Comment / Analysis: Seaspan funding plans may prove costly for investors

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Seaspan’s funding plans continue to be high on my radar, following a 60% plunge in its share value since last August when I argued that the world’s largest non-operating containership owner needed a firm hand on its charter tiller to keep its business plan on course.

There is always the possibility that bearish investors overreacted of course, the bulls will argue, but the main question for me is whether Seaspan is troubled – perhaps seriously – based on its financial fundamentals.

Stress

Its ...