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Atlas Corp. (ATCO-PH)

NYSE - NYSE Delayed Price. Currency in USD
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25.63+0.02 (+0.08%)
At close: 4:00PM EDT
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  • R
    Retireyung
    once again spot rates are up $65,000 per day for the 8500, $50,000 per day for the 4250
  • R
    Ryan
    Rates keep going up. So not having many contracts come due for renegotiation in Q4 2020 and Q1 2021 is looking more and more like a gift. We might not see meaningful impact to earnings until 2+ quarters from now, but collect the divy and be patient.
  • R
    Retireyung
    once again spot market rates are up $64,000 per day for the 8500 teu

    I wonder when Atco stock price will catch up with its fundamentals
  • R
    Retireyung
    guess what.............spot rates are up again ....$62,000 per day for the 8500 TEU $49,000 per day for the 4250 TEU vessels ...........
    The future has never looked better for Seaspan
  • R
    Retireyung
    Container ship spot rates are up again, $60,000 per day for the 8500 TEU vs $30,000 per day Jan 2020and the 4250 TEU are at $47,000 per day from $13,950 Jan 2020 ( pre-pandemic)
    Out of 127 ships listed on their SUPPLEMENTAL DATA, SEASPAN DETAILED FLEET TABLE around 50 are on short term charters at "Market Rate. I don't know what market rate means but it is not spot rate. When I contacted investor relations this is what they said ""Your focus on our term, “market rates” is on point, as I view it vague, and we need to clarify better. That’s the background, and the answer is for markets rates we are referring more to market rates as being a guide in our renewal strategies not that we are fixing current daily rates for specific TEU sizes. Our renewal strategies are essentially summarized as a “longer for less’ approach focusing on longer-term charters, generally at a discount to current market rates."
    The contract terms for these 50 or so ships is short some a few months some longer . Many of these contracts are coming due for re-negotiation soon. here are some examples "Minimum 3 months and up to 9 months" , Minimum 56 days and up to 6 months + option for 6 months +/- 30 days, Minimum 2 months and up to 7 months "
    check out the supplemental posted on Atlas's web page.
  • R
    Retireyung
    supplemental financial information in Q1 2021 and Q4 of 2020 each show a spreadsheet called Seaspan Fleet. in that listing ships 50 - 54 and 56-59 & 85 - 100 & 102 -115 all show the contracts "at market rate" The notation on the spreadsheet "Given that the term of the charter is less than three years (excluding any charterers? option to extend the term), this vessel is being chartered at market rate." There are 51 ships in total listed as chartered at Market RatesInvestor relations are having trouble explaining to me what is actually going on Is Atco sandbagging to allow major shareholders to increase their #$%$ at the expense of us smaller investors ? something fishy is going on ................maybe Sokol has forgotten Lubrizol
  • i
    irish
    This is just the beginning of the upgrades. As these 41 vessels come on board and after APR announces a massive deal with ZE energy this stock will explode. All of these analyst know about Sokol and his uncanny ability to grow companies. This is why so many analyst cover this small company($1.4B sales). They will not want to miss this one for their clients. Look for$18- $20 by year end
  • j
    josh
    5/10/21
    Jefferies Financial Group Raises Price Atlas Corp. (ATCO) $13.50 ➝ $16.00 Hold
  • A
    A8Bil
    Very active conference call...interesting. A lot of the speculation here about SSW's ability to take advantage of TEU market rates turns out to be just that...no turn over of charters in Q1. further, SSW is not sticking it to their customers, but are instead focusing on longer term charters at less than the short-term market rates to secure stability over short term earnings spikes.
  • P
    Pete
    Sokol's gonna have some 'splainin' to do in the call tomorrow. Insanely record charter rates that have been rising throughout the reporting period, and yes, we have many of our vessels contracted out long-term, but we also have a large number of them at "market rates". Where is the resulting windfall???
  • i
    irish
    looks like APR is not a dog after all. With these three units leased to California that means all but one of their large units are leased. About 90% of the smaller units are leased as well. That us why it was stated in the conference call that the results for APR in 2021 will match or exceed last years numbers. Before the end of the year they will be clarifying what type of programs they will be working on with ZE Energy. And that will be a big big deal.
  • A
    A8Bil
    Considering what's happening in the market overall, ATCO is holding up fairly well
  • R
    Retireyung
    I wonder how the Washington family feel about Fairfax .......loosing control ...the APR deal......
    Is Fairfax making a play for the remainder of Washington's shares ..................keeping the prices depressed in the market ? what kind of funny business do we have going on????
    I can see the logic of paying as little tax as possible .....but what is really going on here
  • P
    Pete
    Today's APR announcement is mildly comforting, but I can't help but feel it was a forced PR that someone felt should be issued in the absence of any news from APR, and to try and head off any questions on next week's ER/call. I mean, basically it says APR has repeated a contract it had the last 2 years. That's not growth, that's just more of the same. I will get more excited about APR when I start reading about growth.
  • R
    Retireyung
    Every week I check the Ycharts for the latest spot rate for the 8500, 4250 & 1700 TEU class ships . This week the 4250 and 1700 class are each up again $42,000 per day for the 4250 and $20,500 per day for the 1700.
    In the Q4 supplemental summary of ship charter terms and pricing, 51 of these smaller vessels are listed as at market rates. The 70 or so larger vessels show the pricing in $ per day. Having 51 ships following the market rates should drive earnings up big time.
    Yet the shares trade low volume and can't get above $14 for very long .......I wonder is the Washington family or fairfax are selling ? Someone is holding the price down ...for what reason ???
    Rates have nearly doubled from pre-pandemic ???? May 3 ought to be very interesting
  • R
    Retireyung
    since the start of Q2 the 8500 TEU ship daily lease rates are up another 12.5%, the 4250 TEU ships are up 13.5% and the 1700 TEU ships are up 19 % .
    with 51 ships charter "at market rates" the forecasts ought to improve significantly.
    ATCO i printing money at these rising rates
  • R
    Retireyung
    an estimated 800,000 shares trade at $14.05 or 14.06 consistently all day long with maybe 100,000 trading out of that range ..........something is going on with ownership...a change in Washington or Fairfax holdings??
  • c
    cantgored
    Record earning and this goes back down … unbelievable
  • B
    BJNEWBOY
    Is someone wanting a buyout and trying to get Atlas cheap?
  • A
    A8Bil
    DAC had blow out earnings...adjusted EPS of $2.83 on the quarter.