Asia Shipping_ Looking Over the Horizon-Part VI_ Elevated rates for longer, U_G Evergreen and COSCO to Buy
-·2024-12-19 16:37
更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 16 Dec 2024 09:39:51 ET │ 42 pages Our July 2024 sector downgrade proved overly bearish as we did not expect the pull-forward demand to last into DecQ-24, that has been partly holding SCFI above the 2,000 level. We reassessed risks / rewards and see positive payoffs at 0.8-0.9x 2025E PBV of APAC liners under coverage in relation to revised up 2025E core ROE of 8-12% from cBE earlier. This is driven by expected demand strength in MarQ-25E that is close to be able to cover TransPa ...