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Seaspan signs charters out four 10,000-TEU ships with leading box line

NEW YORK listed containership owner Seaspan has finalised five-year charters for four 10,000-TEU ships already ordered from New Yangzi Shipbuilding and Jiangsu Yangzi Xinfu Shipbuilding

Seaspan signs charters out four 10,000-TEU ships with leading box line
12 September 2014 - 10:14
Seaspan signs charters out four 10,000-TEU ships with leading box line

NEW YORK listed containership owner Seaspan has finalised five-year charters for four 10,000-TEU ships already ordered from New Yangzi Shipbuilding and Jiangsu Yangzi Xinfu Shipbuilding, collectively known as YZJ.FAXTEXT = The charters are worth US$130 million and they bring to a total of $6.1 billion for time charter agreements currently in effect, assuming that there are no renewals or extensions, said the Vancouver-headquartered but Hong Kong administered company.

Two of the vessels previously were allocated to Seaspan and two were allocated to Greater China Intermodal Investments LLC (GCI) under the right of first refusal agreement between Seaspan, GCI and Blue Water Commerce LLC.

Seaspan also said it agreed to have YZJ convert its remaining options for up to four 10,000-TEU SAVER design ships into options to build up to six 10,000 TEUers or 14,000 TEUers to be delivered in 2017 and 2018. 

This will bring to a total of 27 newbuildings to be constructed at YZJ for Seaspan and GCI since the beginning of 2011.

Said Seaspan CEO Gerry Wang: "All of Seaspan's newbuildings have now been signed to attractive fixed rate time charters with leading liner operators, consistent with our focus on generating strong and stable cash flow for Seaspan's shareholders."

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