Seaspan announces newbuild order for six 15,000 TEU containerships
Seaspan Corporation (“Seaspan”), a wholly owned subsidiary of Atlas Corp. (“Atlas”) (NYSE: ATCO), today announced that it has entered into an agreement with a major shipyard for six 15,000 TEU modern newbuild containerships (the “Vessels”) with anticipated deliveries beginning late in the first quarter and extending through the end of the second quarter of 2024. The six high-quality 15,000 TEU containerships will be scrubber-fitted. Upon completion, the Vessels will enter long-term charters with a leading global liner customer.
Bing Chen, Chairman, President and CEO of Seaspan, commented, “Our customers continue to recognize the added value of our fully-integrated platform. This order further highlights of our differentiated services, operational excellence, and ability to implement solutions tailored to our customer’s changing requirements.”
The Vessels are anticipated to be financed from additional borrowings as well as cash on hand. With these vessels Seaspan will continue to expand its fleet within core strategic size segments. Since December 2020 and including this announcement, Seaspan has announced 45 newbuild orders and the acquisition of four second-hand vessels, two of which have since been delivered.
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. We target long-term, risk adjusted returns across high-quality infrastructure assets in the maritime sector, energy sector and other infrastructure verticals. Our two portfolio companies, Seaspan Corporation and APR Energy are unique, industry-leading operating platforms in the global maritime and energy spaces, respectively.
About Seaspan
Seaspan is a leading independent owner and operator of containerships. We charter our vessels primarily pursuant to long-term, fixed-rate time charters to the world’s largest container shipping liners. At March 31, 2021, Seaspan’s fleet consists of 127 containerships representing total capacity of approximately 1,073,200 TEU. On May 19, 2021, we announced the delivery of two second-hand vessels, increasing Seaspan’s operating fleet to 129 vessels and 1,090,200 TEU. With this announcement, we also have 45 vessels under construction, and have agreed to purchase two additional second-hand vessels, increasing total capacity to 1,784,200 TEU, on a fully delivered basis.
