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Published: 2019-11-15

Seaspan acquires six container vessels

Shipping Seaspan acquires six container vessels

Photo: Seaspan

The purchase totaling $380m in cash is expected to be financed from additional borrowings as well as cash on hand.

The transaction will move Seaspan's global fleet closer to 1m TEU, with a final fleet size of approx. 975k TEU. It positions the company as one of world's leading independent charter owners with a projected market share of approx. 7.7% of the global fleet.

New acquisitions are comprised of three 10,7k TEU vessels built in 2012, two 9,2k TEU vessels built in 2013, and one 9,2k TEU vessel built in 2014. This adds up to approx. 59,7k TEU. Delivery is expected in December 2019, upon which Seaspan’s fleet will grow to a total of 119 ships.

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