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Monday, March 21, 2011

FASCINATING SLIDES - What's Happening in the Global Containership Market?

Last week, we relayed favorable news from Seaspan (SSW) on several fronts, including a higher dividend in our post, Seaspan (SSW): No Smoke and Mirrors as Company Raises Dividend by 50% to $0.75 per Year; Cash Flow Keeps Growing.

Here, we briefly share two slides from Global Ship Lease's (GSL) 3/8/11 earnings deck that are worth revisiting. From GSL's Web site:

Mar 8, 2011
10:30 AM ET
Global Ship Lease Q4 2010 Earnings Conference Call
Webcast Listen to webcast
PDF View Presentation 1.7 MB Add to Briefcase

What's happening with fundamentals and what is the historical relatonship between key variables?
What's the supply/demand market balance for container ships?

We like these pictures, which are consistent with our prior commentary on improving shipping fundamentals. Even with the disaster in Japan, we expect global trade and the global economy will continue to grow this year and over time.

With their large fleets and liner/trading relationships, Seaspan and Global Ship Lease help facilitate global trade and growth. Moreover, we're looking for a dividend stream to arrive from Global Ship Lease to augment our growing Seaspan income stream.

Happy investing,

Jeffrey Walkenhorst

Disclosure: long GSL and SSW.
© 2011 Jeffrey Walkenhorst
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