Pacific Basin - Recent fall in stock prices offers opportunity to buy
In the last 12 months, Pacific Basin’s stock price fell by 26.6%, but we believe there is significant upside, especially considering our positive outlook on Supramax and Handysize vessels. Trade of minor bulk and coking coal will continue to rise in addition to the projected strengthening of demand for wood chips and wood pellets as alternative energy sources. A surge in soybean imports in China to feed the increasing hog population will keep Supramaxes busy. These coupled with limited fleet growth of both vessel segments will support their earnings. We believe rates will remain above breakeven over the next three years, highlighting the potential for generating profitability and cash inflows which will support the uptrend in stock prices and create shareholder value. As a result, we remain bullish on the company’s prospects.
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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