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No. of Recommendations: 1
Hey, good article about Seaspan. I used to have some shares via a recommendation elsewhere, but for me, the company was just too hard to get my head around and it didn't feel quite right.

Glad to hear the expert review and see what you guys think!

Thanks,
Karen
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No. of Recommendations: 1
Hi Karen

I'm reading between the lines looking for the article. Yuk yuk! Link please.

Mark, who hides links too.
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Here you go! It's in third place on the service home page:

https://www.fool.com/premium/inside-value/coverage/1066/cove...

Karen
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Wow, I hardly ever go to the home page. I'm a One member and have an all access view with all services articles and alerts.

Thanks for pointing the way.

Mark
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That is a good article. It looks like SE is the only commodity type business on the IV's rec list. I wonder why Philip would consider SSW?

Mark
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I wonder why Philip would consider SSW?

Because SSW has been recommended before in other Fool newsletters.
So there are analysts following that stock, in general. I still have it (but a reduced position) from a Fool recommendation many years ago. Don't recall which one. Right now, I'm using options to try and pick up more at lower prices :-)

--
Kuzu
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Because SSW has been recommended before in other Fool newsletters.

Hi Kuzu

Really only HG rec'd SSW in 2010 and 2011. MF Options and Special Situations wrote options. MFO only owns it because I think it got put to them. I had owned it since 2013 and wrote several moneymaking puts. That plus dividends reduced my loss to 8%. I sold at 13.50, so I guess I could get back in and try to recoup but I've moved on. I am pretty sure I am very light in commodities and cyclicals, 7% being generous.

Anyway, IMO I would be surprised if Philip recommends it because another service did.

Mark
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No. of Recommendations: 4
Hi Mark

You are right that I would never recommend any company because another service did. However, since I live in Vancouver, Canada and was in the marine business for 40 years I got interested when I heard about the Hanjin container line bankruptcy

The name Seaspan is famous here in Vancouver as it belongs to a decades old tug and barge company. Washington Group bought them out around 20 years ago and kept the name. Seaspan International is a totally separate company of which Washington owns somewhere around 40%

My background is 11 years at sea from 17-27 and I am a qualified Master Mariner. I also hold a B.Sc in Nautical Science specializing in ship management, naval architecture and port operations. I spent 14 years in port management- all in container terminal operations and ran terminals in Southampton, England, Jeddah, Saudi Arabia and Vancouver. After that I taught ship and port operations, intermodal transportation and freight forwarding .

So I would naturally be drawn to any maritime story especially if it involved a relatively well run company with a possibility of a trough share price.

It is not easy to completely understand any industry when we invest so I started responding to posts on Options and HG boards. Eventually I'd done enough research to write the article

Btw I think you'll find that Options owns SSW stock

Philip
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No. of Recommendations: 2
Philip

I'll listen to you anyday re: maritime investing. I read the book The Box about the history of containers. Very intresting. I don't remember but I thought a company named Seaspan was an early innovator of containers and containerships. Not sure. No relation to current day company.

Mark
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No. of Recommendations: 3
Hi Mark,

I bet the company you are thinking about was Sealand - started by an American trucker called Malcolm McLean. Incredibly successful and started with 35' long containers because that was the maximum length for trailers in many US states. They were the real pioneers that others followed.
Sealand always had their own terminals and unlike most others containers were loaded & unloaded to & from ships directly from Sealand's own trailers. That would be prohibitive today because the size of ships would mean huge trailer parks in prime port areas. Ships back then were 1,000 TEU for transatlantic service and 3,000 TEU vessels did not come in until around 1970 or late 60's. Today's monsters are 20x the capacity of the old Sealand vessels.

Sealand was one of our customers in Port of Felixstowe when I worked there.

https://en.wikipedia.org/wiki/Intermodal_container
In 1955 trucking magnate Malcom McLean bought Pan-Atlantic Steamship Company, to form a container shipping enterprise, later known as Sea-Land. The first containers were supplied by Brown, where McLean met Keith Tantlinger, and hired him as vice-president of engineering and research.[25] Under the supervision of Tantlinger, a new 35 ft (10.67 m) x 8 ft (2.44 m) x 8 ft 6 in (2.59 m) Sea-Land container was developed, the length determined by the maximum length of trailers then allowed on Pennsylvanian highways. Each container had a frame with eight corner castings that could withstand stacking loads.[26] Tantlinger also designed automatic spreaders for handling the containers, as well as the twistlock mechanism that connects with the corner castings.


Every international shipping container must have a "CSC-Plate"
Two years after McLean's first container ship, the Ideal X started container shipping on the U.S. East Coast,[27] Matson Navigation followed suit between California and Hawaii. Just like Pan-Atlantic's containers, Matson's were 8 ft (2.44 m) wide and 8 ft 6 in (2.59 m) high, but due to California's different traffic code, Matson chose to make theirs 24 ft (7.32 m) long.[28] In 1968, McLean began container service to South Vietnam for the US military with great success.

Regards
Philip
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No. of Recommendations: 1
Yes, Sea-land! I loved the whole domino effect of the container innovation to pier size, labor reduction and weakening of the longshoreman, to new machinery, trucks, roads, port depth and wholesale modernization of shipping and trade.

Just really cool! McLean was a true larger than life figure.

Thanks
Mark
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