Investment Summary: Position for the Upside 3
Asia’s Export Cargo: Path to Recovery 6
3 ways to play the recovery story 13
Companies 19
China Merchants Holdings (0144.HK) 20
Tianjin Port Development Holdings (3382.HK) 26
Cosco Pacific (1199.HK) 29
Dalian Port PDA (2880.HK) 34
NOL (NEPS.SI) 37
China COSCO Holdings (1919.HK) 42
China Shipping Container Lines (2866.HK) 48
China Airlines (2610.TW) 52
Eva Airways (2618.TW) 56
Appendix A-1 62