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$24.88 -0.18 (-0.72%)
8/29/2008 4:01 PM

Seaspan Corp (SSW)

CAPS Rating:
****

The Company's business is to own containerships, charter them pursuant to long-term, fixed rate charters and seek additional accretive vessel acquisitions.

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Avatar ari21 (85.00) Submitted: 6/17/07 11:17 AM : Outperform Start Price: $29.97 SSW Score: -0.95

The demand of shipping container is increasing, Supply is low, rates are increasing.SSW own 47 ships, all on long term contracts.In 2009 and 2010 will own 8 new ships , all are already chartered on long term lease.Earnings are growing at 30% each year,pays a nice dividend and invests 20% earnings each year to finance grow. SSW plans to own 125 ships.Their costs are low, they use container ships interchangeable to lower maintainen costs.Demand for their services is increasing, rates increasing and costs lower,This is a long term winner

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