Seaspan Corporation announced yesterday that it has signed
contracts for the construction of four 10,000 TEU class newbuilding
containerships at Jiangsu New Yangzi Shipbuilding Co., Ltd. and Jiangsu
Yangzi Xinfu Shipbuilding Co., Ltd.The vessels are scheduled for delivery in 2014 and will be
constructed using Seaspan’s fuel efficient SAVER design. Concurrently
with executing the newbuilding contracts, Seaspan signed long term,
fixed-rate time charters for these vessels with Mitsui O.S.K. Lines,
Ltd. (“MOL”). In connection with this transaction, Seaspan has also
agreed to purchase from MOL four 2003-built 4,600 TEU class second hand
vessels, for delivery in the second half of 2013 and first quarter of
2014, and has signed short-term fixed-rate time charters for these
vessels with MOL.These four 10,000 TEU class newbuilding containerships and four 4,600 TEU class second hand containerships remain subject to allocation in
relation to the right of first refusal agreement with Greater China
Intermodal Investments LLC, an investment vehicle established by
Seaspan, an affiliate of global alternative asset manager The Carlyle
Group, and Blue Water Commerce LLC. Seaspan intends to fund construction of its portion of these eight containerships initially with a portion
of the proceeds of its previous Series C and D preferred share offerings and, subsequently over the next few quarters, with debt financing.
Seaspan is considering various sources of debt financing to which it has access.
WORLD SHIPPING
23 January 2013 - 23:12
China: Seaspan Inks Newbuilding Contracts for SAVER Design Vessels
Seaspan Corporation announced yesterday that it has signed contracts for the construction of four 10,000 TEU class newbuilding containerships at Jiangsu
WORLD SHIPPING
23 January 2013 - 23:12
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