This is a well-run company looking to benefits from increasing trades in the coming years. This company build ships and then lesase them to shipping companies with long-term contracts. The company is planning to expand its fleet to 100 ships by 2010. Given the fixed rate, long term nature of its charters, Seaspan enjoys a highly predictable, steady stream of cash flow. Seaspan’s total contracted fleet, which consists of ships currently in use and those that are nder construction, now stands at 63. This is up from just 41 at the time of its August 2005 IPO. This stock has a dividend yield of 5.5% and is very likely to increase its dividend next year.
$32.17 (10/03/07)
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Disagree
