Seaspan Continues To Execute Growth Opportunities

Source: www.gulfoilandgas.com 4/5/2021, Location: Europe

Seaspan Corporation, a wholly owned subsidiary of Atlas Corp. (“Atlas”) announced that it has entered into an agreement to acquire two quality 8,500 TEU scrubber-fitted containerships (“the Vessels”) on long-term charter with a global liner customer. The Vessels are anticipated to be delivered during the second quarter of 2021.

Bing Chen, Chairman, President and CEO of Seaspan, commented, “I am extremely proud of our team’s consistent delivery of creative customer partnership in all market conditions. Through our broad scale, reliable services and quality solutions, Seaspan continues to develop the win-win solution to our global liner customer to facilitate their business successes in the face of tight supply market dynamics. We are confident about the prospect of continued quality growth and value creation for our shareholders throughout the market cycles.”

The Vessels are anticipated to be financed from additional borrowings as well as cash on hand. As of December 31, 2020, Seaspan’s global fleet consisted of 127 vessels and approximately 1,073,200 TEU. Beginning in December 2020, and along with the two vessels announced today, Seaspan has announced the addition of a total of 597,000 TEU represented by 41 vessels, including 37 newbuild vessels, and the acquisition of four vessels in the secondary markets, increasing total capacity to 1,670,200 TEU, on a fully delivered basis.


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