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Seaspan buys two boxships for $176 million

Seaspan buys two boxships for $176 million

Seaspan Corporation, a wholly owned subsidiary of Atlas Corp., is buying two 12,000 TEU containerships For $176 million.

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The vessels are expected to be financed from additional borrowings as well as cash on hand. The containerships, both of which will operate under long-term charters with unspecified global liners, were constructed in 2018.

The purchase would push the global fleet of Seaspan to 127 vessels and approximately TEU 1,073,000, with approximately $4.4 billion in total contracted revenue.

"Our team continues to execute on growth through this acquisition bringing the total to 15 high-quality vessels added to our fleet since December of 2019. Atlas’ robust liquidity position, disciplined capital allocation and consistent operational excellence has enabled our strategic expansion despite the unprecedented pandemic," said Bing Chen, Chairman, President, and CEO of Seaspan.

Since December 2019, the containership owner has been on a big purchase spree, which has continued into this year amid the effects of the COVID-19 pandemic, resulting in 15 acquisitions of vessels.

Maritime Business World 

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