ONE Moves Closer to Controlling Stake in World’s Largest Ship Lessor Seaspan

Ocean Network Express (ONE) is deepening its relationship with the world’s largest containership leasing platform, announcing plans to increase its ownership stake in Poseidon Corp., the parent company of Seaspan Corporation, to 48.9%.

The Singapore-based liner operator said it has signed agreements to acquire additional shares in Poseidon from certain existing shareholders. The transaction remains subject to customary closing conditions, including regulatory approvals.

Poseidon is the ultimate holding company of Seaspan, widely recognized as the largest independent owner and operator of containership tonnage globally. Through its wholly owned subsidiary Atlas Corp., Poseidon operates as a global asset management platform focused on maritime and energy infrastructure investments.

“Since our initial investment in 2023, Seaspan has achieved remarkable growth as the world’s leading tonnage platform,” said Jeremy Nixon, Chief Executive Officer of ONE. “We are pleased to acquire this additional stake in Poseidon, which fully aligns with our ONE 2030 strategic growth plan.”

The move brings ONE close to half ownership of the leasing giant, further tightening links between a major liner carrier and the independent vessel-owning sector that underpins much of global container shipping capacity.

The World’s Largest Containership Lessor

Seaspan’s scale has made it a cornerstone of the modern liner industry’s asset-light model. According to company data, the fleet includes 241 vessels with more than 2.5 million TEU of container capacity, spanning ship sizes from roughly 2,500 TEU to 24,000 TEU. The platform employs approximately 7,100 shore-based and seafaring personnel, with an average fleet age of about five years and utilization rates near 99%.

In addition to containerships, Seaspan’s portfolio includes pure car and truck carriers (PCTCs) with capacities ranging between 7,000 and 10,800 CEU, expanding the company’s footprint across key vehicle shipping trades.

Poseidon itself is incorporated in the Republic of the Marshall Islands and tax resident in the United Kingdom, a corporate structure commonly used in global shipping finance. Through Atlas Corp., the group manages two principal operating platforms: Seaspan in maritime leasing and APR Energy in mobile power generation and energy infrastructure.

Strategic Alignment With Liner Operators

ONE’s growing stake reflects a broader strategic trend across container shipping, where liner companies increasingly seek deeper control over vessel supply and long-term fleet planning.

Leasing companies such as Seaspan have become critical partners for carriers seeking to expand fleets without the heavy capital requirements of direct ship ownership. Seaspan alone charters vessels to several of the world’s largest container lines under long-term contracts.

By increasing its investment, ONE effectively strengthens its alignment with the platform responsible for deploying a large share of the global containership orderbook.

The investment also comes during a period of structural change across liner shipping, with alliances being reshaped and consolidation accelerating. Earlier this year, Hapag-Lloyd agreed to acquire Israel’s ZIM Integrated Shipping Services in a $4.2 billion deal, a transaction expected to create a combined fleet exceeding 4.8 million TEU and reinforce the German carrier’s position among the world’s largest liner operators.

While ONE’s transaction does not involve operational integration, the increased ownership stake signals that carriers are continuing to deepen financial and strategic ties with the independent tonnage providers that underpin global container fleet capacity.

If regulatory approvals proceed as expected, the move will bring ONE just shy of majority ownership in the parent company of the world’s largest containership lessor.

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