Seaspan Continues Newbuild Buying Spree

Seaspan Corporation is continuing its newbuilding spree with an order for six 15,000 TEU containerships.

With the order, Seaspan has now announced 31 newbuild orders, including two 24,000 TEU vessels, and the acquisition of two secondhand 2019-built vessels since December 2020.

The containerships are anticipated to be financed from existing liquidity and additional borrowings.

Seaspan said the latest newbuild agreements were entered into with a major shipyard. Upon delivery in late 2023, the vessels will enter into long-term charters with a global liner.

“With our recently announced 31 newbuilds, it is a strong testament to the trust our customers have in our long-term partnerships,” Bing Chen, Chairman, President and CEO of Seaspan. “I am extremely proud of our team who has flawlessly executed these complex projects leveraging our operational excellence and fully integrated platform. I am confident that the relentless focus on our core competencies prove our resiliency and ability to achieve quality growth despite all market challenges and cycles.”

Seaspan Corporation is a wholly owned subsidiary of Atlas Corp. (NYSE: ATCO). As of September 30, 2020, Seaspan’s global fleet consisted of 127 vessels and approximately 1,073,000 TEU.