Seaspan Q4 Profit Rises

15 March 2011 (Last Updated March 15th, 2011 18:30)

Seaspan Corporation has announced profits of $141.59m for the fourth quarter ending 31 December 2010, an increase of 89.6% on the $74.69m it reported during the same period in 2009. The company's revenue during the quarter increased by 50.1% to $117.9m from $78.60 for the same period o

Seaspan Corporation has announced profits of $141.59m for the fourth quarter ending 31 December 2010, an increase of 89.6% on the $74.69m it reported during the same period in 2009.

The company’s revenue during the quarter increased by 50.1% to $117.9m from $78.60 for the same period of the previous year.

Seaspan reduced its losses to $87.74m during 2010 compared with $145.25m in 2009.

For the full year ending 31 December 2010, the company posted a net revenue of $407.2m, an increase of 42.6% on the $285.6m it reported a year ago.

Seaspan said it took delivery of 13 vessels during 2010, increasing its fleet to 55.