ATLAS CORP

Atlas Corp. operates as a global asset manager that owns and operates the businesses in which it invests. It focuses on deploying capital across multiple verticals to create growth opportunities for its shareholders. The firm operates through two subsidiaries, Seaspan and APR. Seaspan is an independent charter owner and operator of containerships and APR provides mobile power solutions. The company was founded on October 1, 2019 and is headquartered in London, the United Kingdom.

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Atlas Corporation is a global asset management company that focuses on deploying capital to create sustainable shareholder value. Atlas brings together an experienced asset management team with deep operational and capital allocation experience. The company targets long-term, risk-adjusted returns across high-quality infrastructure assets in the maritime sector, energy sector, and other infrastructure verticals. Its two main portfolio companies, Seaspan Corporation, and APR Energy Limited are unique, industry-leading operating platforms in the global maritime and energy spaces, respectively.

LONDON, July 6, 2021 /PRNewswire/ - Atlas Corp. ("Atlas") (NYSE: ATCO)  today announced that its wholly owned subsidiary, Seaspan Corporation ("Seaspan"), has received delivery of two high-quality 15,000 TEU scrubber-fitted containerships (the "Vessels"). The Vessels were built in 2019 and are on a long-term charter with a long-standing global liner customer.

Seaspan's Fleet Continues to Grow with the Delivery of Two 15,000 TEU Containerships on Long-Term Charters

Only 5.1% price appreciation can help us to gain 31.3% return. Containership industry enjoys significant demand increase as price index tripled during recent months.

Atlas Corp.: Double-Digit Return Opportunity

Let's see if Atlas Corp. (ATCO) stock is a good choice for value-oriented investors right now, or if investors subscribing to this methodology should look elsewhere for top picks.

Should Value Investors Consider Atlas (ATCO) Stock Now?

LONDON, June 30, 2021 /PRNewswire/ - Seaspan Corporation ("Seaspan" or the "Company"), a wholly owned subsidiary of Atlas Corp. ("Atlas") (NYSE:ATCO), today announced that Fitch Ratings ("Fitch") has assigned a first-time Issuer Default Rating (IDR) of 'BB' to Seaspan. Fitch also assigned a 'BB' rating to the Company's senior unsecured notes.

Seaspan Receives Initial BB Corporate and Unsecured Rating from Fitch

Atlas has traded sideways since late February despite the underlying ship leasing rates doubling over the same period and remains below its pre-covid highs. ATCO has a quarter of its fleet that will be rolling onto new long-term charters at 2x-3x prior rates.

Atlas: Much Higher Earnings Already Aboard

New Build Financing Proceeding as Planned with Financing of 13 Vessels Completed to Date Continued Progress on Balance Sheet Optimization and Capital Structure LONDON, June 28, 2021 /PRNewswire/ - Seaspan Corporation ("Seaspan"), a wholly owned subsidiary of Atlas Corp. ("Atlas") (NYSE:ATCO), today announced that it has secured financings (the "Concluded Financings") for 13 of the previously announced 45 newbuild containerships (the "Newbuild Vessels") ordered by Seaspan from December 2020 through June 2021. The Concluded Financings total approximately $1.3 billion of funding with respect to the 13  Newbuild Vessels, which have an aggregate purchase price of approximately $1.4 billion.

Atlas Updates Progress on Financing Initiatives to Provide Greater Transparency of Quality Growth and Capital Allocation Strategies

Expands Market Leadership with Execution of Strategic Opportunities LONDON, June 28, 2021 /PRNewswire/ - Seaspan Corporation ("Seaspan"), a wholly owned subsidiary of Atlas Corp. ("Atlas") (NYSE: ATCO), today announced that it has entered into an agreement with a major shipyard for six 15,000 TEU modern newbuild containerships (the "Vessels") with anticipated deliveries beginning late in the first quarter and extending through the end of the second quarter of 2024. The six high-quality 15,000 TEU containerships will be scrubber-fitted.

Seaspan Announces Newbuild Order for Six 15,000 TEU Containerships

Atlas (ATCO) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.

Strength Seen in Atlas (ATCO): Can Its 5.9% Jump Turn into More Strength?

LONDON, June 23, 2021 /PRNewswire/ - Seaspan Corporation ("Seaspan"), a wholly owned subsidiary of Atlas Corp. ("Atlas") (NYSE: ATCO), today announced that it has entered into agreements with a major shipyard for two 12,000 TEU containership newbuilds (the "Vessels"). The modern containerships are anticipated to be delivered during the fourth quarter of 2022, and upon completion will enter long-term charters with a global liner.

Seaspan Announces Two 12,000 TEU Containership Newbuilds

AerCap Hlds

Costamare

Danaos

Global Ship Lease

Navios Maritime Partners

ZIM Integrated Shipping Services

In a recent edition of the Marketplace Roundtable, J Mintzmyer reviews the containership sector and shares some top picks.

Containership Surge: Update From J Mintzmyer (Podcast Transcript)

Prem Watsa (Trades, Portfolio)'s Fairfax Financial Holdings has revealed an addition to its Atlas Corp. ( ATCO , Financial) holding according to GuruFocus' Real-Time Picks, a Premium feature.

Prem Watsa's Atlas Holding Grows on Notes Exchange

Atlas will redeem Series E & Series G shares in full on July 1, 2021, eliminating its highest cost preferred shares thereby further high grading its capital structure LONDON , June 14, 2021 /PRNewswire/ - Atlas Corp. ("Atlas") (NYSE: ATCO) today announced its intention to redeem all of its outstanding 8.25% Series E Cumulative Redeemable Perpetual Preferred Shares (NYSE: ATCO-PE)  (the "Series E Preferred Shares") and outstanding 8.20% Series G Cumulative Redeemable Perpetual Preferred Shares (NYSE: ATCO-PG) (the "Series G Preferred Shares" and together with the Series E Preferred Shares, the "Redeemed Shares") for cash on July 1, 2021 (the "Redemption Date").  The redemption price per Redeemed Share will be equal to $25.00 plus all accrued and unpaid dividends to the Redemption Date, for an aggregate total of approximately $137 million for the Series E Preferred Shares and $198 million for the Series G Preferred Shares.

Atlas to Redeem Series E and Series G Preferred Shares, Further Optimizing Capital Structure

LONDON, June 14, 2021 /PRNewswire/ - Atlas Corp. ("Atlas") (NYSE: ATCO) today announced that it has completed an exchange and amendment of $600 million aggregate principal amount of senior notes of Seaspan Corporation, its wholly-owned subsidiary ("Seaspan"), including $250 million of 5.5% senior notes due 2025 (the "2025 Notes"), $250 million of 5.5% senior notes due 2026 (the "2026 Notes") and $100 million of 5.5% senior notes due 2027 (the "2027 Notes" and together with the 2025 Notes and 2026 Notes, the "Fairfax Notes"). The Fairfax Notes are held by certain affiliates of Fairfax Financial Holdings Limited (the "Fairfax Holders").

Atlas Corp. Completes Exchange and Amendment of $600 million Fairfax Senior Notes

Capital Product Partners

Top containership stocks have enjoyed a remarkable run since last fall; however, the stock prices have significantly lagged the surging underlying values and business transformations. Almost all of the major companies are now cheaper today than they were last year in terms of EV/EBITDA, P/NAV, and forward P/E.

Time To Load The Wagons With Containerships (Again)

LONDON, May 28, 2021 /PRNewswire/ - Atlas Corp. ("Atlas") (NYSE: ATCO), today announced approval for listing on the Nasdaq Global Market of its 7.125% Senior Unsecured Notes due 2027 ("the Atlas Notes"). The trading symbol of the Atlas Notes is "ATCOL" and the CUSIP Number is 04926V 203.

Atlas Corp. Announces Approval for Listing on the Nasdaq Global Market of its 7.125% Senior Unsecured Notes due 2027

Announces Significant Enhancements and Total Capacity Increase to its Industry-Leading Innovative $2.5 billion Portfolio Financing Program LONDON, May 24, 2021 /PRNewswire/ - Seaspan Corporation ("Seaspan"), a wholly owned subsidiary of Atlas Corp. ("Atlas") (NYSE: ATCO), has entered into a note purchase agreement to issue, in a private placement (the "Private Placement"), $500 million principal amount of fixed rate, sustainability-linked senior secured notes (the "Notes"), of which $450 million principal amount was issued and sold on Friday, May 21, 2021 and $50 million is expected to be issued and sold on August 12, 2021, subject to customary closing conditions. The Private Placement, which involved over 20 prominent investors, was completed as part of Seaspan's amended and upsized $2.5 billion vessel portfolio financing program (the "Program") and constitutes the largest reported sustainability-linked US private placement.

Seaspan Announces Completion of the Largest Reported Sustainability-Linked US Private Placement of $500 million as part of its Amended & Upsized $2.5 billion Portfolio Financing Program

LONDON, May 19, 2021 /PRNewswire/ - Seaspan Corporation ("Seaspan"), a wholly owned subsidiary of Atlas Corp. ("Atlas") (NYSE: ATCO), today announced that it has accepted delivery of two quality 8,500 TEU scrubber-fitted containerships ("the Vessels") on long-term charter with a global liner. Bing Chen, Chairman, President and CEO of Seaspan, commented, "Our creative customer partnership, executional expertise and operational excellence continue to drive quality growth as we provide market leading solutions to our customers.

Seaspan Continues Market-Leading Growth Announces Delivery of Two 8,500 TEU Containerships Backed by Liner Charters

LONDON, May 18, 2021 /PRNewswire/ - Atlas Corp. ("Atlas") (NYSE: ATCO) announced today that it will participate in a fireside panel discussion, State of Freight Backlog, tomorrow, May 19 th at Bank of America's Transportation, Airlines, and Industrials Conference at 12:40 pm – 1:10 pm ET. Graham Talbot, CFO of Atlas Corp. will participate in the panel discussion.

Atlas Announces Management Fireside Chat Panel Tomorrow at Bank of America Conference

LONDON, May 18, 2021 /PRNewswire/ - Seaspan Corporation ("Seaspan"), a wholly owned subsidiary of Atlas Corp. ("Atlas") (NYSE: ATCO), today announced that the Financial Supervisory Authority of Norway (Finanstilsynet) has approved a Base Prospectus dated May 4, 2021.  Final Terms dated May 6, 2021 have been prepared in connection with the bond issues by Seaspan with ISIN NO0010920952 and ISIN NO0010981939, respectively (collectively, the "Final Terms").

Seaspan Announces Approval of Prospectus

LONDON, May 13, 2021 /PRNewswire/ - Atlas Corp. ("Atlas") (NYSE: ATCO) today announced the final results of its previously announced offer to exchange (the "Exchange Offer") up to $80,000,000 aggregate principal amount of 7.125% Notes due 2027 (the "ATCO Notes"), which have been registered under the Securities Act of 1933, as amended, for any and all outstanding $80,000,000 aggregate principal amount of 7.125% Notes due 2027 of its subsidiary, Seaspan Corporation (the "Seaspan Notes"). The Seaspan Notes were originally issued in October 2017.

Atlas Corp. Announces Results of Exchange Offer for Seaspan's 7.125% Notes due 2027 Issued in 2017

LONDON, May 6, 2021 /PRNewswire/ - Atlas Corp. ("Atlas") (NYSE: ATCO) today announced that it has extended the expiration of its offer to exchange (the "Exchange Offer") up to $80,000,000 aggregate principal amount of 7.125% Notes due 2027 (the "ATCO Notes"), which have been registered under the Securities Act of 1933, as amended, for any and all outstanding $80,000,000 aggregate principal amount of 7.125% Notes due 2027 of its subsidiary, Seaspan Corporation (the "Seaspan Notes"). The Seaspan Notes were originally issued in October 2017.

Atlas Corp Announces Extension of Exchange Offer for Seaspan Corporation's $80 Million Outstanding 7.125% Notes due 2027 Issued in 2017

ANNOUNCES US MARKET CONTRACT TO PROVIDE THREE MOBILE TURBINES TO CALIFORNIA'S IMPERIAL IRRIGATION DISTRICT LONDON, May 5, 2021 /PRNewswire/ - APR Energy Ltd. ("APR"), a wholly-owned subsidiary of Atlas Corp. ("Atlas" or the "Company") (NYSE: ATCO), announced today that it has secured a contract with California's Imperial Irrigation District ("IID") to utilize three gas turbines to place power dense distributed generation capacity over three sites during the 2021 summer months.

APR Energy Announces North American Grid Stability Solution

Atlas Corp. (ATCO) CEO Brandon Chen on Q1 2021 Results - Earnings Call Transcript

Blackstone Group

ATCO vs. BX: Which Stock Is the Better Value Option?

ATCO vs. BX: Which Stock Should Value Investors Buy Now?

Atlas (ATCO) delivered earnings and revenue surprises of -8.82% and -2.10%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

News for ATLAS CORP Stock (ATCO)