Oppenheimer Initiates on Containership Sector

Tim Tiberio and Lawrence Lee of Oppenheimer have released their first report on the containership sector, rating all three companies under coverage – Danaos, Seaspan and Euroseas – an impressive Outperform. To support this they cite several factors, including the shielding effect the leasing model provides from near-term cyclicality. While the analysts expect a moderation in global container volume growth in 2008, they expect growing consumer demand in Asia and Eastern Europe, ongoing globalization, and the continual growth of offshore manufacturing will continue to drive long-term growth in the sector.

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