Capacity injection for east-west trades as more ULCVs are delivered
East-west tradelanes saw some capacity injected over the past two weeks as several large containerships ...
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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, ...
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