Seaspan announces newbuild containership order for fve high-quality 12,200 TEU containerships
Seaspan Corporation (“Seaspan”), a wholly owned subsidiary of Atlas Corp. (“Atlas”) has entered into purchase orders to build five high-quality 12,200 TEU containerships, the company said in its release. Upon completion and delivery, all five vessels will commence long-term charters with a leading global liner company and are subject to vessel purchase obligations at the conclusion of the charters.
The newbuild vessels are to be financed from additional borrowings as well as cash on hand. This transaction is expected to add approximately $910 million of contracted cash flows over the charter period.
About Atlas
Atlas is a leading global asset management company, differentiated by its position as a best-in-class owner and operator with a focus on deploying capital to create sustainable shareholder value. Atlas brings together an experienced asset management team with deep operational and capital allocation experience.
About Seaspan
Seaspan is a leading independent owner and operator of containerships with industry leading ship management services. As of today, Seaspan’s fleet consists of 127 containerships, representing total capacity of approximately 1,073,000 TEU with $4.1 billion of contracted revenue. Seaspan’s operating fleet of vessels has an average age of approximately 7 years and an average remaining lease period of approximately 4 years, on a TEU-weighted basis.