SEASPAN, with major offices in Hong Kong and Vancouver but officially registered in the Marshall Islands, has posted a loss of US$122.6 million, down 73 per cent year on year, attributed increasing operating costs and declining charter rates.
But third-quarter charter also posted a 39 per cent year-on-year revenue increase to $154.8 million. Market conditions deteriorated in the past three months compared to the second-quarter loss of $39.4 million.
In the third quarter, the company received three new containerships, bringing the operating fleet to 65 units.
Among the three vessels, two are the largest ships in Seapan's fleet with capacity of 13,100 TEU and on long-term charter to Cosco as its flagship vessels.