Comment / Supply chain radar: Hapag-Lloyd's financials – till death do us part

© Khunaspix Dreamstime.

Hapag-Lloyd’s (HL) bloody Monday in mid-January is now a distant memory, confirming my fair value estimates – €25.4 a share vs €25.9 currently – were well founded, while reinforcing the view that event-driven investors are playing off HL’s strengths against AP Møller Mærsk’s (APPM) weaknesses and vice versa.

However, the latest news from China, still mixed, is a bit of a headache given the sensitivity of HL’s valuation to downbeat news from the Far East. Some signs are also concerning for APMM, ...