Seaspan Corporation has not closed its order for four 7,700 teu dual-fuel liquefied natural gas (LNG) containership newbuilds in South Korea after the shipyard allegedly failed to meet certain conditions of the deal.
A subsidiary of the New York-listed Atlas Corporation said the contracts announced in May this year became null and void and that it has reserved its rights to claim against the counterparty in relation to the contracts.
The largest containership lessor, with a fleet of 127 vessels and an additional 63 ships under construction, has not disclosed any further details surrounding the deal multiple brokers reported was struck with South Korea’s K Shipbuilding, a hugely significant order for the yard, formerly known as STX, in its ongoing rehabilitation.
The units, backed by a long-term charter contract with Geneva-based liner giant Mediterranean Shipping Company (MSC), were set to deliver in the third and fourth quarters of 2024 at a price of around $130m each.
