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Domestic Shipping
Seaspan fleet sails past 1 million-TEU mark with four-ship purchase
Date:2020-03-02 Readers:
HONG KONG's Seaspan has built up a fleet of 123 vessels for 1,023,000 TEU in total capacity, following the purchase of four 12,000-TEU containerships for US$367 million in cash, bringing its global market share to 7.9 per cent.

The four vessels come with long-term charter agreements with a leading global liner, Seaspan said, reported gCaptain, Ventura, California. Three of the vessels were built in 2018 and one in 2017.

“The acquisition of four high-quality, young, sizeable, eco-modern vessels marks our 11th containership acquisition in the past five months, in aggregate adding 117,000 TEU to our global fleet, which now exceeds one million TEU,?said CEO Bing Chen.

“With our unique business model backed by a strong balance sheet and robust cash flow, we will accelerate sustainable value creation through executing high-quality growth opportunities, as well as continue to be the trusted and preferred partner for our leading global liner customers.?

The addition of the four ships will bring Seaspan’s total contracted revenue to US$4.6 billion with a weighted average remaining lease period of approximately 4.2 years, the company said.

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