CPLP - Containership Rates Soar While The Stocks Dwindle

• Shipping is not a favored sector in 2020. Outside of the energy space, it is difficult to find a more beleaguered performer.
• Containerships transport retail goods across the world and are an essential artery of the global economy, 90% of trade flows by sea.
• There are 3 primary categories of container shipping: liner companies, ship lessors, and box lessors.
• COVID-19 temporarily disrupted down all of these segments, but the underlying industry is rapidly recovering, liners are actually heading for the best year in a decade.
• Box lessors have also soared, many near 5y highs. Meanwhile, ship lessors (i.e. what most think of as "shipping") all trade relatively close to 52w lows. This report reviews the disconnect and outlines top buying opportunities.

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