Seaspan Takes Third 13,100-TEU Ship Charter company has eight more ships on order

Container ship owner-charterer Seaspan took delivery of the third in a series of eight ships with capacities of 13,100 20-foot-equivalent units for charter to COSCO container lines. The Cosco Development, built by Hyundai Heavy Industries in South Korea, is Seaspan's ninth delivery in 2011 and expands the company's operating fleet to 64 vessels. Seaspan has eight more ships scheduled for delivery through 2014. Seaspan’s vessels now average five years in age and have an average remaining charter period of approximately seven years. All of the eight vessels to be delivered to Seaspan are committed to charters of 10 to 12 years. The company’s customers include Maersk, China Shipping, CSAV, COSCO, Hanjin, Hapag-Lloyd, “K” Line, MOL and United Arab Shipping.

Date: 13 Aug 2011                                                                  Source: Journal of Commerce