Hutchison Port Holdings Trust
Since its IPO in 2011, Hutchison Port Holdings Trust (HPHT or the company) stock has been on a downward trend (down ~90%). In the more recent years, the company’s equity market performance has been battered by a number of adverse events including i) Hong Kong’s inability to cope with increased competition from its Chinese counterparts, ii) the US-China trade war, and finally iii) COVID-19-led trade disruptions. However, in the past two months the stock has jumped more than 60% from its lows reported on 14 August 2020, covering most of the ground it lost in the COVID-19-led fire sale earlier this year. Through this write-up, we will try to demystify reasons behind such a strong up-move.Hutchison Port Holdings Trust is a container port business trust. Co. is engaged in investing in, developing, operating and managing deep-water container ports in the Guangdong Province of the People's Republic of China, Hong Kong and Macau. Co. may also invest in other types of port assets including river ports, which are complementary to the deep-water container ports owned by Co., as well as undertake certain port ancillary services including, trucking, feedering, freight-forwarding, supply chain management, warehousing and distribution services. As of Dec 31 2014, Co. owned interests in four deep-water container ports located in Kwai Tsing in Hong Kong and Shenzhen in China.
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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