Logistics Sector Check - Ocean Freight Rates Heading To Record Highs: Prabhudas Lilladher

"NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Prabhudas Lilladher Report.Volatility in container freight rates continues to rise: Global events like the Red Sea crisis, port congestion (especially in the Middle East and Asia), container repositioning imbalance (higher number of empty containers in Colombo and the Gulf region, instead of China) and strong container demand have led to a spike in the ocean freight charges. The Drewry index is up ~two times YoY in year-to-date CY24. Further, as per some estimates (Freightos, Xeneta, Container xChange), June 2024 spot rates have already crossed 3-4 times levels ($6000-10000/40ft). As a result, shipping companies such as Maersk have raised their annual Ebitda guidance for CY24 by 50-75%..Indian private ports ended FY24 on a high note: Adani Ports and Special Economic Zone Ltd. cargo reached 408 million metric tonne in FY24, up 20% YoY, and JSW Infra reached 107 mmt, up 15% YoY. Together, Adani Ports and JSW Infra command ~34% of all-India cargo. Over the past three years, they have significantly outpaced major ports in growth, with Adani Ports growing 18% and JSW Infra, 32%, compared to the 5% growth seen in major ports. This highlights their increasing importance in the maritime logistics sector..Adani Ports has begun FY25 with a 5% volume growth. Adani Ports continues to outpace major ports by 2.5% (Adani Ports grew 5% YoY in YTDFY25), despite the Gangavaram Port shutdown (adjusted growth: 13% YoY)..Click on the attachment to read the full report:.APL Apollo Tubes - An Ideal Proxy To Strong Construction Demand; Yes Securities Initiates Coverage With A Buy.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Logistics Sector Check - Ocean Freight Rates Heading To Record Highs: Prabhudas Lilladher

Adani Ports continues to outpace major ports by 2.5%, despite the Gangavaram Port shutdown

NDTV Profit

NDTV Profit

Follow Us

DOWNLOAD THE APP

Logistics Sector Check - Ocean Freight Rates Heading To Record Highs: Prabhudas Lilladher

Adani Ports continues to outpace major ports by 2.5%, despite the Gangavaram Port shutdown

Choose a plan

Follow Us

DOWNLOAD THE APP