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| DON'T BUY | 9.490 | David Driscoll | Stock has come down hugely and the yield is very high. Big concern is not because of the long-term contracts but what might happen if shipping costs become greater than the costs of production at home. Questions the sustainability of the yield. | 2008-12-12 | |
| STRONG BUY | 7.010 | Andrew Guy, CFA | Have liked this company for a number of years. Leases container ships on a long-term, fixed cost basis with clients paying for fuel. Very conservative management team. Cash on their balance sheet to buy ships 3 to 5 years out. 23% yield. | 2008-11-19 | |
| HOLD | 12.530 | Kevin O'Leary | Container shipping company. Has fallen in sympathy with the whole sector. This will trade with the optimism around recovery coming out of a recession like all the other shippers. Enjoy the massive dividend. A lot of volatility. | 2008-11-04 | |
| PAST TOP PICK | 11.560 | David Cockfield | (A Top Pick Sept 28/07. Down 66%.) Build, operate and lease container ships. Lessees provide the fuel. Yield of about 18%. Thinks market has concerns about people doing the leasing, who may have problems. He is continuing to Hold. | 2008-10-31 | |
| DON'T BUY | 12.770 | Ben Stadelmann | Absolute classic value trap. Earning before interest, taxes and amortization – they borrowed heavily so have to pay a lot of interest. Ships are wearing out, so there’s a lot of amortization. | 2008-10-09 | |
| TOP PICK | 23.120 | Gordon Higgins, CA, MBA | Leases container ships on long-term leases. Leases can run for 8 years. Leaseholder pays all fuel costs. Their obligation is to make sure ships are available and crewed. 8% distribution. Stock probably dropped because of concerns on the word “Lease”. | 2008-08-08 | |
| TOP PICK | 27.140 | Gordon Higgins, CA, MBA | Container ships that are put out on long-term 8 to 10 year leases with crew. Even if there is no container, they still get paid. Their customers pay for the oil. | 2008-04-17 | |
| TOP PICK | 32.900 | David Cockfield | Container ships. Gives international exposure. Essentially, they get leases for the ships, mainly from Chinese shippers. They provide the crews and the upkeep and sign 10, 12 year leases. 5.4% yield. | 2007-09-28 | |
| Comment | 25.860 | Peter Hodson | A trans-ocean shipping company. 7% dividend is amazing, but it is a very cyclical industry. Use caution. | 2007-02-19 | |
| WATCH | 26.370 | David Driscoll | Trading 27 X current and forward earnings. Dividend yield is 6.75%. Expectation for dividend growth is still there. Outlook looks very strong. Valuation is a little rich, but it is an appealing stock. | 2007-02-15 | |
| PAST TOP PICK | 22.370 | Gordon Higgins, CA, MBA | (A Top Pick June 7/06. Up 6%.) Still likes. Pays out about an 8% distribution. They lease ships to shipping companies. Have orders out for 8 more ships. | 2006-10-12 | |
| TOP PICK | 22.310 | Irwin Michael, B.Com, MBA | A major leaser of ships. Own 17 ships and purchasing another 16. 7% yield. Management has a big stake in the company. | 2006-09-18 | |
| BUY | 20.870 | Brad Willock | Have 24 containerships and had just added another four. 8% dividend which should be pretty safe as they sign long term contracts. High P/E ratio of 25, but this stock trades on its yield. | 2006-08-09 | |
| TOP PICK | 20.980 | Gordon Higgins, CA, MBA | (A Top Pick Apr 5/06. Down 2.8%.) 8% dividend. Lease out ships at $20,000 a day, but it leases were broken, they could get $50,000. | 2006-06-07 | |
| TOP PICK | 21.750 | Gordon Higgins, CA, MBA | A floating REIT. They have container ships. They have long-term leases with companies like CP Ships and a major Chinese shipping company. They have fixed costs on the other end and they make the spread and pay it out to the unit holders. 8% yield. Adding new ships to the fleet. | 2006-04-05 |
