January 2019, which is now set to be developed into a key gateway port in Peru. We anticipate CSP’s European subsidiaries to grow at a healthy rate for 2019. CSP has begun groundwork to expand into deeper logistics. We believe CSP’s parent company’s association with OCEAN alliance will continue to provide a positive boost to group throughput levels in FY19e. Financial health remain intact despite leveraged acquisitions of terminals in Europe. CSP’s acquisition strategy is central to China’s Belt and Road Initiative.COSCO Shipping Holdings Company is engaged in providing container shipping, dry bulk cargo shipping, logistics, terminals and container leasing businesses. Through its subsidiaries, Co. is also engaged in container transportation; freight forwarding; the provision of passenger and cargo transportation services; shipping agency; logistics business; marine services; operation of container terminal; investment holding; warehousing, deport and cargo terminal service; treasury business; vessel owning and chartering; and the provision of vessel management and manning services.
Drewry, since 1970, has been providing research and advisory services on the global Maritime and Shipping industries and has established itself as a firm with long history of credibility and expertise on various aspects of the maritime industry. Leveraging this in-depth market knowledge and understanding, we have extended our offering to deliver a unique, independent investment research service on globally listed companies operating in the maritime industry. Under the brand Drewry Maritime Equity Research and in accordance with the FCA, DMER led by Rahul Kapoor and his team, offers fundamental analysis on listed companies. DMER analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. By combining these market-leading resources with seasoned sector expertise and commercial awareness, we are able to offer a highly differentiated and comprehensive investment research service to prospective investors in listed maritime companies. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.
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