Mr Gerry Wang CEO of Seaspan said that container shipping is in good shape with the state of the industry quite healthy, despite economic uncertainties.
But Seaspan is rejecting plenty of investment opportunities right now, convinced market conditions will moderate in its favor. It has looked at more than USD 3 billion worth of ship investment packages in recent months, but has turned them all down for variety of reasons.
Mr Wang said that “We will not do a deal for the sake of growth. We are prepared to be very patient.” He noted that Seaspan was founded in the depths of the Asia crisis and embarked on its expansion program around the time of the September 11 attacks and so has no fear of difficult conditions.
Seaspan reported net earnings for the half year of USD 47.7 million, down by 1.2% YoY on the corresponding 2007 figure, on revenue of USD 109 million. Normalized net earnings were 29% YoY higher at USD 36.8 million.
But Seaspan is rejecting plenty of investment opportunities right now, convinced market conditions will moderate in its favor. It has looked at more than USD 3 billion worth of ship investment packages in recent months, but has turned them all down for variety of reasons.
Mr Wang said that “We will not do a deal for the sake of growth. We are prepared to be very patient.” He noted that Seaspan was founded in the depths of the Asia crisis and embarked on its expansion program around the time of the September 11 attacks and so has no fear of difficult conditions.
Seaspan reported net earnings for the half year of USD 47.7 million, down by 1.2% YoY on the corresponding 2007 figure, on revenue of USD 109 million. Normalized net earnings were 29% YoY higher at USD 36.8 million.