With apologies to Frank Sinatra, “it was a very good year.” Seapan’s fleet continued to expand on schedule, generating improved normalized net earnings and cash available for distribution. And with the additional vessels, as well as the ones coming, the company’s cash flow will continue to improve setting the stage not only for the announced 50% dividend increase, but the adoption of a progressive dividend policy, aimed at increasing dividends in a manner that both preserves the company’s long-term financial strength and its ability to expand its fleet.
This is only an excerpt of A Peek Inside – Seaspan’s Piece of the Carlyle/Tiger Vehicle
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Tags: · BofA Merrill Lynch, Deutsche Bank, GC Industrial, Gerry Wang, Graham Porter, Greater China Intermodal Investments LLC, Perkins Coie, Peter Shaerf, Seapan, The Carlyle Group, Tiger Investments
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