Seaspan Exercises Options for Five More SAVER Design Vessels

Seaspan Corporation exercised options for the construction of five (5) 10,000 TEU class containerships, yesterday at Jiangsu New Yangzi Shipbuilding Co., Ltd. and Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd.

These vessels are scheduled for delivery in 2015 and will be constructed using Seaspan’s fuel efficient SAVER design.

Seaspan expects to sign long-term time charters for these vessels with one of the liner majors in the near term.

The vessels remain subject to allocation in relation to Seaspan’s right of first refusal agreement with Greater China Intermodal Investments LLC, an investment vehicle established by Seaspan, an affiliate of global alternative asset manager The Carlyle Group, and Blue Water Commerce, LLC.

[mappress]

Seaspan Corporation, October 1, 2013