Greater China

Yang Ming confirms Seaspan charter deal

Hong Kong: Seaspan Corporation announced that Yang Ming Marine Transport has confirmed the term of the fixed-rate time charters for the five 14,000 teu containerships currently being constructed at CSBC Corporation will be extended to ten years with one two-year option.

Two of these vessels previously have been allocated to Seaspan and three have been allocated to Greater China Intermodal Investments LLC under the right of first refusal agreement among Seaspan, GCI and Blue Water Commerce LLC.

"With today's agreement, Yang Ming confirmed Seaspan will build and manage a total of 15 SAVER design vessels for Yang Ming under 10+2-year fixed-rate time charters. This will further increase Seaspan's contracted revenue stream, enhance its earnings power, and strengthen Seaspan's relationship with one of the premier liner companies," said Gerry Wang, ceo of Seaspan. [15/09/14]




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