Transcription of DHL Global Forwarding, Freight OCEAN FREIGHT …
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1 ocean freight market update DHL Global Forwarding, FREIGHT August 2017 2 2 Contents TOPIC OF THE MONTH China Cosco Shipping s offer to acquire OOCL HIGH LEVEL DEVELOPMENT market OUTLOOK FREIGHT Rates and Volume Development ECONOMIC OUTLOOK & DEMAND DEVELOPMENT CAPACITY DEVELOPMENT CARRIERS Mergers, Acquisitions and Alliances / Z-Score update REGULATIONS ? DID YOU KNOW ? Congestion in European ports DHL Global Forwarding | OFR market update | Aug 2017 3 3 Topic of the Month China Cosco Shipping s offer to acquire OOCL A P R O M I S I N G O F F E R THE OFFER It values OOIL s1) share at HKD (USD ). It is 31% higher than its closing value on the day the offer was issued. COMPARING THE OFFER The offer values OOCL at USD , OOIL s P/B ratio (=the net worth of all of OOCL s assets minus their debt). In comparison, CMA-CGM acquired NOL for its P/B ratio. Although this final figure may be considered as high, OOIL has historically been more profitable than NOL and FREIGHT earnings are higher today than they were at the time of NOL s acquisition.
1 OCEAN FREIGHT MARKET UPDATE DHL Global Forwarding, Freight August 2017
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