Seaspan Continues Fleet Expansion with Deal to Acquire Two Secondhand Containerships

Containership leasing company Seaspan Corporation says it has entered into an agreement to acquire two secondhand 8,500 TEU scrubber-fitted containerships on long-term charter with a global liner customer.

The two vessels are anticipated to be delivered during the second quarter of 2021.

The order builds one of the more aggressive fleet expansions in the industry. Since December 2020, Seaspan has announced plans to add 41 vessels comprising 597,000 TEU, including 37 newbuild vessels and now four second-hand ships, increasing Seaspan’s total capacity 1,670,200 TEU on a fully delivered basis.

At the end of last year, Seaspan’s global fleet consisted of 127 vessels and approximately 1,073,200 TEU capacity.

“I am extremely proud of our team’s consistent delivery of creative customer partnership in all market conditions. Through our broad scale, reliable services and quality solutions, Seaspan continues to develop the win-win solution to our global liner customer to facilitate their business successes in the face of tight supply market dynamics,” said Bing Chen, Chairman, President and CEO of Seaspan. “We are confident about the prospect of continued quality growth and value creation for our shareholders throughout the market cycles.”

Seaspan said the two vessels announced today are anticipated to be financed from additional borrowings as well as cash on hand.

Seaspan Corporation is a wholly owned subsidiary of Atlas Corp., which trades on the New York Stock Exchange under the symbol ATCO.

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