Report
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Port Operators - Valuations downshift on structural changes


  • Market multiples justify softening yield
  • Valuations adjustment to a new normal
  • Cheapest valuation in 7 years on structural weakness to drive M&A
  • DP World: Strong profitability with sustainable growth momentum , Disciplined portfolio structure underpins yield growth
  • Westports: Unattractive valuation with significant downside, Throughput expected to suffer on prospective alliance changes
  • Global Ports: Bolstering fundamentals amid macro headwinds, Throughput expected to suffer on prospective alliance changes
  • ICTSI: Positioned for emerging market rebound, Emerging market play on the horizon? 

  • Underlying
    DP World, Global Ports, ICTSI, Westports

    Provider
    Drewry Maritime Equity Research
    Drewry Maritime Equity Research

    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.

    Analysts
    Rahul Kapoor

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