Seaspan's $225m in preferred and common share dividends face a potential cut this year as its containerships seek new employment in a weaker rate environment, Morgan Stanley said in a research note.
Fotis Giannakoulis, the bank's maritime analyst, initiated coverage on the Vancouver-based shipowner with an 'underweight' rating and a $4.50 price target. He says boxship charter rates may not show any improvement until 2019.
"Containership
