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Seaspan commits panamax volte-face

Having earlier this year hit the headlines for sending youthful panamax boxships for scrap, Gerry Wang’s Seaspan has changed tack, wooed by the incredibly low prices on offer.

Seaspan has snapped up four eight-year-old Hanjin boxships from creditors of the bust Korean line.

Seaspan is believed to be paying just $5.25m for the Samsung-built, 4,275 teu quartet. The four ships are listed as Hanjin Kingston, Hanjin Gdynia, Hanjin Atlanta and Hanjin Monaco. The vessels have been lying idle off the Korean coast for the last couple of months.

Splash reported earlier this week that Korean intra-Asia operator KMTC also took another chunk of Hanjin panamax tonnage – paying $5.5m per ship for four similarly sized vessels.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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