TRTN - Shipowners like Costamare and Danaos poised to benefit from higher rates

Shipping analysts think the situation in the Suez Canal is a positive for a select group of companies that will benefit from tight containership supply and higher rates. The Suez Canal accident is overwhelmingly good news for shipowners that charter vessels to liners, according to Stifel analyst Ben Nolan. Nolan sees pricing upside for companies such as Danaos (DAC), Costamare (CMRE), Global Ship Lease (GSL), Navios Partners (NMM) and Capital Product Partners (CPLP). "Shipowners … who were already in a terrific competitive position are in an even stronger competitive position, at least for the time being," he notes.One-week chart on DAC, CMRE, GSL, NMM and CPLP.The same sentiment on pricing is said to apply for box-equipment lessors Textainer (TGH), CAI International (CAI) and Triton International (TRTN). B. Riley Securities analyst Daniel Day says a worst-case scenario in the Suez Canal could result in record highs for new container prices. More

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Shipowners like Costamare and Danaos poised to benefit from higher rates