Atlas
Atlas Corp. is a global asset management company focused on sustainable shareholder value through investments in high-quality infrastructure assets, primarily in the maritime and energy sectors. Its main portfolio companies include Seaspan Corporation, the largest independent owner and operator of containerships, and APR Energy Ltd., a leading provider of mobile power solutions.
Company Overview
Atlas Corp. is a leading global asset management company with a focus on deploying capital to achieve sustainable shareholder value. The company targets long-term, risk-adjusted returns across various high-quality infrastructure assets in maritime, energy, and other infrastructure sectors.
Seaspan Corporation
Seaspan Corporation, a primary portfolio company of Atlas Corp., is the world's largest independent owner and operator of containerships. It has an industry-leading, fully-integrated operating platform that provides unique and differentiated value to customers. As of September 30th, 2023, Seaspan Corporation reported approximately $17.6 billion in long-term gross contracted cash flow on a fully-delivered fleet basis. The fleet, averaging over 7 years remaining charter term on a TEU-weighted basis, includes more than 140 containerships with a total capacity exceeding 1.1 million TEU as of March 31, 2023.
APR Energy Limited
APR Energy Ltd., another portfolio company of Atlas Corp., specializes in providing rapidly deployable, large-scale power and fast-track mobile power solutions to underserved markets and industries. It is the only global, at-scale operator of mobile gas turbines, with a fleet of approximately 850MW mobile gas turbines and a legacy fleet of around 380MW diesel/gas generators. APR Energy Ltd. operates 9 power plants in 5 countries, with a total installed base of about 900MW.
Sustainability and Corporate Governance
Atlas Corp. has been an active member of the United Nations Global Compact since 2021, demonstrating its commitment to sustainable and responsible business practices. The company's fiscal year runs from January 1 to December 31. Atlas Corp.'s independent auditor is KPMG, ensuring transparency and accountability in its financial reporting. Preferred shares of Atlas Corp. continue to trade on the NYSE under the ticker symbols ATCO-PD, ATCO-PH, and ATCO-PI.
Recent Developments
In March 2023, Atlas Corp. was acquired by Poseidon Acquisition Corp., resulting in the suspension and delisting of its common shares from the NYSE. Seaspan Corporation completed the rollout of SpaceX's Starlink satellite service across its entire fleet in May 2024, enhancing its communication capabilities. Additionally, Seaspan entered into an agreement with Hapag-Lloyd for methanol main engine retrofits of charter vessels in April 2024. Atlas Corp. declared quarterly dividends on its preferred shares in March 2024, maintaining its commitment to providing shareholder value.