Dividends, Equity Agreements, Upcoming Financial Results, Debt
Extinguishments, and Other Announcements - Research Report on Teekay,
DryShips, Con-way, Seaspan and FreeSeas
NEW YORK, October 15, 2013
NEW YORK, October 15, 2013 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Today, Analysts' Corner announced new research reports highlighting Teekay
Corporation (NYSE: TK), DryShips, Inc. (NASDAQ: DRYS), Con-way Inc. (NYSE:
CNW), Seaspan Corp. (NYSE: SSW) and FreeSeas Inc. (NASDAQ: FREE). Today's
readers may access these reports free of charge - including full price
targets, industry analysis and analyst ratings - via the links below.
Teekay Corporation Research Report
On October 4, 2013, Teekay Corp. (Teekay) announced that its Board of
Directors has approved a cash dividend of c.$0.32 per share on its common
stock, which is payable on October 31, 2013 to all shareholders of record as
at October 16, 2013. The Full Research Report on Teekay Corporation -
including full detailed breakdown, analyst ratings and price targets - is
available to download free of charge at:
DryShips, Inc. Research Report
On October 4, 2013, DryShips Inc. (DryShips) announced that it has entered
into an Equity Offering Sales Agreement, dated October 4, 2013, with Evercore
Group L.L.C. (Evercore), for the offer and sale of up to $200.0 million common
shares of DryShips. According to the terms of the sales agreement, the Company
may offer and sell its common shares at any time and from time to time through
Evercore as its sales agent. George Economou, Chairman and CEO of the Company,
said, "Drybulk shipping rates and ship values have increased recently and we
believe this trend will continue particularly in the larger asset classes.
Given the improved market backdrop, we believe this is an opportune time to
flexibly access the equity capital markets to reduce some or all of our
funding needs through 2014 that we currently estimate at $150 million." The
Full Research Report on DryShips, Inc. - including full detailed breakdown,
analyst ratings and price targets - is available to download free of charge
Con-way Inc. Research Report
On October 9, 2013, Con-way Inc. (Con-way) announced it will release its Q3
2013 financial results on Wednesday, October 30, 2013, after the market
closes. The Company informed that it will also host a conference call on
Thursday, October 31, 2013 at 8:30 a.m. EDT. Con-way stated that the call can
be accessed through a live internet webcast in the investors section of its
website and a replay and podcast of the presentation will also be available at
the Company's website. The Full Research Report on Con-way Inc. - including
full detailed breakdown, analyst ratings and price targets - is available to
download free of charge at:
Seaspan Corp. Research Report
On September 30, 2013, Seaspan Corporation (Seaspan) announced that it has
exercised its options for the construction of five 10,000 TEU class
containerships at Jiangsu New Yangzi Shipbuilding Co., Ltd. and Jiangsu Yangzi
Xinfu Shipbuilding Co., Ltd, which are scheduled for delivery in 2015 and will
be constructed using Seaspan's fuel efficient SAVER design. The Company
informed that it expects to sign long-term time charters for these vessels
with one of the liner majors in the near term. The Full Research Report on
Seaspan Corp. - including full detailed breakdown, analyst ratings and price
targets - is available to download free of charge at:
FreeSeas Inc. Research Report
On October 10, 2013, FreeSeas Inc. (FreeSeas) announced that it has received
the approval of the Supreme Court of the State of New York on October 9, 2013
of the terms and conditions of an exchange agreement between FreeSeas and
Crede CG III Ltd-a wholly owned subsidiary of Crede Capital Group. Mr. Ion G.
Varouxakis, Chairman, President and CEO of FreeSeas, said, "We are pleased to
announce the extinguishment of approximately $30 million of debt, representing
approximately one third of the Company's total bank debt. This transaction
will result in significant gains, which are presently estimated to exceed $12
million. As a result, our balance sheet will be completely transformed,
resetting us in position for future growth." The Full Research Report on
FreeSeas Inc. - including full detailed breakdown, analyst ratings and price
targets - is available to download free of charge at:
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