Seaspan Corporation (“Seaspan”), a wholly-owned subsidiary ofAtlas Corp (“Atlas”), revealed that it has actually participated in order to construct 5 top notch 12,200 TEU containerships. Upon conclusion as well as shipment, all 5 vessels will certainly begin long-lasting charters with a leading international lining firm as well as undergo vessel acquisition responsibilities at the final thought of the charters.

The newbuild vessels are to be funded from extra loanings in addition to money accessible. This purchase is anticipated to include about $910 numerous acquired capital over the charter duration.

Representation Image– Credits: seaspancorp.com

Bing Chen, Chairman, President, as well as Chief Executive Officer of Seaspan, commented, “Combining our disciplined capital allocation, creative customer partnerships, and quality growth strategies, we are excited to announce agreements for five newbuild 12,200 TEU vessels backed by long-term charter with a long-standing customer. Executing a discreet newbuild opportunity to fulfil customer needs and achieve targeted returns is a win-win result. Together, with our valuable customer, we were able to develop mutually beneficial business solutions while adding high value vessels to our fleet and expanding our contracted revenue base. Our execution of this transaction demonstrates the innovative solutions we deliver by leveraging our scale and best-in-class fully integrated service platform.”

Reference: seaspancorp.com