Seaspan Corporation Exercises Option to Build Four New 2500 TEU Vessels
Seaspan Corporation (“Seaspan”) (NYSE: SSW) today announced that it exercised its option to build four 2500 TEU vessels at Jiangsu Yangzijiang Shipbuilding (“YZJ”) in China. This option was part of the February transaction with YZJ that included the firm order of four 2500 vessels and options to build eight more at the same price. These new orders will increase the company’s total fleet to 33 vessels when the vessels are delivered between May and August 2009. The total delivered cost is expected to be approximately $44.7 million per vessel, subject to certain pre-delivery expenses remaining at budgeted levels.