Seaspan announces framework agreement for strategic cooperation with COSCO SHIPPING
Seaspan Corporation today announced a framework agreement for strategic cooperation with COSCO SHIPPING Energy Transportation Co., Ltd. COSCO SHIPPING Energy specializes in LNG, oil products, and other energy transportation under China COSCO Shipping Corporation Ltd., ("COSCO Shipping"), and has the largest LNG fleet in China.
Pursuant to the Agreement, both parties are committed to strengthening their exchange of and collaboration on opportunities relating to LNG investments, LNG projects, LNG transportation, ethane transportation, or other related and mutually beneficial projects. The strategic partnership will leverage the strengths and networks of both companies, taking advantage of COSCO SHIPPING Energy's experience in the building, operation, and management of LNG vessels, and Seaspan's global experience in the operation and management of containerships, as well as the networks and experience of its board members in the energy sector.
About COSCO SHIPPING Energy Transportation Co., Ltd.
COSCO SHIPPING Energy is a company specialising in LNG, oil products, and other energy transportation under COSCO Shipping and it has the largest LNG vessel fleet in China. At present, it has 29 LNG vessels in operation and 9 LNG vessels in order book.
Seaspan is a leading independent charter owner and operator of containerships with industry leading ship management services. Seaspan's operating fleet consists of 112 containerships with a total capacity of more than 900,000 TEU, an average age of approximately 6 years and an average remaining lease period of approximately 4 years, on a TEU-weighted basis.