Category Archives: Container
Danaos Corp. reports 1st quarter results
Danaos Corporation.
Danaos Corp DAC has released their 1st quarter numbers and the press release is linked above. Reading the DAC report is like deja vu all over again. It looks a lot like fellow container shipper Seaspan Corp [[SSW]. Both appear to have good long term contracts for most if not all of their vessels [...]
Horizon Lines releases first quarter results
Horizon Lines, Inc. – Press Release.
The link above the the press release for Horizon Lines HRZ first quarter earnings results from late last week. Also note the company declared a regular 11ยข quarterly dividend the previous day. Horizon is a container shipping company that operates primarily between the mainland U.S. and Alaska, Hawaii and Puerto [...]
Seaspan slashes dividend
Seaspan Corporation – Seaspan Reports Financial Results for the Quarter Ended March 31, 2009.
Seaspan Corp. SSW has released their first quarter results and the news is a mixture of good and bad. On the good news side, revenues, distributable cash flow and net income are all improved from a year earlier. Also, the company has [...]
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Seaspan Corporation continues with growth program
Seaspan Corporation – Seaspan Takes Delivery of First New Containership in 2009 on Twelve-Year Time Charter to China Shipping.
In an economic environment where shipping container rates are in the absolute pits it is interesting to see Seaspan Corp SSW continue with their growth program. According to the press release linked above the company now has [...]
Shipping Stocks Performance Year-to-Date
It is (almost) the end of the first quarter of 2009 so I thought I would put up a little data on how the shipping stocks I track have fared. I keep a Google portfolio that has been tracking the values of 42 shipping stocks on an equal dollar weighted average since January 1, 2009. [...]
JPMorgan Aviation & Transportation Conference highlights
Several shipping stocks are presenting at the JPMorgan Aviation & Transportation Conference today and I am listening to the presentations as they come up (delayed). I will put up a few notes on the companies I listen to:
Horizon Lines HRZ is the largest of the Jones Act shippers moving containerized cargo from the States to [...]
Danaos 4th quarter and year end results
56184.pdf (application/pdf Object).
Linked above is the 4th quarter and year end earnings results for Danaos Corporation DAC. Danaos is an owner of approximately 40 container ships.
For 2008 the company had pretty nice results. But 2009 looks like it could be pretty rough. The press release outlines the economic factors affecting Danaos. The fact that gets [...]
Ship Finance cuts dividend, cash flow still strong?
My first thought when I read that Ship Finance International SFL had cut their dividend in half was extreme anger at management. The thinking in this case seems to be: The stock market does not seem to be valuing our stock as they should in light of our excellent dividend, so we will cut the [...]
Seaspan Corporation: Notes on year end results
Seaspan Corporation – Seaspan Reports Financial Results for the Quarter and Year Ended December 31, 2008.
I have not taken a lot of time to look at Seaspan Corps SSW year end results. Like many other companies in the shipping industry they took large write offs on losses from interest rate swaps, making a deeper look [...]
Interesting results for shipping subsectors