Why I (Still) Love Seaspan Corporation
Seaspan Corporation (NYSE: SSW) hasn't given investors many reasons to love it in recent years. Instead, many likely loathe the company given that its stock price has been cut half this year alone due to the continued headwinds of a challenging shipping sector.
That said, while it's not my favorite stock holding by any means, I still love what I see when I look at its long-term potential to create value for investors. In fact, my attraction to the company is starting to grow thanks to three recent developments that have me thinking about adding to my position.
One of the reasons Seaspan Corporation's stock has fallen so sharply is that its earnings have dived, dropping by more than 40% over the past year. The company, however, appears to be turning the corner thanks to some recent improvements in the shipping sector. For example, container demand growth is up 5% versus last year, which is its highest rate in years. This rebound is pushing up rates for both containers and shipping vessels.
Source: Fool.com
