Seaspan: massive newbuilding orders planned

Container carrier Seaspan is considering placing orders of up to US$3 billion, for between 20 to 30 newbuildings. This news comes on the back of healthy dividends, which were announced on July 27. “We are pleased to increase our second quarter dividend by 25 percent due to our increasing cash flows generated through the strength of our business model and the significantly improved container shipping industry fundamentals,” said Gerry Wang, Seaspan’s CEO.