http://seekingalpha.com/article/1548232-use-textainer-s-5-2-yield-to-build-income-now?source=google_news

TEXTAINER TO BUILD INCOME

There's a lot to love about Textainer. This company is poised to take advantage of some very nice tailwinds and secular megatrends which have been propelling earnings higher year after year. Firstly and most importantly, containerized global freight, the business they are in, grows at a multiple of global GDP. Usually that multiple is between 1.5 and 2.5 times, which has lead to growth of 7%, 5% and 6% in the last three years respectively. Only the global recession of 2009 has stopped this growth trend, and even then it recovered quickly. Secondly, the container freight business has the advantage of being nimble relative to marine shippers. Managers of container freight can give a supply response much faster than the shippers in the face of a global downturn. After all, it's much easier to stop production of 20-foot containers than it is to halt construction of a massive ship. This is why overall utilization has remained consistently higher than that of the shippers.

Thirdly, shippers are increasingly turning to the container lease model. Directly owning intermodal containers has tied up capital for these shippers and so they are often happy to unload container fleets to independents like Textainer. Consider that lessors currently own 48% of the global container fleet but in 2012 made 65% of the purchases. Going forward this industry will be dominated by the lessors. Textainer has multiple channels in which to acquire containers: new production, sales originating from shippers and also leasebacks.

http://online.wsj.com/article/SB10001424127887324448104578611682403165830.html

Spain Told to Claw Back Tax Breaks on Ships

 

MADRID—The European Union Wednesday said it would ask Spain's government to recover some tax breaks from buyers of Spanish ships between 2007 and 2011, a decision that may weaken the already ailing shipbuilding industry in the EU country with the largest number of people out of a job.

 

The decision, announced by EU Competition Commissioner Joaquín Almunia, comes after a two-year probe on the legality of the tax breaks Madrid gave buyers of Spanish-built ships.

 

The breaks allowed shipping firms to shave 20% to 30% off the purchase price charged by the shipyard, a practice that Brussels says is incompatible with its rules on state aid, which are designed to eliminate taxpayer support of uneconomical industries or companies.

http://www.bloomberg.com/news/2013-07-17/u-s-federal-reserve-beige-book-dallas-district-text-.html

US FED RELEASE REPORTS 

Transportation service firms said cargo and container volumes increased over the reporting period, except for air cargo, which held steady. Railroad contacts reported a slight increase in overall volumes, with notable increases in motor vehicles and crushed stone. Container volumes were up strongly in May, and retail trade continued to lead the growth in small parcel shipments, which increased in May for the third consecutive month. Outlooks were generally less positive than at the time of the last report.

Airline contacts noted a seasonal increase in passenger demand over the past six weeks, with demand roughly in line with year-ago levels. Firms expect demand to slow as the leisure travel period ends. One contact expects 2013 to be about the same or slightly better than 2012, while another has an uncertain outlook.

http://www.gasworld.com/news/regions/west-europe/expansion-in-tank-container-leasing-market-for-duo/2002266.article

Expansion in tank container leasing market for duo

Textainer Group Holdings Limited and Trifleet Leasing (The Netherlands) B.V. signed an agreement under which Textainer will invest in new intermodal tank containers to be managed by Trifleet, marking Textainer’s entry into the tank container market.

Trifleet will acquire and lease the containers on behalf of Textainer, serving as its exclusive manager in the intermodal tank container market. The collaboration builds on the strength of the two companies: Trifleet’s expertise and reputation as a premier tank container lessor; and, Textainer’s industry leading size, purchasing power and access to competitive cost of funds. Both companies will continue to operate independently and to focus on remaining the most reliable supplier of containers in their respective markets.