Seaspan Orders 10 More Containerships Adding To Its Already Massive Newbuild Orderbook

Containership leasing firm Seaspan Corporation has announced on Monday that it has made an agreement for ten new containerships, bringing its newbuild orderbook to a whopping 70. The ships will be delivered in the second quarter through the fourth quarter of 2024, as per the expectation. Upon delivery, they will enter long-term charters with a leading global liner customer, the company added.

Seaspan Orders 10 More Containerships Adding To Its Already Massive Newbuild Orderbook
Representational Image | Via: Seaspan

Also Read: Seaspan To Order Five More LNG-Powered Containerships Backed By ZIM Charter

Seaspan reported that the ten ships will in at 7,000 TEU capacity and will be scrubber-fitted. The company is expecting the ships to make $1.4 billion of gross contracted cash flows over their minimum terms.

Including the announcements made by the company today, it has now proclaimed 70 newbuild orders since December 2020, adding about 839,000 TEU capacity on a fully delivered basis. The company did not reveal the shipyard for this latest order.

Bing Chen, Chairman, President and CEO of Seaspan, remarked, “This transaction further highlights Seaspan’s unmatched platform and competitive solutions that meet our customers’ needs. With our previously announced order of fifteen 7,000 TEU dual fuel vessels, this newbuild order is further evidence of the deep customer demand for this vessel size, which is uniquely suited to replace the global fleet’s aging cohort of 4,000 to 9,000 TEU vessels.”

Related: Sinogas Orders World’s Largest VLGC

The containerships are anticipated to be financed from additional borrowings as well as cash on hand.

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