ContainersGreater China

Seaspan seals charter extensions for ten containerships

Seaspan Corporation has forward fixed contracts for ten 10,000 teu containerships with an undisclosed major liner.

The new five-year charter agreements will extend four charters set to expire in 2022, four in 2023, and two in 2024. The deal is expected to generate around $670m of additional gross cash flow.

Bing Chen, chairman, president and CEO of Seaspan, commented: “We continue to leverage our differentiated business model to provide creative customer solutions by forward fixing operating vessels and building new vessels. Seaspan now has no fleet roll-offs in 2021, and a limited number in 2022, 2023, and 2024, which insulates us from future market volatility while continuing to grow long-term quality cash flow through all market cycles.”

Seaspan has secured forward-fixing contracts for 58 vessels since the start of 2021, representing approximately 50% of its time chartered fleet.

The boxship owner currently has an operational fleet of 131 vessels and 55 vessels under construction with a total capacity of 1.854m teu, on a fully delivered basis.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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