The shipping industry is full of misery these days, what with rates for tankers and bulk cargo carriers so low and numerous shipping companies finding their liquidity situation tightening badly. Container leasing a different matter entirely, though, and TAL International (NYSE:TAL) continues to build solid value for its investors.
A Respectable Fourth Quarter
Most of TAL International's fourth quarter numbers were solid. Leasing revenue rose more than 31% from the year-ago period as leasing rates for containers have stayed quite healthy. Better still, TAL isn't frittering away this demand - adjusted EBITDA rose nearly 34%, while adjusted pre-tax income climbed more than 44%.
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