Taipei: He’s been fêted as one of Asia’s top shipping analysts and the news in from Taiwan is that the downturn is not over by any means. Teddy Tsai, founder and ceo of Markis Capital, Taiwan's first IR and research consulting firm, warns readers of Maritime CEO: “The worst is not yet over for the major sectors, such as container shipping or dry bulk, and it will take a few more years before freight rates can see a sustained recovery.”
Tsai’s background has been as a research analyst and manager, primarily covering Asian shipping and offshore companies, working for leading financial firms such as DnB NOR, CLSA Capital, Merrill Lynch, and Morgan Stanley.
Tsai does see some opportunities at the moment. “The great thing about shipping,” he says, “is that although many sectors are influenced by global macro factors, and in some cases react to each other, there are always opportunities and upside in niche areas.”
There will always be niche sectors, or companies that take a longer-term perspective who have the ability to ride through the cycle, he says.
“Although we are not yet at a sustained recovery,” Tsai reckons, “cash-rich companies are in a position to benefit.” [14/05/13]
