Seaspan Invests USD 550 Million in New Containerships

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Seaspan Invests USD 550 Million in New Containerships


Seaspan Corporation in its last financial report said that the company has placed a $550 million order with a major Asian shipbuilder for an undisclosed number of new containerships and that a series of deals will be announced over the remaining 6 months of 2013. The vessels are scheduled for delivery in 2015.

The company expects to sign long-term time charters with one of the liner majors shortly.

Gerry Wang, Chief Executive Officer, Co-Chairman, and Co-Founder of Seaspan, said: “During the first half of 2013, we generated strong and stable results and once again increased our common share dividend.”

Mr. Wang continued, “Seaspan continues to capitalize on attractive growth opportunities. We are pleased to have commenced the third quarter by signing a major newbuilding contract and are in the process of finalizing long-term time charter agreements for these vessels. Seaspan’s strong balance sheet combined with its technical and operational expertise in large modern containerships position the Company to continue to execute its growth strategy and provide charterers with their desired vessels.”

With the recent delivery of 4600 TEU MOL Excellence Seaspan now operates fleet of 70 vessels. MOL Excellence is on charter to Mitsui O.S.K. Lines Ltd. (MOL) under a two-year, fixed-rate time charter.

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