Seaspan: Strong Cash Flows, High Growth, Rapidly Rising Dividends
Background
I have previously written about Seaspan (SSW) and its business model and risk (here) so I will not go over that as it hasn't changed.
Recent Developments
SSW has been in the news lately for three reasons. Its decision to enter into a partnership with Carlyle and some of its normal partners being Dennis Washington and Graham Porter. The idea is to place large orders with Asian ship building yards, thereby obtaining favorable terms and ship designs. There is a rather complicated mechanism behind who gets to take over the ships with charters and financing from the new entity, but SSW has a right of first refusal to a large part of them. It at this time is unclear to me what the other partners would do with a container ship but the opportunities are of course many. Following this, two potential orders have been announced/rumored: A. 20-22 10.000... Read more
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Older articles featuring SSW:
An 8% Baby Bond Yield From Global Ship Lease With Smooth Sailing AheadGlobal Ship Lease: Major Turnaround, Dividends Ahead
Low Yield Vs. High Yield Preferred Stocks. Is The Spread Wider Than You Thought?
Shipping Industry Preferred Stocks - High Yields, But Watch For Riptides
Another Pair Of Preferred Stocks About To Rip Higher, Yield 9.8% From Costamare
Seaspan Corporation: A Low-Risk 5.48% Yield-To-Maturity For One Year
4 Well-Covered Preferreds Yielding Over 8%: No K-1, All Going Ex-Dividend Soon
7 High Yield Trades On 2 High Dividend Stocks
Baby Bonds: 8.18% Yield-To-Maturity From A Potentially Undervalued Shipper
High-Dividend Stock Yields 8%, On Qualified Dividends, Goes Ex-Dividend Soon