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September 11, 2020

Atlas subsidiary Seaspan receives two containerships

Atlas subsidiary Seaspan has received the delivery of two containerships of 13,000 twenty-foot equivalent unit (TEU).

Atlas subsidiary Seaspan has received the delivery of two containerships of 13,000 twenty-foot equivalent unit (TEU).

One of the two vessels was constructed in 2010, while the other was built in 2011.

The vessels have entered long-term time charters with a global liner.

In July, Seaspan signed an agreement to acquire the containerships in a $146m cash transaction.

Seaspan CEO, chairman and president Bing Chen said: “Despite the unprecedented pandemic, we have now completed the acquisition of 13 high-quality vessels since December of 2019.

“We continue to execute on one of our key growth strategies through our strong pipeline of quality growth opportunities with a disciplined focus on assets that further strengthen long-term partnership with our customers and generate attractive risk-adjusted returns.

“We are excited about the opportunities ahead and remain focused on continuing to expand the scope of our businesses while leveraging operational excellence and a strong liquidity position.”

With the acquisition, Seaspan’s total fleet has increased to 125 vessels with 1,049,000 TEU capacity.

In April, Seaspan received the delivery of the final four high-quality, eco-modern vessels, which started a five-year-term charter with a global liner.

Of the four 12,000 TEU vessels, three were constructed in 2018 and one in 2014.

In November last year, Seaspan signed an agreement to buy a fleet of six containerships in a deal valued at approximately $380m.

Three 10,700 TEU vessels were built in 2012, two 9,200 TEU vessels in 2013 and one 9,200 TEU vessel was built in 2014.

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