Seaspan to Invest $3bn in New Build Programme

29 July 2010 (Last Updated July 29th, 2010 18:30)

Seaspan is planning to invest $3bn in building programmes to expand its fleet from 20 to 30 ships, according to a company official. The company said newbuild prices for large containerships, which have come down about 20% from their peak, need to be slashed by 30-40%. Seaspan is u

Seaspan is planning to invest $3bn in building programmes to expand its fleet from 20 to 30 ships, according to a company official.

The company said newbuild prices for large containerships, which have come down about 20% from their peak, need to be slashed by 30-40%.

Seaspan is urging shipowners and operators to take a stand with shipyards and refrain from ordering until there is a technological and pricing change.

The company also said that shipbuilding yards must use new materials to make vessels 10% lighter than those in service.

Seaspan has eight 13,100teu ships in the pipeline for delivery next year.