Seeking Alpha

Seaspan Corporation (SSW)

  • Sep. 16, 2014, 3:57 PM
    • Ocean shipping of dry bulk commodities and oil will nearly double earnings capacity during the next several years while the smaller container ship industry will tread water, Deutsche Bank says.
    • The firm believes the industry is "on the cusp of entering a new era of prosperity," driven by improved supply/demand dynamics, increased fleet utilization and abundant capital to fund profitable growth.
    • On average, DB forecasts a near doubling of earnings power across its coverage universe by 2016 vs. 2013, led by shippers in the Dry Bulk and Oil trades.
    • Initiated with Buy ratings: TNK +9.8%, CPLP +2.5%, DSX +2.8%, DRYS +5.5%, DLNG +2.4%, NNA +2.1%, SALT +0.8%, SSW +1.3%, GASS +3.3%.
    • Started at Hold: TK +1.2%, NMM +0.3%, FRO +3.3%, TGH -0.6%.
  • Nov. 20, 2013, 8:50 AM
    • Seaspan (SSW) -7.8% premarket after pricing its planned public offering of 3.5M common shares at $22/share.
    • SSW intends to use the net proceeds from the offering for general corporate purposes, which may include funding vessel acquisitions.
  • Nov. 19, 2013, 5:45 PM
    • Top Gainers, as of 5:15 p.m.: STV +9.2%. LZB +6.3%. RGP +6.1%. WILN +4.6%. TASR +3.9%.
    • Top Losers, as of 5.15 pm: SSW -5.5%. FU -3.8%. GOOD -2.6%. CACQ -2.3%. MDVN -1.5%.
    | Comment!
  • Oct. 11, 2013, 9:12 AM
    • Seaspan (SSW) +14.9% premarket after disclosing it will no longer proceed with its previously announced public offerings of common shares and convertible notes.
    • Shares had dropped 17% since the announcement after the close Monday.
  • Oct. 11, 2013, 9:11 AM
  • Oct. 8, 2013, 9:37 AM
    • Seaspan (SSW -6%) slumps after the company announces a public offering of common stock and notes.
    • In early trading, shares of Seaspan are at a multi-week low.
    | Comment!
  • Oct. 7, 2013, 4:27 PM
    • Seaspan (SSW) -6.3% AH after announcing concurrent public offerings of 5.7M common shares and $125M of convertible notes due 2018; in addition to the 5.7M-share offering, a selling shareholder will offer 300K shares.
    • SSW plans to use net proceeds from the primary offering and convertible note offering for general corporate purposes, which may include funding vessel acquisitions.
    | Comment!
  • Mar. 6, 2013, 11:36 AM
    Seaspan (SSW +4.1%) is upgraded to Neutral from Underperform with a $21 target price (from $16) at BofA, believing SSW is finally past the trough of the container shipping market overhang. The firm notes SSW's planned 25% dividend raise, improving cash flow as vessels remain under charter, and recently signed charters and contracts for sizeable vessels.
    | Comment!
  • Dec. 13, 2011, 12:48 PM
    In addition to the earlier announcement of its tender-offer, Seaspan (SSW +19.9%) also says it's acquiring Seaspan Management Services Limited for $54M in an all stock transaction.
    | Comment!
  • Dec. 13, 2011, 10:25 AM
    Seaspan (SSW +18.5%) catches a bid after offering to tender 10M shares of common stock at a price of $15/share. Directors and execs say they will sit out the tender offer and hold on to their own shares.
    | 1 Comment
  • Oct. 17, 2011, 4:07 PM
    Container-ship owner Seaspan (SSW +2%) finishes the day in positive territory after an article in Barron's over the weekend points out the company has a growing fleet and long-term lease contracts from shipping lines - including deals for ships that have yet to be delivered. Fears of a global slowdown have weighed on its share price, but its 5.8% current yield could keep spark investors attention.
    | 1 Comment
  • Aug. 29, 2011, 10:18 AM
    FBR Capital slashes its PT on shares of Frontline (FRO -5%) to $8, as the firm's fleet of 70 tankers makes it tricky to steer through an industry slump. Potentially better-positioned rivals are posting healthy gains including DryShips (DRYS +6.2%), Overseas Shipholding (OSG +6.2%) and Seaspan (SSW +3.3%).
    | Comment!
Visit Seeking Alpha's
SSW vs. ETF Alternatives
Company Description
Seaspan Corp is anindependent charter owner and manager of containerships. Itoperates a fleet of approximately 77 containerships.
Sector: Services
Industry: Shipping
Country: United States