Author Topic: SSW - Seaspan  (Read 129649 times)

MYDemaray

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Re: SSW - Seaspan
« Reply #350 on: December 07, 2012, 09:47:24 AM »
"A value investor is actually working the hardest when he/she appears to be doing nothing."


Great quote


rjstc

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Re: SSW - Seaspan
« Reply #351 on: December 07, 2012, 10:30:41 AM »
This I would normally put in the books section, but since it pertains to shipping I thought I'd add it here. Dynasty's of the Sea, a new book about some biggies in the shipping business.

MYDemaray

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Re: SSW - Seaspan
« Reply #352 on: December 07, 2012, 12:28:04 PM »
Excellent -- I also recommend "The Box" and "Maritime Economics" for anyone interested in this space

rjstc

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Re: SSW - Seaspan
« Reply #353 on: December 07, 2012, 01:25:35 PM »
Thanks for the book ideas

gaf63

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Re: SSW - Seaspan
« Reply #354 on: December 14, 2012, 01:45:55 PM »
Anyone interested in buying the D series pfd., they are trading over the counter  with symbol of SSWPF
Traded today from 24.9 to 25

zippy1

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Re: SSW - Seaspan
« Reply #355 on: January 02, 2013, 04:06:55 AM »
New 8A12B/A form. Are they thinking of taking it private?

http://ir.seaspancorp.com/secfiling.cfm?filingID=1193125-12-516334
Quote
The description and terms of the Rights are now set forth in the Amended and Restated Rights Agreement, as amended by Amendment No. 1 and Amendment No. 2. Amendment No. 2:

• eliminates certain existing exclusions from the calculation of the beneficial ownership percentages of Excluded Persons (as defined in the Amended and Restated Rights Agreement), which exclusions apply to (a) Series A preferred shares (“ Series A ”) and related securities issued or to be issued to Excluded Persons in connection with the Corporation’s 2009 financing and (b) Common Shares issued or to be issued to certain Excluded Persons in connection with the Corporation’s January 2012 acquisition of Seaspan Management Services Limited;
 
• adds a new exclusion from the calculation of the beneficial ownership percentages of Excluded Persons for any Common Shares acquired by the Excluded Persons following January 1, 2013 pursuant to their participation in the Corporation’s dividend reinvestment plan with respect to any cash dividends paid on the Common Shares or Series A through and for the quarter ending March 31, 2015; and

• increases the aggregate beneficial ownership percentage general trigger for Excluded Persons under the Amended and Restated Rights Agreement from 30% to 70%.

In connection with the Amendment No. 2, members of the Washington Family have agreed with the Corporation that they will participate in the Corporation’s dividend reinvestment plan with respect to any cash dividends paid on the Corporation’s Common Shares or Series A through and for the quarter ending March 31, 2015, which participation will reduce the amount of cash otherwise distributable to shareholders by the Corporation.

MYDemaray

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Re: SSW - Seaspan
« Reply #356 on: January 02, 2013, 10:09:02 AM »
No position here, but thought you guys might be interested in this: http://www.lloydslist.com/ll/sector/containers/article414317.ece

JEast

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Re: SSW - Seaspan
« Reply #357 on: January 04, 2013, 06:41:57 AM »
Update on the previous comments by management.  Looks like they have a new major liner to join the team with Yang Ming Marine of South Korea.  Five (5) new 14k TEU vessels on 10-year contracts with option for 5 more.

http://www.reuters.com/article/2013/01/04/yangming-seaspan-idUSL4N0A91LU20130104?type=companyNews&feedType=RSS&feedName=companyNews&rpc=43

The company has stated their plan, stuck to the plan, and has executed the plan wonderfully over the last five years.

Cheers
JEast

zippy1

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Re: SSW - Seaspan
« Reply #358 on: January 04, 2013, 06:53:47 AM »
Update on the previous comments by management.  Looks like they have a new major liner to join the team with Yang Ming Marine of South Korea.  Five (5) new 14k TEU vessels on 10-year contracts with option for 5 more.

http://www.reuters.com/article/2013/01/04/yangming-seaspan-idUSL4N0A91LU20130104?type=companyNews&feedType=RSS&feedName=companyNews&rpc=43

The company has stated their plan, stuck to the plan, and has executed the plan wonderfully over the last five years.

Cheers
JEast
Hi, actually, Yang Ming is from Taiwan and my understanding is owned by Taiwanese government. I think the ships probably will be built by a South Korean ship yard.

JEast

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Re: SSW - Seaspan
« Reply #359 on: January 04, 2013, 07:43:54 AM »
Thanks for the correction zippy1 on my fat fingers as the ships are rumored to be built in South Korea and Yang Ming Marine is indeed Taipei based.

Cheers
JEast