Seaspan approaches 1m teu capacity with acquisition of six boxships

Seaspan approaches 1m teu capacity with acquisition of six boxships

Canadian containership operator Seaspan Corporation has announced the acquisition of a fleet of six containerships for a total price of $380m.

The deal include three three 2012-built 10,700 teu vessels, two 2013-built 9,200 teu vessels, and one 2014-built 9,200 teu vessel, which are all operate under long-term charter with a global liner.

According to Seaspan, the acquisition will bring the company’s global fleet to 119 vessels with capacity of 975,000 teu.

The purchase is expected to be financed from both borrowing and cash on hand, and is scheduled to be completed in December.

“This strategic transaction further demonstrates our core competency of allocating capital in a disciplined manner. Connecting this discipline with creative customer partnerships and proven operational excellence generates sustainable long-term value,” said Bing Chen, president and CEO of Seaspan.

“I’m proud of the Seaspan team for consistently leveraging our core competency in creating quality growth in container shipping and beyond. As consolidation continues to play out in the containership space, we’re well positioned to capture great opportunities in the second hand market and to pursue attractive new build programs,” Chen added.

 

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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