Atlas Corp. operates as a global asset management company focused on long-term, risk-adjusted returns from infrastructure assets in the maritime sector, energy sector and other infrastructure verticals. Recurring Atlas news centers on preferred-share capital actions, including quarterly cash dividend declarations on preferred series and completed redemptions of preferred securities. Company updates also describe maritime asset activity, including vessel programs and long-term charter arrangements in transportation infrastructure.
On March 16, 2022, Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), announced an agreement with a major European liner to extend charter terms for 18 containerships, previously set to roll-off in 2023 and 2024, now extending to 2025. This deal is projected to generate approximately $0.2 billion in incremental gross contracted cash flow over 2023-2025. CEO Bing Chen emphasized the partnership's effectiveness in providing predictable cash flows and minimizing roll-off risks.
Atlas Corp. (NYSE: ATCO) has scheduled its 2022 Investor Day for March 30, 2022, at 10:00 a.m. E.T., to be held at the New York Stock Exchange and accessible via live webcast. The management team will present the company’s operational and financial strategies alongside long-term financial guidance. Chairman David Sokol will open the event, which will also feature a Q&A session. Due to COVID-19 precautions, in-person attendance will be limited and by invitation only. A replay of the webcast will be available 48 hours post-event, viewable for one year.
Atlas Corp. (NYSE: ATCO) reported strong financial results for FY 2021, exceeding its raised guidance. Revenue rose by 18.1% to $1.646 billion, with a net earnings increase to $400.5 million ($1.26 per diluted EPS). Adjusted EBITDA reached $1.116 billion, up 20.8%. The company is initiating FY 2022 guidance with an expected adjusted EBITDA of $1.138 billion. Atlas maintains a robust liquidity position of $888.6 million and plans significant investments of $7.6 billion for future growth.
On February 8, 2022, APR Energy, a subsidiary of Atlas Corp. (NYSE: ATCO), announced a contract to provide Evolution Power Partners with 228 MW of gas generation capacity in Brazil. The project includes a turn-key natural gas-fired power plant in Itaguaí, scheduled to begin operations on May 1, 2022. This initiative is part of Brazil's strategy to address energy shortages due to a severe drought affecting hydro power availability. This marks APR's entry into the Brazilian market, highlighting its commitment to delivering sustainable and reliable energy solutions.
Atlas Corp. (NYSE: ATCO) announced on Feb. 2, 2022, that its subsidiary APR Energy has extended its contract with California's Imperial Irrigation District (IID) to provide about 75 MW of backup energy through 2022. This extension follows APR's successful services in 2021, contributing to IID's grid stability during high-demand periods. APR's solutions include three fully staffed GE TM2500 turbine plants in El Centro and Calexico, each generating 25 MW. IID's proactive approach helps secure energy services at pre-determined prices to ensure reliability for its customers.
Atlas Corp. (NYSE: ATCO) will participate in the Stifel 2022 Transportation & Logistics Conference on February 8th, 2022. CEO Bing Chen is scheduled for a panel discussion on Container Shipping & Port Infrastructure from 9:20 am to 10:30 am ET. Additionally, the management team will engage in investor meetings during the event. A live webcast of the panel will be accessible through the provided link, with a replay available for 24 hours post-event. Atlas focuses on creating sustainable shareholder value in the maritime and energy sectors.
Atlas Corp. (NYSE: ATCO) will release its financial results for Q4 and the year ending December 31, 2021, on February 16, 2022, post-market close. A conference call for shareholders and interested parties is scheduled for February 17, 2022, at 8:30 a.m. ET to discuss these results. Interested participants can join via dial-in numbers or by accessing a live webcast on the company's website. A replay will be available shortly after the call, lasting until March 3, 2022.
On January 5, 2022, Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), announced the completion of financing for its 70-vessel newbuild program. The financing, totaling around $6.9 billion, supports a total investment of approximately $7.6 billion. The latest financing, concluded on December 23, 2021, involves $1.4 billion for ten new LNG dual-fuel vessels. This arrangement combines export credit agency-backed loans and innovative sale-leaseback contracts, enhancing liquidity and securing low-cost funding through strong global partnerships.
On December 15, 2021, Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), announced a groundbreaking financing arrangement totaling approximately $838 million. This innovative financing combines two existing asset financing structures to support the acquisition of eight newbuild vessels. The financing includes a 12-year syndicated loan and sale-leaseback agreements, enhancing Seaspan's capital structure with lower costs and extended maturity profiles. This deal allows Seaspan to secure funding for 60 of its 70 newbuild vessels, promoting long-term liquidity and growth.
Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), announced the delivery of two 12,200 TEU containerships, set to begin 18-year charters with a major liner customer. These deliveries mark the second and third of five newbuilds in this class and were completed approximately two months ahead of schedule. Since November 2020, Seaspan has ordered 70 newbuilds, adding 839,000 TEU and generating over $11 billion in gross contracted cash flows, bringing its total fleet capacity to 1,959,200 TEU.