Seaspan Corporation (“Seaspan”), a wholly-owned subsidiary ofAtlas Corp (“Atlas”), revealed it has actually taken shipment of the last of 4 premium, eco-modern vessels (the “Acquired Vessels”), which have actually each started five-year time charters with a leading international lining.
The Acquired Vessels are included 4 12,000 TEU vessels, with 3 integrated 2018 and also one integrated 2017. Seaspan’s international fleet currently includes 123 vessels standing for the complete capability of 1,023,000 TEU. Seaspan remains to be the market-leading independent proprietor and also driver of containerships, with a market share of roughly 7.8% of the international fleet1.
In link with the shipment of the Acquired Vessels, Seaspan formerly revealed the closing of 4 cutting-edge, versatile financing lease purchases with complete earnings of roughly $340 million, in collaboration with a leading banks. At the verdict of the first 10-year term, Seaspan is obliged to buy the vessels at a fixed cost.
Representation Image– Credits: seaspancorp.com
Bing Chen, President and also Chief Executive Officer of Atlas, commented, “This fleet acquisition, innovative financing, and long-term charters continue to demonstrate Seaspan’s unique and resilient business model of consistently delivering long-term shareholder value despite the unprecedented COVID-19 environment. I am proud of the Seaspan team’s seamless execution on taking the delivery of these four high-quality, eco-modern vessels and immediate deployment on five-year time charters to service our global leading liner. With our best-in-class standards and track record, we remain focused on facilitating our global liners’ success through our consistent operational excellence and creative long-term partnership. Seaspan, in turn, has grown its total contracted revenue by approximately $300 million while further optimizing our fleet, strengthening customer partnerships, enhancing portfolio diversification, as well as expanding innovative financing of $340 million for these vessels amidst the current tightening of the capital markets.”
Reference: prnewswire.com
