SSW Seaspan Corp. featured news, full reports, and detailed charts
Seaspan Corp. (SSW) Wrap Up:
Seaspan Corporation owns and operates the containerships that are engaged in the deep-sea container transportation business in Hong Kong. The company charters its containerships pursuant to long-term, fixed-rate time charters to various container liner companies. As of December 31, 2008, it owned and operated a fleet of 35 containerships. Seaspan Corporation was incorporated in 2005 and is headquartered in Majuro, Marshall Islands.www.seaspancorp.com
Founded in 2005
Seaspan Corp. (SSW:NYSE)
LAST $9.30 USD
CHANGE TODAY -0.08 -0.85%
VOLUME 254.5K
As of 4:03 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of Seaspan Corp. (SSW)
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OPEN
$9.48
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PREVIOUS CLOSE
$9.38
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DAY HIGH
$9.48
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DAY LOW
$9.15
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52 WEEK HIGH
01/28/09 - $13.07
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52 WEEK LOW
11/21/08 - $4.37
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MARKET CAP
621.2M
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AVERAGE VOLUME 3 mo
305.8K
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DILUTED EPS TTM
$-3.02
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SHARES OUTSTANDING
66.8M
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EX-DATE
11/5/09
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P/E TTM
NM
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DIVIDEND
$0.40
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DIVIDEND YIELD
4.30%
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SSW Top Compensated Officers
No compensation data is available at this time for the top officers at this company.
Executives, Board Directors
Key developments for Seaspan Corp. (SSW)
Seaspan Corp. Provides CapEx Guidance for the Fourth Quarter of 2009
11/4/2009
Seaspan Corp. provides CapEx guidance for the fourth quarter of 2009. For the quarter, the company expects about $100 million of CapEx.
Seaspan Corp. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2009 ; Declares Quarterly Dividend, Payable on November 19, 2009
11/3/2009
Seaspan Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net loss of $65.9 million or $1.03 per diluted share compared to $5.1 million or $0.08 per diluted share for the same period a year ago. Revenue was $74.1 million compared with $57.6 million for the same period a year ago. Operating earnings was $33.4 million compared with $26.8 million for the same period a year ago. Cash provided by operating activities was $24.8 million compared with $28.8 million for the same period a year ago. The company reported expenditures for vessels of $117.2 million compared with $232.2 million for the same period a year ago. Normalized net earnings was $20.2 million or $0.24 per diluted share compared to $18.9 million or $0.29 per diluted share for the same period a year ago. For the nine months, the company reported net earnings of $70.6 million or $0.90 per diluted share compared to $42.6 million or $0.68 per diluted share for the same period a year ago. Revenue was $207.0 million compared with $166.8 million for the same period a year ago. The increase was primarily due to the delivery of nine additional vessels between October 2008 and September 2009. Operating earnings was $92.3 million compared with $78.9 million for the same period a year ago. Cash provided by operating activities was $64.8 million compared with $89.9 million for the same period a year ago. The company reported expenditures for vessels of $334.9 million compared with $521.1 million for the same period a year ago. Normalized net earnings was $57.5 million or $0.73 per diluted share compared to $55.8 million or $0.89 per diluted share for the same period a year ago. For the quarter ended September 30, 2009, the company declared a quarterly dividend of $0.10, representing a total distribution of $6.8 million. The dividend will be paid on November 19, 2009 to all shareholders of record as of November 9, 2009.
Seaspan Corp., Q3 2009 Earnings Call, Nov-04-2009
10/28/2009
Seaspan Corp., Q3 2009 Earnings Call, Nov-04 2009
SSW Competitors
| Company | Last | Change |
| Danaos Corp | $4.42 USD | +0.03 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | SSW | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 2.3x |
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| Price/Book | 0.7x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | NM | Not Meaningful |
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SSW transactions
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More Recent News About Seaspan Corp.
More news for SSW
Seaspan Takes Delivery of Fortieth Containership
HONG KONG, CHINA--(Marketwire - 09/04/09) - Seaspan Corporation (NYSE:SSW - News) announced today that it accepted delivery of the MOL Eminence from Hyundai Heavy Industries Co., Ltd. on August 31, 2009. The 5100 TEU containership is Seaspan's fifth newbuilding in 2009 and expands the Company's fleet to 40 vessels. The MOL Eminence is chartered to Mitsui O.S.K. Lines, Ltd. under a twelve-year, fixed-rate time charter that requires MOL to pay all fuel, cargo-operating and related costs. Gerry Wang, Chief Executive Officer of Seaspan, said, "The MOL Eminence represents the fifth vessel we have taken delivery of in 2009 and fortieth overall. We continue to execute our business model and have further expanded our sizeable contracted revenue stream derived from major liner companies primarily based in Asia. Upon delivery of our full fleet of 68 vessels, Seaspan's contracted revenue stream is expected to grow by about 218% to approximately $7 billion and its annual revenue is anticipated to rise about 145% to approximately $700 million."About SeaspanSeaspan owns containerships and charters them pursuant to long-term fixed-rate charters. Seaspan's contracted fleet of 68 containerships consists of 40 containerships in operation and 28 containerships to be delivered over approximately the next three years. Seaspan's operating fleet of 40 vessels has an average age of approximately five years and an average remaining charter period of approximately seven years. All of the 28 vessels to be delivered to Seaspan are already committed to ...Click here to read the whole Article (external link)
Coverage initiated on Seaspan by Deutsche Securities
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Seaspan Takes Delivery of Forty-First Containership on Twelve-Year Time Charter to China Shipping
HONG KONG, CHINA--(Marketwire - 09/21/09) - Seaspan Corporation (NYSE:SSW - News) announced today that it accepted delivery of the CSCL Manzanillo from Jiangsu Yangzijiang Shipbuilding Co., Ltd., on September 18, 2009. The 2500 TEU containership is Seaspan's sixth newbuilding in 2009 and expands the Company's fleet to 41 vessels. The CSCL Manzanillo is chartered to China Shipping Container Lines (Asia) Co., Ltd., under a twelve-year, fixed-rate time charter that requires CSCL Asia to pay all fuel, cargo-operating and related costs. Upon delivery of Seaspan's full fleet of 68 vessels, the Company's contracted revenue stream is expected to grow to approximately $7 billion and its annual revenue is anticipated to rise to approximately $700 million. Gerry Wang, Chief Executive Officer of Seaspan, said, "With the delivery of the CSCL Manzanillo, we have successfully completed the construction and delivery of the series of eight 2500 TEU vessels. We are pleased to have partnered with both Jiangsu Yangzijiang Shipbuilding and CSCL to provide this leading Chinese liner with modern, state-of-the-art vessels that continue to meet high performance standards. We look forward to continuing to grow our fleet and contracted revenue stream as we take delivery of 27 remaining newbuildings."About SeaspanSeaspan owns containerships and charters them pursuant to long-term fixed-rate charters. Seaspan's contracted fleet of 68 containerships consists of 41 containerships in operation and 27 containerships to be delivered over approximately the ne...Click here to read the whole Article (external link)
Booming Trade Show Bodes Well for Shippers
The world's largest trade show, the Canton Fair in Guangzhou, China, was swarmed on its opening day, and no matter what people are buying, it'll have to get shipped somewhere. The New York Times, the combination helped bring traffic to the Canton Fair. While the trade show represents various segments of the retail industry, international buyers all share a common need - shipping.The Times that buying interest from the U.S. is fairly weak in comparison to recovering demand from Europe and emerging markets. Some also noted that demand from Australia is coming back.If Chinese exports pick up, some components of the Shipping Stocks Index could see some more upside.Container shipping companies, many of which are privately held or traded on overseas exchanges, stand to benefit from increased demand from distributors and wholesalers across the globe. Public players Seaspan (NYSE: SSW - News) and Danaos (NYSE: DAC - News) are both listed on the ...Click here to read the whole Article (external link)
Seaspan Closes Second Tranche of Series A Preferred Shares
HONG KONG, CHINA--(Marketwire - 10/01/09) - Seaspan Corporation (NYSE:SSW - News) (the "Company") announced today the closing of the second and final tranche of $100 million aggregate amount of 12% Cumulative Preferred Shares-Series A, par value $0.01 per share (the "Preferred Shares"), pursuant to a preferred stock purchase agreement dated January 22, 2009 (the "Purchase Agreement") among the Company, Dennis R. Washington, Kevin L. Washington, Kyle R. Washington, who is the Company's chairman, and Graham Porter, through Deep Water Holdings, LLC, CopperLion Capital (KLW) I Limited Partnership, CopperLion Capital (KRW) I Limited Partnership and Tiger Container Shipping Co. Ltd., respectively (collectively, the "Investors"). Under the terms of the Purchase Agreement, the Preferred Shares were to be issued in two equal tranches of $100 million. The first tranche closed on January 30, 2009. At today's closing, the Company issued and sold 100,000 Preferred Shares to the Investors. Gerry Wang, Chief Executive Officer of Seaspan, commented, "We appreciate the strong support our sponsors continue to demonstrate for the Company and its strategy. With the closing of the $200 million preferred issuance, we have further improved Seaspan's capital structure and strengthened its financial flexibility. Importantly, cash retained from operations combined with secured committed financing provide for nearly all of the capital needed to finance our contracted fleet growth."This news release does not constitute an offer to sell or a solicitation of an...Click here to read the whole Article (external link)
Q3 2009 SEASPAN CORPORATION Earnings Release - After Market Close
Earnings Announcements for Tuesday, November 3CompanySymbolTimeConferenceCall3D SystemsTDSCAfter Market CloseListenAbengoaABG.MC11:45 pm ETListenAcorda TherapeuticsACORBefore Market OpenListenAECON GROUP INCARE.TOAfter Market CloseAGA Medical Holdings, Inc.AGAMAfter Market CloseListenAllis-Chalmers Energy Inc.ALYBefore Market OpenAllos Therapeutics, Inc.ALTHAfter Market CloseListenAlpha Natural Resources, Inc.ANRBefore Market OpenAmerican Capital Ltd.ACASAfter Market CloseListenAmerican Tower Corp.AMT07:00 am ETListenAmeriSourceBergenABCBefore Market OpenListenAMICAS INCAMCSAfter Market CloseAMTRUST FINANCIAL SERVICES INCAFSIAfter Market CloseANIMAL HEALTH INTERNATIONAL INCAHIITime Not SuppliedAnoto Group ABAOTOF.PK02:30 am ETAnworth Mortgage Asset...Click here to read the whole Article (external link)
Seaspan Announces Conference Call and Webcast to Discuss Results for the Third Quarter Ended September 30, 2009
HONG KONG, CHINA--(Marketwire - 10/28/09) - Seaspan Corporation (NYSE:SSW - News) plans to release its financial results for the third quarter ended September 30, 2009, on Tuesday, November 3, 2009 after market closing. Seaspan plans to host a conference call for all shareholders and interested parties at 8:30 a.m. ET on Wednesday, November 4, 2009 to discuss the results.Conference Call and Webcast Information:Date of Conference Call: Wednesday, November 4, 2009Scheduled Time: 8:30 a.m. ET / 7:30 a.m. CT / 6:30 a.m. MT / 5:30 a.m. PTParticipant Toll Free Dial In #: 1-888-490-2761International Dial In #: 1-719-325-2220To access the live webcast of the conference call, go to www.seaspancorp.com and click on "Investor Relations" then "Events & Presentations" for the link. The webcast will be archived on the site for one year.A replay of the conference call will also be available from 11:30 a.m. ET on November 4, 2009 through to 11:59 p.m. ET on November 18, 2009. The replay telephone numbers are: 1-888-203-1112 or 1-719-457-0820 and the replay passcode is: 9490848.About SeaspanSeaspan owns containerships and charters them pursuant to long-term fixed-rate charters. Seaspan's contracted fleet of 68 containerships consists of 41 containerships in operation and 27 containerships to b...Click here to read the whole Article (external link)
Seaspan Corp. Q3 2009 Earnings Call Transcript
Seaspan Corp. (SSW) Q3 2009 Earnings Call November 4, 2009 08:30 AM ET Executives Sai Chu - Chief Financial Officer Gerry Wang - Chief Executive Officer Analysts Omar Nokta - Dahlman Rose Urs Dur - Lazard Capital Markets Gregory Lewis - Credit Suisse Noah Parquette - Cantor Fitzgerald Michael Urban - Deutsche Bank Matthew Troy - Citigroup Presentation Operator Welcome to the Seaspan Corporation conference call to discuss the financial results for the three and nine-month period ended September 30th, 2009. Hosting the call today is Gerry Wang, Chief Executive Officer of the Seaspan Corporation and Sai Chu, Chief Financial Officer of Seaspan Corporation. Mr. Wang and Mr. Chu will be making some introductory comments and then we will open up the call to questions and answers. I will now turn the call over to Sai Chu. Sai Chu Good morning everyone and thank you for joining us today. Before we begin, please allow me to remind you that this presentation contains certain forward-looking statements as such term is defined in Section 21-E of the Securities Exchange Act of 1934 as amended, concerning future events in our operations, performance and financial condition including, in particular, the likelihood of our success in developing and expanding our business. These forward-looking statements reflect the management's current views only as of the date of this presentation and are not intended to give any assurance as to future results. As a result, you are cautioned not to rely on any forward-looking statement. Although these statements are based upon assumptions we believe to be reasonable based upon available information, they are subject to risks and uncertainties detailed fr...Click here to read the whole Article (external link)
Seaspan Reports Financial Results for the Three and Nine Months Ended September 30, 2009
HONG KONG, CHINA--(Marketwire - 11/03/09) - Seaspan Corporation (NYSE:SSW - News) announced today the financial results for the three and nine months ended September 30, 2009. Third Quarter 2009 and Year-to-Date Highlights:- Reported revenue of $74.1 million and $207.0 million, respectively, for the three and nine months ended September 30, 2009 compared to $57.6 million and $166.8 million for the comparable prior year periods;- Paid a second quarter dividend of $0.10 per share, representing an approximate 20 percent payout ratio. The second quarter dividend was paid on August 20, 2009 to all shareholders of record as of August 11, 2009;- Reported normalized net earnings(1) of $20.2 million, an increase $1.2 million, or 6.5%, for the quarter from $19.0 million for the comparable quarter- Reported normalized net earnings of $57.5 million, an increase of $1.7 million, or 3.0%, for the nine month period from $55.8 million for the comparable period last year. Normalized net earnings include a $1.1 million charge that was accrued for in the second quarter as a result of exercising the delivery deferral options. This amount is due at the deferred delivery date of each vessel and represents the cost of entering into the delivery deferral options and, therefore, is required to be accrued for in the period under financial reporting standards. The Company does not believe it is representative of its operating performance and if excluded, normalized net earnings for nine months would have increased from the comparable pri...Click here to read the whole Article (external link)
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