A 2007 9 1
2
3
4
412 3,202 * : 75 : 166 : 1,812 : 8 : 20 : 281 : 96 : 35 : 1,113 : 23 : : 115 (1) 2007 6 30 (2) * 5
100% 51% H A 100% 100% 29% 20% 100% 100% 100% 40.7% 3.29% 8.14% 41.52% 6.35% Golden View100% Newbridge Assets Ltd40.7% 6
100% H A 25.26% 53.04% 21.70% 100% 100% 100% 40.7% 3.29% 47.87% 8.14% (1) 12.97 8.64 (2)Golden View Investment 7
:381.77 (2006 12 31 139.96 20.18 211.69 47.87%9.94 346.10 2007 20066.08 2007 10 23 8
: 346.10 1,296,937,124 864,270,817 A 1,296,937,124 100% 41.52% 6.35% 100% / 9
A 1,296,937,124 10 A 18.49 A18.49 36 : 12 2007 10 23 10
11
I. I. BDI II. III. VI. V. IV. 12
3,000 =6.2% 15,000 =7.0% 2,000 10,000 1,000 5,000 400 300 200 100 0 0 2003 2004 2005 2006 2007E =6.6% 2003 2004 2005 2006 2007E Fearnleys, Clarksons 0 2003 2004 2005 2006 2007E 500 400 300 200 100 0 2006 2007E 13
BDI BDI 8,000 7,000 6,000 5,000 4,000 : 3,572 3,000 2,000 1,000 : 1,356 0 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Bloomberg 2007 8 31 14
( ) 12% 400 45.3% 41.7% 300 35.4% 8% 28.7% 200 23.2% 4% 100 0% 2001 2002 2003 2004 2005 2006 0 2002 2003 2004 2005 2006 Clarksons 15
() 10 1,299 1,211 1,175 202 141 147 987 96 607 49 434 119 432 401 396 364 51 49 92 95 Nippon Yusen Kaisha Mitsui O.S.K. Lines Kawasaki Kisen Zodiac Maritime Agy. China Shipping Group Cardiff Marine Inc. Enterprises Shipping. Shoei Kisen K.K. Hanjin Shpg Co. 495 38% 349 27% 455 35% () 2,100 1,400 700 1,299 Clarksons, 2007 6 30 0 1,450 1,710 1,895 2007 2008 2009 2010 16
( ) =15.9% 218 227 6.6% 8.2% 8.1% 169 2004 2005 2006 2004 2005 2006 Clarksons 17
() () 4,505 3,371 3,193 5,235 22.1% 25.5% 22.8% 30.7% 29,647 31,142 27,544 6,560 7,940 6,281 6,210 20,258 2004 2005 2006 2007 2004 2005 2006 2007 BDI 18
40 COA 19
2005 COA 20
21
22
A H 21.70% 25.26% 53.04% 100% 51% 51% 100% 49% 12.97 8.64 23
进一步巩固市场领先地位 船队规模 艘 556 1st 干散货航运: 世界第一 144 6th 集装箱航运:世界第六 收购前 1st 物流:中国第一 5th 集装箱码头:世界第五 3rd 集装箱租赁:世界第三 1st 集装箱制造:世界第一 收购后 万载重吨 3,770 568 收购前 收购后 24
() 36,199 76.1% 63,737 28.1% 81,638 () 520.5% 58.2% 7,589 12,002 1,223 2006 2006 2007E 2006 2006 2006 2007E 2006 0.6% 4.9% 42.0% 54.8% 94.5% (1) 2.8% 0.4% (2) 2006 2007 (3) 25
26
2006 2006 () 41.0% () 9.7% 33.9 7.4 7.1% 2.3% 27
28
204 277 14.0 4.03 1,842 23.0 140 25.8% 8.5 0.12 29
A 2007 6 26 17.848.48 151IPO A 9 3 10 23 320 30
1,600 1,400 1,200 5% 15% 06 25% 4% 19% 07 26% 1,000 800 600 613 16.3 713 551 19.4 658 760 2.4 742 32% 23% 27% 42.6 536 24% 400 5.9 376 200 126 119 0 (%) * 2007 96.0 105.6 92.4 79.6 90.3 2006 93.9 100.2 86.3 90.3 86.7 * 31
2007 2006 17,734 30.2% 13,617 197,991-15.3% 233,879 1,339,832 355.8% 293,937 428 32.9% 322 63,497 1.6% 62,508 70,762 10.0% 64,331 1,039,453 14.8% 905,101 52,044 15.3% 45,140 32
07 06 29 5,588,253 22.9% 4,547,135 50% 2 906,589 10.1% 823,493 4.5%-5% 15 4,164,935 12.0% 3,723,642 71.43% 5/1 385,051 39% 6 131,678 36 3,881,561 2.4% 3,790,026 10% 10 1,618,337-16.7% 1,941,717 30% 3 1,357,173 9.2% 1,242,515 51% 3 300,389 37.9% 217,843 55.59% 2/3 138,871 29.1% 107,562 20% 5 426,895 52.3% 280,389 20% 5 39,896 10% 4 25% 1 42 8,181,025 33.9% 6,110,855 20% 15 4,026,677 27.6% 3,155,907 50% 1 492,582 23.0% 400,382 8.13% 9 1,749,367 35.1% 1,294,558 20% 6 414,210 207.2% 134,844 50% 2 545,516 40.7% 387,793 14% 4 952,673 29.2% 737,371 30% 2 30% 3 12 766,590 45.5% 526,732 49% 2 400,117 40.5% 284,750 20% 6 366,473 51.4% 241,982 20% 4 119 18,417,429 23.0% 14,974,748 33
3rd 13.0% ( ) 1 2 Textainer Triton Container 1,560,000 1,435,000 14.5% 13.3% 25.8% 1,397,952 3 1,397,952 13.0% 1,111,336 4 5 6 GE SeaCo TAL International Interpool Group 980,000 960,000 760,000 9.1% 8.9% 7.1% 476,680 (42.9%) 741,116 (53.0%) 7 CAI 700,000 6.5% 8 9 Capital Lease Cronos Group 525,000 405,000 4.9% 3.8% 634,656 656,836 (57.1%) (47.0%) 10 Gold Container 400,000 3.7% 2006 2007 World Cargo News 2007 34
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