Upload File

dyhudjh ri mxvw wlphv · 2020. 6. 27. · 3djh &rs\uljkw $oskdolqhu d z o z o ] v t l o Ç e Á...

  • Home
  • Documents
  • DYHUDJH RI MXVW WLPHV · 2020. 6. 27. · 3DJH &RS\ULJKW $OSKDOLQHU d Z o Z o ] v t l o Ç E Á o © ] ] ] µ À Ç d µ Ç X / v ( } u } v ] P ] À v ] v P } } ( ] Z µ Á ] Z }
1
Page 1 © Copyright Alphaliner 1999-2020 dŚĞ ůƉŚĂůŝŶĞƌ tĞĞŬůLJ EĞǁƐůĞƩĞƌ ŝƐ ĚŝƐƚƌŝďƵƚĞĚ ĞǀĞƌLJ dƵĞƐĚĂLJ /ŶĨŽƌŵĂƟŽŶ ŝƐ ŐŝǀĞŶ ŝŶ ŐŽŽĚ ĨĂŝƚŚ ďƵƚ ǁŝƚŚŽƵƚ ŐƵĂƌĂŶƚĞĞ ůƉŚĂůŝŶĞƌ ĚŽĞƐ ŶŽƚ ĂĐĐĞƉƚ ĂŶLJ ůŝĂďŝůŝƚLJ ĨŽƌ ĂŶLJ ĞƌƌŽƌƐ Žƌ ŽŵŝƐƐŝŽŶ Žƌ ŽƉŝŶŝŽŶ WůĞĂƐĞ ƐĞŶĚ LJŽƵƌ ĨĞĞĚďĂĐŬ ĐŽŵŵĞŶƚƐ ĂŶĚ ƋƵĞƐƟŽŶƐ ƚŽ ĞĚŝƚŽƌΛĂůƉŚĂůŝŶĞƌĐŽŵ hŶĂƵƚŚŽƌŝnjĞĚ ƌĞĚŝƐƚƌŝďƵƟŽŶ ŽĨ ƚŚĞ ŶĞǁƐůĞƩĞƌ ŝƐ ƉƌŽŚŝďŝƚĞĚ ĂŶĚ ƌĞĂĚĞƌƐ ĂƌĞ ƌĞƋƵĞƐƚĞĚ ƚŽ ƋƵŽƚĞ ůƉŚĂůŝŶĞƌ ĂƐ ƐŽƵƌĐĞ ĨŽƌ Ăůů ĚĂƚĂ ĚĞƌŝǀĞĚ ĨƌŽŵ ƚŚĞ ŶĞǁƐůĞƩĞƌ WůĞĂƐĞ ƌĞĨĞƌ ƚŽ ĨƵůů ƵƐĞƌ ƚĞƌŵƐ ĂŶĚ ĐŽƉLJƌŝŐŚƚƐ Ăƚ ŚƩƉƐǁǁǁĂůƉŚĂůŝŶĞƌĐŽŵƌĞƐŽƵƌĐĞƐůƉŚĂůŝŶĞƌͺdĞƌŵƐƉĚĨ INSIDE THIS ISSUE: Hapag-Lloyd valuation at historic high 1 Corporate Updates Carriers report mixed 1st quarter results CMA CGM secures ¼1.05 Bn state backed loan COVID-19 will expose some NOOs 2 Inactive fleet at new record high 5 Charter Market Updates 6 Service Updates Demand for transpacific space prompts carriers to raise USWC capacity CMA CGM and MSC add Malta calls to Europe - Australia service CNC and ONE swap Intra-Asia slots Hapag-Lloyd suspends three Baltic feed- er services for six months 2M and THEA continue to cut Transatlan- tic capacity H-L reduces frequency of Europe-WAF 'Dakar Express' CFS revises Guyana and Suriname cover- age PIL and COSCO unveil new Asia - West Africa offering 10 Delivery/Vessel Updates May deliveries 20 Port and Terminal Updates Bahia Terminal receives three new STS Eight Liebherr STS for new Tanger Alli- ance Terminal 21 :HE ZZZDOSKDOLQHUFRP _ (-PDLO HGLWRU#DOSKDOLQHUFRP _ 6DOHV FRPPHUFLDO#DOSKDOLQHUFRP $/3+$/,1(5 :HHNO\ 1HZVOHWWHU sŽůƵŵĞ ϮϬϮϬ /ƐƐƵĞ ϮϬ ϭϯϬϱϮϬϮϬ ƚŽ ϭϵϬϱϮϬϮϬ Hapag-Lloyd share price hits stratospheric levels While share prices of the main container shipping companies have fallen by an average of 19% in the past year as the impact of the COVID-19 pandemic takes its toll, Hapag-Lloyd’s share price has risen by 630% to reach a record high of ¼186 per share on 15 May. The spectacular run-up in Hapag-Lloyd’s share price has pushed the company’s market capitalization to a dizzying $34.6 Bn, which is more than the combined market valuation of the next nine largest pub- licly listed container shipping companies. Hapag-Lloyd’s price to book value stood at 4.7 times, compared to an industry average of just 0.8 times. Hapag-Lloyd’s management was unable to explain the reason for the share price appreciation during the company’s first quarter results announcement last week apart from pointing out the very low public free-float of just 3.6% of its shares as at the end of March. The accumulation of shares by Klaus Michael Kuehne and CSAV appears to have continued to drive the share price, but this could not be verified as Hapag- Lloyd did not provide the updated shareholdings since 31 March when the com- pany’s share price was trading at just ¼67 before the recent price surge. Both Kuehne and CSAV have been steadily increasing their shareholdings in Hapag-Lloyd since the end of 2017, with Kuehne’s stake rising from 19.0% to 30.0% and CSAV’s stake rising from 25.5% to 30.0%, according to the latest shareholders list as at the end of March 2020. It is unclear if there is any discord between the two key shareholders who, to- gether with the City of Hamburg which holds a 13.9% stake, had formed a con- trolling shareholder bloc that are bound to vote unanimously at Hapag-Lloyd’s shareholders meetings. +DSDJ-/OR\G YDOXHG DW PRUH WKDQ QLQH PDLQ FDUULHUV FRPELQHG Chart of the week ALPHALINER +DSDJ-/OR\G VKDUHKROGHU VWUXFWXUH $V DW 0DUFK .XHKQH &6$9 +*9 &LW\ RI +DPEXUJ 4DWDU +ROGLQJ 3,) 6DXGL $UDELD )UHH )ORDW

Upload: others

Post on 02-Mar-2021

1 views

Category:

Documents


0 download

Report

TRANSCRIPT

Page 1: DYHUDJH RI MXVW WLPHV · 2020. 6. 27. · 3DJH &RS\ULJKW $OSKDOLQHU d Z o Z o ] v t l o Ç E Á o © ] ] ] µ À Ç d µ Ç X / v ( } u } v ] P ] À v ] v P } } ( ] Z µ Á ] Z }

Page 1 © Copyright Alphaliner 1999-2020

�

dŚĞ��ůƉŚĂůŝŶĞƌ�tĞĞŬůLJ�EĞǁƐůĞƩĞƌ�ŝƐ�ĚŝƐƚƌŝďƵƚĞĚ�ĞǀĞƌLJ�dƵĞƐĚĂLJ͘��/ŶĨŽƌŵĂƟŽŶ�ŝƐ�ŐŝǀĞŶ�ŝŶ�ŐŽŽĚ�ĨĂŝƚŚ�ďƵƚ�ǁŝƚŚŽƵƚ�ŐƵĂƌĂŶƚĞĞ͘��ůƉŚĂůŝŶĞƌ�ĚŽĞƐ�ŶŽƚ�ĂĐĐĞƉƚ�ĂŶLJ�ůŝĂďŝůŝƚLJ�ĨŽƌ�ĂŶLJ�ĞƌƌŽƌƐ�Žƌ�ŽŵŝƐƐŝŽŶ�Žƌ�ŽƉŝŶŝŽŶ͘�WůĞĂƐĞ�ƐĞŶĚ�LJŽƵƌ�ĨĞĞĚďĂĐŬ͕�ĐŽŵŵĞŶƚƐ�ĂŶĚ�ƋƵĞƐƟŽŶƐ�ƚŽ�ĞĚŝƚŽƌΛĂůƉŚĂůŝŶĞƌ͘ĐŽŵ͘�hŶĂƵƚŚŽƌŝnjĞĚ�ƌĞĚŝƐƚƌŝďƵƟŽŶ�ŽĨ�ƚŚĞ�ŶĞǁƐůĞƩĞƌ�ŝƐ�ƉƌŽŚŝďŝƚĞĚ�ĂŶĚ�ƌĞĂĚĞƌƐ�ĂƌĞ�ƌĞƋƵĞƐƚĞĚ�ƚŽ�ƋƵŽƚĞ�͚�ůƉŚĂůŝŶĞƌ͛�ĂƐ�ƐŽƵƌĐĞ�ĨŽƌ�Ăůů�ĚĂƚĂ�ĚĞƌŝǀĞĚ�ĨƌŽŵ�ƚŚĞ�ŶĞǁƐůĞƩĞƌ͘��WůĞĂƐĞ�ƌĞĨĞƌ�ƚŽ�ĨƵůů�ƵƐĞƌ�ƚĞƌŵƐ�ĂŶĚ�ĐŽƉLJƌŝŐŚƚƐ�Ăƚ�ŚƩƉƐ͗ͬͬǁǁǁ͘ĂůƉŚĂůŝŶĞƌ͘ĐŽŵͬƌĞƐŽƵƌĐĞƐͬ�ůƉŚĂůŝŶĞƌͺdĞƌŵƐ͘ƉĚĨ�

INSIDE THIS ISSUE: Hapag-Lloyd valuation at historic high 1

Corporate Updates Carriers report mixed 1st quarter results CMA CGM secures ¼1.05 Bn state

backed loan COVID-19 will expose some NOOs

2

Inactive fleet at new record high 5

Charter Market Updates

6

Service Updates Demand for transpacific space prompts

carriers to raise USWC capacity CMA CGM and MSC add Malta calls to

Europe - Australia service CNC and ONE swap Intra-Asia slots Hapag-Lloyd suspends three Baltic feed-

er services for six months 2M and THEA continue to cut Transatlan-

tic capacity H-L reduces frequency of Europe-WAF

'Dakar Express' CFS revises Guyana and Suriname cover-

age PIL and COSCO unveil new Asia - West

Africa offering

10

Delivery/Vessel Updates May deliveries

20

Port and Terminal Updates Bahia Terminal receives three new STS Eight Liebherr STS for new Tanger Alli-

ance Terminal

21

:HE��ZZZ�DOSKDOLQHU�FRP����_����(-PDLO��HGLWRU#DOSKDOLQHU�FRP����_���6DOHV��FRPPHUFLDO#DOSKDOLQHU�FRP

$/3+$/,1(5 :HHNO\�1HZVOHWWHU

sŽůƵŵĞ�ϮϬϮϬ�/ƐƐƵĞ�ϮϬ ϭϯ͘Ϭϱ͘ϮϬϮϬ�ƚŽ�ϭϵ͘Ϭϱ͘ϮϬϮϬ

Hapag-Lloyd share price hits stratospheric levels

While share prices of the main container shipping companies have fallen by an average of 19% in the past year as the impact of the COVID-19 pandemic takes its toll, Hapag-Lloyd’s share price has risen by 630% to reach a record high of ¼186 per share on 15 May. The spectacular run-up in Hapag-Lloyd’s share price has pushed the company’s market capitalization to a dizzying $34.6 Bn, which is more than the combined market valuation of the next nine largest pub-licly listed container shipping companies. Hapag-Lloyd’s price to book value stood at 4.7 times, compared to an industry average of just 0.8 times.

Hapag-Lloyd’s management was unable to explain the reason for the share price appreciation during the company’s first quarter results announcement last week apart from pointing out the very low public free-float of just 3.6% of its shares as at the end of March.

The accumulation of shares by Klaus Michael Kuehne and CSAV appears to have continued to drive the share price, but this could not be verified as Hapag-Lloyd did not provide the updated shareholdings since 31 March when the com-pany’s share price was trading at just ¼67 before the recent price surge.

Both Kuehne and CSAV have been steadily increasing their shareholdings in Hapag-Lloyd since the end of 2017, with Kuehne’s stake rising from 19.0% to 30.0% and CSAV’s stake rising from 25.5% to 30.0%, according to the latest shareholders list as at the end of March 2020.

It is unclear if there is any discord between the two key shareholders who, to-gether with the City of Hamburg which holds a 13.9% stake, had formed a con-trolling shareholder bloc that are bound to vote unanimously at Hapag-Lloyd’s shareholders meetings.

+DSDJ-/OR\G�YDOXHG�DW�PRUH�WKDQ�QLQH�PDLQ�FDUULHUV�FRPELQHG

Chart of the week

ALPHALINER

+DSDJ-/OR\G�VKDUHKROGHU�VWUXFWXUH� $V�DW����0DUFK�����

.XHKQH &6$9 +*9��&LW\�RI�+DPEXUJ� 4DWDU�+ROGLQJ 3,)��6DXGL�$UDELD� )UHH�)ORDW

BTSG Green Bond at Towards the Sustaibable …...^ µ ] v ] o ] Ç d^ ' } µ K µ Z } Á µ ] v ] o ] Ç d^ ' } µ ' v } v W v ] } v ñ ^ } } ^ µ ] v ] o ] Ç W } o ] Ç _ ] v o (

µ Ç } v Ç v u ] } v } ( u ] r µ u ] o ( o } ] v P Á ] v µ ...€¦ · µ Ç } v Ç v u ] } v } ( u ] r µ u ] o ( o } ] v P Á ] v µ ] v } v ] ] v P } u ] v Á À v µ v o

o ] v / v ( } u ] } v W l P ( } Z } } µ v ] Ç } ( t } l ~z } µ Z & u ] o ] & µ o o ... Pack... · x ^ o Ç W l P ] v P t À } o µ v Ç } P u Z v ] v Ç } µ l Z } u Ç Ç Æ

Settlement and Locality Names - calico.scot · Z ] v } µ ( o Ç ( } Ç o o Ç o } µ v Z Ç

v o Ç ] } ( Z o } } µ ] v v / D } o ] Z Ç o Z o } } µ ] v Ç > …...v o Ç ] } ( Z o } } µ ] v v / D } o ] Z Ç o Z o } } µ ] v Ç > rD^ lD^ µ ] v P < ] v Æ } r^

DQG IULHQGV Ç } ( < } l µ } } µ } u u µ v ] Ç ] v v€¦ · 6wv 3hwhu dqg 3dxo ,qylwhv

wellspringgardens.files.wordpress.com · W } µ o ( µ o o r À ] v µ À ] Ç Á ] v µ Z X d µ v r. s Ç o Ç U } µ À v µ v ] ( } u X } u U u ] r µ Z

^ u ï r í ñ Z - YMCA · ^ u ï r í ñ Z D } v Ç d µ Ç t v Ç d Z µ Ç & ] Ç ^ µ Ç ^ µ v Ç

^ ð ñ í W K ] v P ^ Ç u µ µ u v î ì î ì D } µ o ô ^ Ç v Z ...•/ u P ] v Ç } µ [ ] v P Z r ( ] u o u v ] } v } ( } u µ µ •d Z ] v ( ] ~ l Ç v µ ~ l Ç U À o

Ç v ^ v µ Z } ] Ç } ( / v ] ^ µ } Ç µ Z } ] Ç µ v D ] v ] Ç } ( , o Z & u ] o ... · 2020. 7. 31. · W P î } ( ï ï } v } ( } P } u v ] } v &^^ / t Z r ì í l î ì î

^ Ç v Z ] v ] } Ç v Z ] ^ µ ] } v Ç } u ] ] v - Thieme^ µ } Ç ^ Ç v Z ] v ] } Ç v Z ] ^ µ ] } v Ç } u ] ] v ^ µ ] ] Á X D Z U E ] Z } o Z X > U D Z Á : X Ç v U > ] r

SETAC Technical Workshop SOP^ d d Z v ] o t } l Z } Æ v ( } u í r } ñ r Ç v ] v o µ µ µ o o Ç ï ì r ñ ì ] ] v X } À Ç ( } u ( µ o o Ç } ] o o Ç ( µ v v } µ µ o

DQ VD 3DJVXVXUL QJ Ç v P µ µ ] v P } Ç v ] D o } µ ,VLQD

] y } Ç i µ ] v ' } v } ~ v } o u v u ] v } Ç ] ] µ ] v

&DPSXV /RFDWLRQ %XLOGLQJmams.rmit.edu.au/cryxlju486l2.pdf · E } } ( Z ] µ o ] ] } v u Ç } µ ] v v Ç ( } u } Ç v Ç u v U o

v µ À o µ ] v v v ] Ç v ] u ] v } µ o }

Ç v ^ v µ Z } ] Ç } ( / v ] ^ µ } Ç µ Z } ] Ç µ v D ] v ] Ç } ( , …...Microsoft Word - FSSAI Advt DR-012020 dt 31.07.2020 Author VinayKumarTarun Created Date 7/31/2020 6:30:43

Ç v ^ v µ Z } ] Ç } ( / v ] ^ µ } Ç µ Z } ] Ç µ v D ] v ... · Title: Microsoft Word - FSSAI Advt 04.01.2019 Author: Sunil Created Date: 1/25/2019 4:28:33 PM

W Ç u } v ] } v W sKd z · 2013. 3. 25. · sKd z ^ ( } } v } ( v Ç } µ Ç v } v ] } v J / ( Ç } µ Z À ] P v Z v Á } v sKd z ^ ( } } v } ] u } À Ç } µ Ç v } v ] } v J hZ

zE u ^ ] } µ v Ç ^ ] d Ç d v } v } µ v Ç , ^€¦ · o l & } Æ o u v Ç o Ç } µ v Ç rZ ] l ( Z } } o v & ] À ] Á } Ç v ' ] o o µ ^ } } µ v Ç rZ ] l ( Z } } o v

^ µ v Ç D } v Ç d µ Ç d Z µ Ç & ] Ç ^ µ Ç€¦ · ^ µ v Ç D } v Ç d µ Çt v Çd Z µ Ç & ] Ç ^ µ Ç í î ï ð ñ ò ó ô õ í ì í í í î í ï í ð í ñ

Whats New in 2019 Env Excellence Awards…9 µ v Ç Á ~ } o ] U Ç o ] v P U ZDt U Z Ì } µ 9 µ v Ç v P Ç ~ o ] ] Ç 9 µ v Ç Á µ

GUÓA DIDÆCTICA - Bautismo y Confirmación - Mayo 2018 · // X > } u v } o / v ] ] ] v ] ] v Ç v µ ] P v µ u } v u µ Ç v µ v µ ] P v µ v µ v o } µ } v }

P µ ] v P Z ] o v µ ] v P > } l } Á v€¦ · ^ ( P µ ] v P Z ] o v µ ] v P > } l } Á v d Z o } } ( ] + v Á Ç Ç } µ v P Z o ] ( Ç } µ Á } ] Title: C:UserscscfsgsmAppDataLocalTempmso9EAB.tmp

E µ v P D ] o ] Ç } u u µ v ] Ç ] } Ç o v P v

v µ ] } v ( } ^ µ v u o } Ç u v Z µ & } u ] v ^ u µ Ç W o µ d Z ^ µ v u o ... · 2020. 4. 22. · P v v u ] o } Ç } µ Z } µ P Z ^ u µ Ç W o µ X d Z µ v v v } P ]

LVW 2FWREHU ^ ] E u } µ v Ç µ Ç ] v P ' } µ ~ } d h v ... · ^ ] E u } µ v Ç µ Ç ] v P ' } µ ~ } d h v ] } v D o & u o d } o r î ó r ' ] }/ o Ç s ] ] v U ð ð U ' ]

v µ o ] Ç U ^ } ] o / v o µ ] } v v ] À ] o ^ } ] Ç v P ...kiat.or.id/resx/upload/Update_FINAL_GESI_and_CSE_Strate.pdf · ' v µ o ] Ç U ^ } ] o / v o µ ] } v v ] À ] o

µ ] } ' } } / v µ Ç W ( } >W ' Ç o ] v D v P u v

*ROGPDQ ,V * : } µ v Ç } ( Z ^ } µ o X...i } ] v ( } Á ] Z ^ v X t Z Ç } , o o } Á o o Z ] o u ] ( } µ v } ( o o µ M v Ç U Á l v } Á Z Z o o Ç v µ o Ç } o } À µ X

Chaminade CARTAS 3 - Ágora Marianista...} Ç u µ Ç } v v } U u ] µ ] } Z ] i } U µ ^ ] v rZ u Ç À Ì u } µ ] À } V À u ] v } v P µ } o ( µ v ] } v u ] v } µ v µ v o o

BKM INDUSTRIES LIMITED€¦ · 13. dZ }u vÇ] }v v }µ Z vÀ] }vu v v µ o]Ì v µ o }µ ]v µ ]v o ÁÇXt µ Ç}µ } µ Ç}µ u]o Á] ZÇ}µ } ] } ÇW ] v } v o µ } v Ç}µ Z vvµoZ

Brochure€¦ · /(Ç}µ vv} Z µ i Ç}µÁ] Z } µ Ç]v Z] o] U o } }v µ XdZ ] v Æ oo v Zv Z Á Á]oo o } vP }µ (} Ç}µ]v Ç}µ Z} v. o } ( µ ÇX u] W }P uu t Z}À Á v Ç ]+

o v d µ ] v P / v ] µ t ^ } ] Z v ] v o Ç ] v P , µ u v ... · o v d µ ] v P / v ] µ t ^ } ] Z v ] v o Ç ] v P , µ u v ] ] µ ] v P Ç ï X d Z U Z } Z h v ] À ] Ç } ( ]

µ Z d µ v v µ Ç - WHO...WKd^ A } µ o } Z } ] Z Ç ] Ç v } u V ZW^ A } u o Æ P ] } v o ] v Ç v } u ' s^ Æ } µ K µ } u > ] v l