I have a little more knowledge of Bahamas companies Teekay Shipping and Teekay LNG Partners, and Bermuda company Frontline Ltd, all of them oil and gas related, than with Hong Kong-based container shipper Seaspan Corp.

I noticed that yesterday the TK and FRO stocks lifted nicely.

The Citi report describes the limited partnership structure of Seaspan, which is similar to TGP. In my view, the future of LNG shipping is strong, but the possibility of trade war, U.S. recession, and so forth, which would negatively impact Seaspan's container shipping business is why I will stick to TGP. TGP's Liquid Nitrogen Gas delivery business is going to continue to grow rapidly for many years.

While Citi Research notes that Seaspan's business is based on long-term contracts, the company has just two customers, and one of those is China Shipping Container Lines.

My concern is that a lower $USD will possibly cause buying patterns to swing away from China, and a recession in the U.S. could knock down the business in any event.

I am not an expert in this business. Before I committed serious capital to it, I'd check with a couple of them.

But I do like the Seaspan plan, the growth of its business, and the high dividend yield (which is mostly tax-deferred to Americans). Moreover, it was a Citigroup pick last month, so I thought I'd throw it out as an idea.

The RSI charts for the Daily and Weekly data indicates that late July " under $20.50 " would have been a good one to be a buyer of SSW. The stock closed today at $22.47, with a strong final 30 minutes.

In a Bear market " but one with a soft economic landing in place -- SSW would be a quality defensive play, paying a solid dividend.

Seaspan Corp [GICS 20]
(SSW: Yahoo Finance file)
(SSW: StockChart chart)
(SSW: Investertech chart)
(SSW: ADVFN Financial Data)
(SSW: ADVFN Financial Data)

Teekay LNG Partners L.P. [GICS 20, Cara 100]
(TGP: Yahoo Finance file)
(TGP: StockChart chart)
(TGP: Investertech chart)
(TGP: ADVFN Financial Data)
(TGP: ADVFN Financial Data)