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Atlas Corp. (ATCO), a leading global asset management company, distinguishes itself as a top-tier owner and operator focused on disciplined capital allocation to foster sustainable shareholder value. With an experienced asset management team, Atlas targets long-term, risk-adjusted returns across high-quality infrastructure assets, particularly in the maritime and energy sectors.
The company's two main portfolio firms, Seaspan Corporation and APR Energy Limited, are industry leaders in their respective fields. Seaspan, a global leader in containership ownership and management, has recently signed a pivotal Conversion Commitment Agreement with Hapag-Lloyd and MAN Energy Solutions. This agreement aims to retrofit Seaspan's vessels with dual-fuel engines capable of operating on methanol, potentially decreasing CO2 emissions by 50,000-70,000 tonnes annually per vessel. This collaboration emphasizes Seaspan's commitment to environmental sustainability and operational excellence.
Recently, Atlas Corp. has completed the redemption of all outstanding shares of its Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares, Series I. This financial maneuver underscores the company's strong economic health and strategic capital management.
In another key development, Seaspan has partnered with Hyundai Glovis, a leading car carrier, to develop a new fleet of dual-fuel LNG Pure Car and Truck Carriers. These vessels are designed to be methanol and ammonia-ready, reinforcing Seaspan's leadership role in sustainable shipping solutions.
Atlas Corp.'s financial condition remains robust, supported by its extensive asset portfolio and strategic partnerships. The company's clear focus on innovation, sustainability, and efficient capital deployment positions it for continued growth and industry leadership. Investors and stakeholders can expect Atlas to maintain its trajectory of delivering substantial value while spearheading advancements in the global maritime and energy sectors.
Atlas Corp. has released its 2023 Sustainability Report, highlighting significant progress in its ESG initiatives. Key achievements include:
- Seaspan reduced greenhouse gas emissions intensity by 15% compared to 2022
- APR Energy improved its environmental footprint by phasing out diesel engines and offering fuel-flexible turbines
- Atlas strengthened its commitment to diversity, equity, and inclusion through new workplace pillars and employee training
- The company maintained strong governance and ethical practices
CEO Bing Chen emphasized that ESG principles are integral to Atlas's decision-making and business strategies, driving long-term value for stakeholders. The report covers activities from January 1 to December 31, 2023, for Atlas and its subsidiaries Seaspan and APR Energy.
Atlas announced cash dividends on its preferred shares. The Board of Directors declared dividends for three series of preferred shares. For Series D (ATCO PD), the dividend is $0.496875 per share. For Series H (ATCO PH), the dividend is $0.492188 per share. For Series J, the dividend is $0.437500 per share. The period for the dividends is from April 30, 2024, to July 29, 2024. The record date for all series is July 29, 2024, and the payment date is July 30, 2024.
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