In the Eyes of the Analysts – Seaspan

Amidst the flood of 2nd quarter analyst reports, we found two comments on Seaspan that we thought were intriguing. First, Justin Yagerman of Wachovia Capital Markets reported that during the quarter Seaspan looked at $3 billion of deals without coming to terms. We wonder if this reflects concerns about credit quality, an issue Seaspan has commented on previously.

Dahlman Rose’s Omar Nokta suggested that one of the most attractive aspects of Seaspan was its access to debt capital. Mr. Nokta “estimates that Seaspan has newbuild commitments of roughly $2.47 billion against $2.11 billion of untapped credit lines

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