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The company was formed as GE Seaco in 1998 as a joint venture between General Electric and Sea Containers. Sea Containers filed for Chapter 11 bankruptcy protection in 2006, and its interests including the stake in GE Seaco were transferred to a new company, Seaco Ltd. Seaco Ltd sold GE Seaco, renamed Seaco Srl, to HNA Group in 2011. [1]
In May 2011, the firm acquired about 171,000 TEU of containers and related lease rights and working capital ($174 million) that it has been managing for Buss Global since 2006. [ 7 ] In December, 2012, TGHL acquired a 50.1% interest in TAP Funding Ltd. for about $78 million, with many types of container (dry freight, refrigerated). [ 8 ]
Sea Containers was a Bermudan registered company which operated two primary business areas: transport and container leasing. It was founded in 1965 by James Sherwood and was initially focused on the leasing of cargo containers. During 1974, Sea Containers was floated on the New York Stock Exchange.
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The 10-second takeawayFor the quarter ended March 31 (Q1), SeaCube Container Leasing met expectations on revenue and missed estimates on SeaCube Container Leasing Misses Where It Counts Skip to ...
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The company's fleet included 7.1 million TEU containers, open tops, flat racks, generator sets and chassis. [1] When TAL International and Triton Container International merged in July 2016, [2] [3] Triton International became the largest container leasing company with a market share of 26%. TAL International's then-CEO Brian Sondey went on to ...
Leasing business accounted for 55% of new container purchases in 2017, with their box fleet growing at 6.7%, compared to units of transport operators growing by just 2.4% more TEU, said global shipping consultancy Drewry in their 'Container Census & Leasing and Equipment Insight', leading to a leased share of the global ocean container fleet ...