Seaspan splashes out $146m in cash for boxship pair backed by charters

Seaspan Corporation has acquired two secondhand containerships for approximately $146m in cash in a deal backed by long term charters.

The 2010-built and 2011-built ships are 13,000-teu in capacity and they will operate under long term charters with a “leading global liner”, according to Seaspan.

Bing Chen, chairman, president and ceo of Seaspan, commented: “Despite the extreme market conditions, we will have successfully acquired a total of 13 high-quality vessels backed by long-term charters with three different leading global liners over the past year and during the height of COVID-19.”

Seaspan expects to take delivery of the containerships in the third quarter of 2020.

Seaspan’s global fleet will consist of 125 vessels and approximately 1.05m teu, with total contracted revenue of approximately $4.5bn and a weighted average remaining lease period of approximately four years.

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