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Drewry对阳明海运高额债务表示担忧

作者: 发布时间:2017-01-23 浏览量:268
Drewry对阳明海运高额债务表示担忧

来源:American Shipper  2017-01-20

翻译:国际海事信息网 姜文杰 张运鸿
 
       Drewry投资研究部在周四发表的一则关于集装箱船公司阳明海运(YMM)的报告中对该台湾公司的高额债务表示担忧。
    
      “我们对于YMM的高额债务感到担忧,基于其不断增大的金融风险。即使在基础货运市场复苏的大环境下,未重组的债务负担对于我们来说,是一个红色预警,是一个寻求出售的信号。”在Drewry金融研究服务部门主管Rahul Kapoor和公司集装箱运输首席分析师Nilesh Tiwary的报告中如是说。                  
 
       今天阳明海运在其一份客户咨询中回应了该报告称,“其不能免受整个航运业在过去一年中所面临的持续挑战”,并已经“在内部积极重组,有效降低运营成本。” 
 
        阳明海运表示,它与众多竞争对手不同。首先,阳明的大部分所有权权益是由中华人民共和国交通运输部(台湾)持有的。事实上,阳明是全球为数不多的几个与国家政府有着密切关系的公共承运人。其次,同样重要的是,杨明可以获得将近20亿美元的政府支持资金。
      
        YMM解释道,“阳明是少数几家能够获得这一巨大支持的运营商”,这是台湾当局于11月宣布的。 
      
      “最后,阳明海运没有要求债权人重组其任何部分的债务,也没有任何意图这样做”,YMM如是说。
 
      (本文版权归国际海事信息网所有,转载请注明出处。)
 
Drewry expresses concern over Yang Ming's high debt
 
A report issued Thursday by the investment research arm of Drewry on container shipping company Yang Ming Marine Transport Corp. (YMM) expressed concern about the Taiwan-based company’s high level of debt.
 
“YMM’s high debt is a great cause for concern for us given the heightened financial risks. Even with recovery in the underlying freight market, the debt burden without a restructuring is a red flag and a clear sell signal for us.” according to the report from Rahul Kapoor, director of Drewry Financial Research Services, and Nilesh Tiwary, lead analyst, container shipping at the company.
 
Yang Ming responded to the report today in a customer advisory that said while it "has not been immune to the ongoing challenges the entire shipping industry has experienced this past year" it has "proactively reorganized internally to effectively reduce its operating costs."
 
Yang Ming said it stands apart from many of its competitors. First, Yang Ming’s majority ownership interest, unlike that of its competitors, is held by the Ministry of Transport and Communication (MOTC) of the Republic of China (Taiwan). In fact, Yang Ming is one of a few global common carriers that can claim a close relationship with a national government. Second and equally important, Yang Ming has full access to staunch government-backed funding for approximately U.S. $ 2 billon."
 
It explained that "Yang Ming is one of the few carriers that has access to this vast support" that was announced by the Taiwan government in November.
 
"Finally, Yang Ming has not approached its creditors with any demands to restructure any part of its debt and does not have any intention to do so going forward." the carrier said.
 
来源:simic

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