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US Strategy: Tariffs as Repricing Event?

Strategy Analysis: 01 Mar 2018, 9:40 PM ET - The market has been building in very low odds of a trade war event, a NAFTA withdrawal, or a significant escalation of tit-for-tat trade retaliations on a broader scale.  The odds-makers just got a fresh load of input.

Transportation 2018 Outlook: Market perform

Sector Outlook: 07 Feb 2018, 5:02 AM ET - Steady global growth, rebounding US industrial production and resilient consumer confidence provide support for a positive year ahead, but NAFTA remains a wildcard that could derail the sector’s high confidence.

Upcoming NY IG & HY Conferences

Announcement: 29 Nov 2016, 8:54 PM ET - Join us in New York on Tuesday, December 13, 2016 for our upcoming conferences.

Sector Update: June 2016 - US Industrials

Sector Weightings: 13 Jul 2016, 4:06 AM ET - Our Sector Update provides  June monthly performance data and updated recommendations for the Industrial sectors. 

Maritime Shipping: Three STRONG BUYS

Sector Analysis: 04 May 2016, 10:49 PM ET - Maritime shipping sector lagged the high yield rebound.  Teekay, Teekay Offshore, and Eletson are strong buys.

Maritime Transportation: 2016 Oil Tanker Outlook

Sector Outlook: 04 Feb 2016, 5:23 AM ET - Tankers look forward to strong spot rates in 2016, but potential events in the Middle East Gulf could rapidly reverse this outlook.  

Freight/Rail/Logistics: 2016 Outlook

Sector Outlook: 05 Jan 2016, 11:26 PM ET - The freight/rail/logistics group is likely to Underperform.  Expect FRL leverage to increase.  Rail pricing power remains intact, but volume is more likely to surprise to the downside than upside.

July 2015 Sector Update: Industrials

Sector Weightings: 06 Aug 2015, 1:34 PM ET - Our July sector overview provides the latest monthly performance data for the Industrials sectors.  Additionally, this month features a discussion of the sector level impacts of rising interest rates.

Using the New E-Mail Alerts System

Announcement: 18 Feb 2015, 11:28 PM ET - CreditSights launched its new beta e-mail Alerts system on  Mon, February 23rd. A new interface allows users to manage their e-mail  Alerts. This is a user guide for managing your e-mail Alerts in the new system.

Announcing CreditSights' New E-Mail Alerts System

Announcement: 12 Feb 2015, 11:27 PM ET - CreditSights announced the launch of its new beta e-mail Alerts system on Monday, February 23rd. Your previous e-mail Alert preferences will be carried over into the new beta e-mail Alerts system.

Freight/Rail/Logistics: 2015 Outlook

Sector Outlook: 13 Jan 2015, 12:15 AM ET - The FRL group performs well in a risk off environment. The rails have strong balance sheets with pension and lease-adjusted net debt to EBITDA of 1.7x.  They are solid cash generators, with predictable earnings and below-average event risk.

Freight Transportation: 2014 Outlook

Sector Outlook: 14 Jan 2014, 10:54 PM ET - 2014 rail financial performance should strengthen.  Event risk is generally low, but watch competitive access rules, longshoremen contract talks, and tank car regulation. 

HY Note: How Dark is Darkest for Maritime Shipping

HY Note: 26 Jun 2012, 10:25 AM ET - Resist impulses to jump into vessel ownership.

UPS: Pulls the Trigger on TNT Bid

Company Analysis: 19 Feb 2012, 9:25 PM ET - UPS pulled the trigger and made a €9 per share bid for TNT Express. We believe UPS can easily absorb the acquisition, which would also provide a means for Post NL to finally divest its stake in TNTE.

OMI: Hits the Bid

Worth Watching: 18 Apr 2007, 12:54 AM ET - OMI sold out to Teekay (BB3 BondScore) and TORM for 29.25 per share, a surprise to the market and above CreditSight's 27 valuation (see OMI: Full Sale  4/4/07).  The betting here was that OMM would sell out to a financial advisor to keep managemen ..
Focused

OMI: Full Sale

Company Analysis: 04 Apr 2007, 12:18 AM ET - Expect an M&A announcement very soon. With the share price on top of NAV, there is no upside.

Shipping: Product Tankers in Demand

Worth Watching: 05 Sep 2005, 11:09 PM ET - Shipping  trade rags report a significant buildup in charter activity in Europe for gasoline and other refined petroleum cargoes to the US East Coast.  The bulk of this will probably not hit our shores until the end of September, but global oil tr ..

BondScore: August 2005 Top Movers

Risk Product Report: 14 Aug 2005, 8:45 PM ET - Murphy Oil Corp. (Baa1/A-) is the sixth best positive NRV among the investment grade names this month.  Market spreads have not kept pace with the tightening in BondScore I-Spreads.
Focused

OMI Corp.: Filling the Tanks with Cash

Worth Watching: 19 Oct 2004, 1:19 AM ET - OMI Corp. (OMM: B1/B+) was the first tanker operator to report, and set the tone for a great 3Q for the rest of the pack.  Revenues jumped 76% Y-o-Y and 31% sequentially, and all of that increase is pure cash money.  The big question for the tanke ..

Oil Tankers: White Hot Winter

Worth Watching: 21 Sep 2004, 11:04 PM ET - Oil Tankers have long been expected to enjoy a hot dayrate market this winter, but Frontline (FRO) thinks it will be white hot.  The key driver is the possibility of an incremental million barrels a day out of the Saudis coming online to thwart hi ..

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