1. NEWS

  2. SHIPBUILDING

  3. Seaspan to receive two 13,000 TEU containerships
Seaspan to receive two 13,000 TEU containerships

Seaspan to receive two 13,000 TEU containerships

Seaspan has agreed to buy two containerships in cash for about $146 million, with delivery scheduled in the third quarter of 2020.

A+A-

The two 13,000 TEU containerships constructed in 2010 and 2011 were of high quality, Seaspan said. Both vessels will work with a leading global liner on long term charters. Seaspan hasn't said who it was purchasing the vessels from, nor who the charter client was.

"I am extremely proud of our team's consistent discipline and execution during this unprecedented time. Despite the extreme market conditions, we will have successfully acquired a total of 13 high-quality vessels backed by long-term charters with three different leading global liners over the past year and during the height of COVID-19. This is a true testament to our resilient business model and best-in-class integrated platform, as well as the committed and creative partnerships with our liner customers who trust us as their scalable, reliable, long-term solutions provider," Bing Chen, Chairman, President and Chief Executive Officer of Seaspan stated.

Ryan Courson, Chief Financial Officer of Seaspan, added, "This transaction further demonstrates our patience in allocating capital at the right time, and our ability to source and execute investments to achieve attractive rates of return through economic cycles."

The global fleet of Seaspan will consist of 125 vessels and approximately 1,049,000 TEUs, with gross contract revenue of approximately $4.5 billion, and a weighted average remaining lease duration of approximately four years.

The company will fund all containership purchases through additional borrowings as well as cash on hand.

Maritime Business World 

Previous and Next News

COMMENT ADD

WARNING: Do not use words containing insults, swearing and words against personal and religional beliefs. Comments containing capital letters will not be approved.