Seaspan Corporation (NYSE:SSW) announced today that it accepted
delivery of its first 13,100 TEU containership, the COSCO Glory. The new containership, which was constructed by Hyundai Heavy Industries Co.,
Ltd., is Seaspan's sixth delivery in 2011 and expands the Company's
operating fleet to 61 vessels. The COSCO Glory is on charter to
COSCO Container Lines Co., Ltd. ("COSCON") under a twelve-year,
fixed-rate time charter. The ship is the eleventh of a total of eighteen vessels to be chartered by Seaspan to COSCON. Gerry Wang, Chief
Executive Officer, Co-Chairman and Co-Founder of Seaspan, commented, "We are pleased to achieve this latest milestone, as we take delivery the
first of eight 13100 TEU vessels. The COSCO Glory is the largest vessel
in our fleet and a flagship vessel in the COSCON containership fleet. We look forward to taking delivery of the remaining seven vessels in this
class and further strengthening our deep relationship with COSCON."About Seaspan Seaspan is a leading independent charter owner of containerships, which it
charters primarily pursuant to long-term fixed-rate time charters to
major container liner companies. Seaspan's contracted fleet of 69
containerships consists of 61 containerships in operation and eight
containerships scheduled for delivery through March 2012. Seaspan's
operating fleet of 61 vessels has an average age of approximately five
years and an average remaining charter period of approximately seven
years. All of the eight vessels to be delivered to Seaspan are already
committed to fixed-rate time charters of 12 years in duration from
delivery. Seaspan's customer base consists of eight of the world's
largest liner companies, including A.P. Moller-Maersk A/S, China
Shipping Container Lines (Asia) Co., Ltd., Compania Sud Americana de
Vapores S.A., COSCO Container Lines Co., Ltd., Hapag-Lloyd USA, LLC,
Kawasaki Kisen Kaisha Ltd., Mitsui O.S.K. Lines, Ltd., and United Arab
Shipping Company (S.A.G.). Seaspan's common shares are listed on The New York Stock Exchange under the symbol "SSW". Seaspan's Series C Preferred Shares are listed on The New York Stock Exchange under the symbol "SSW PR C".
SHIPPING NEWS
11 June 2011 - 15:40
Seaspan Accepts Delivery of 13,100 TEU Containership
Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of its first 13,100 TEU containership, the COSCO Glory.
SHIPPING NEWS
11 June 2011 - 15:40
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