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Seaspan Grows Orderbook to 45 with New Order for Ultra-Large Ships

Mike Schuler
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June 28, 2021

Hong Kong-based containership leasing company Seaspan Corporation has placed its latest order fo six new 15,000 TEU ships, bringing its total orderbook to 45.

The company announced Monday that it has entered into an agreement with an undisclosed major shipyard for the construction of the ships with deliveries planned for the first and second quarters of 2024. All six will be scrubber-fitted and will enter long-term charters with a leading global liner customer upon deliveries, Seaspan said.

With this latest order, Seaspan increases its newbuild orderbook to 45 ships, with all orders placed since December 2020. The company has also acquired four second-hand vessels, two of which have since been delivered. The orders will increase Seaspan’s total capacity to 1,784,200 TEU on a fully delivered basis, from 129 ships representing 1,090,200 TEU currently.

“Our customers continue to recognize the added value of our fully-integrated platform. This order further highlights of our differentiated services, operational excellence, and ability to implement solutions tailored to our customer’s changing requirements,” said Bing Chen, Chairman, President and CEO of Seaspan.

Seaspan said this latest batch of ships is anticipated to be financed from additional borrowings as well as cash on hand.

Seaspan is a wholly owned subsidiary of NYSE-listed Atlas Corp. (NYSE: ATCO).

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