Seaspan orders 24,000 TEU eco-friendly boxship pair

Seaspan Corporation, a Hong Kong-based owner and operator of containerships and a subsidiary of Atlas Corp, has entered into an agreement with an unnamed shipyard for two 24,000 TEU newbuild containerships.

Illustration. Image Courtesy: Kees Torn on Flickr under CC BY-SA 2.0 license

According to Seaspan, the two 24,000 TEU containerships will include emissions reduction technologies.

The ship deliveries are scheduled to begin in H1 2023. Upon completion, both conventional fuel vessels will enter 18-year charters with a global liner customer.

The vessels are anticipated to be financed from additional borrowings as well as cash on hand, the company added.

As of 30 September 2020, Seaspan’s global fleet consisted of 127 vessels and approximately 1,073,000 TEU, with total contracted revenue of approximately $4.1 billion, and a weighted average remaining lease period of approximately 4 years.

Additionally, in December 2020, Seaspan announced an agreement for five new 12,200 TEU vessels which, together with the two newest vessels, will add a significant new capacity of 109,000 TEU to the fleet over the next two years. These vessels will bolster Seaspan’s core 9,000 to 15,000 TEU size category and add a new ultra-large offering, Seaspan explained.

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“Upon their completion, these seven … newbuild vessels are scheduled to consistently add to our fleet beginning late this year and extending through 2023, supporting our strategies to continue generating quality growth and creating value for our shareholders,” Bing Chen, Chairman, President and CEO of Seaspan, commented.