Seaspan Corporation (NYSE:SSW)

  • Seaspan is one of the world’s leading independent containership owners
  • Seaspan Corporation charters containerships pursuant to long-term, fixed-rate time charters to major liner companies, primarily in Asia
  • Currently owns a large modern fully contracted fleet of 68 vessels, all on long-term, fixed rate charters to take advantage of the stable cash flow and high utilization rates that are associated with long-term time charters
  • Currently one of the largest providers of assets into China

Value added by Tiger

  • Tiger built the company during the Asian crises, leveraging its relationships in both China and Korea
  • Tiger then entered into a 50/50 joint-venture with the Washington Group
  • Through financial engineering and substantial debt and mezzanine capital raises, built 30-vessel private company
  • Created path to liquidity through IPO in 2005, pioneering the first synthetic MLP
  • Tiger/Seaspan supported CSCL and COSCON in developing their international fleet expansion through long-term leasing
  • Now 60 plus vessels all subject to long term charters

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