By Scott Deveau (Bloomberg) -- Fairfax Financial Holdings Ltd., the investment firm run by Prem Watsa, is preparing to increase its investment in Seaspan Corp. by $500 million to help fund the containership owner’s takeover ambitions. Fairfax plans to exercise warrants to buy 77 million shares in the Hong Kong-based company at $6.50 per share in two phases starting this … [Read more...]
Seaspan Grows ‘Eco’ Containership Fleet with Acquisition Greater China Intermodal Investments
Independent containership owner and operator Season Corporation has announced its acquisition of the remaining shares Greater China Intermodal Investments, which will significantly increase the company's earnings per share, Seaspan announced Tuesday. Under the deal, Season is acquiring the remaining 89% of GCI that it does not already own from affiliates of The Carlyle … [Read more...]
Seaspan trusts MacGregor for a series of container stowage system upgrades to improve fleet efficiency
Seaspan Corporation, world's leading independent owner, operator and manager of containerships, has placed an order with MacGregor for cargo system update of its eleven 10,000 TEU container vessels. Seven of the ships were returned to Seaspan from the bankrupt South Korean container carrier Hanjin Shipping and four of the ships are in final stage at the shipyard. The work … [Read more...]
Ship Photos Of The Day – Seaspan Shipyard, Vancouver
By Cindy Konrad (gCaptain) On October 19, 2011 ,under the National Shipbuilding Strategy, a $30 billion project, Seaspan won a major contract to rebuild the Canadian government's non combat vessels. “If it does not have a gun and larger than 1000 gross tons we are building it here,” said Brian Cater, President of Seaspan. This includes the Canadian Coast Guard and the non … [Read more...]
Seaspan Denies Hanjin Fee Cut Dealing Blow to Shipping Line
By Kyunghee Park (Bloomberg) -- Seaspan Corp., a container ship-leasing company, said it won’t accept Hanjin Shipping Co.’s request for a cut in charter rates by about 30 percent, dealing a blow to efforts by South Korea’s biggest liner to revamp debt amid a prolonged trade slump. The Hong Kong-based ship lessor could instead consider ordering new, fuel-efficient vessels … [Read more...]