Seaspan Buys Two Ships

Wednesday, February 15, 2006
Seaspan Corporation announced that it has agreed to purchase two new building vessels from affiliates of Conti Holding GmbH & Co. KG of Germany, increasing Seaspan’s total fleet to 25 vessels. Seaspan will acquire the two 3,500 TEU vessels upon their delivery in February and July 2007 respectively from Zhejiang Shipbuilding Co. Ltd. in China. The total delivered cost is expected to be approximately $50 million per vessel, subject to certain pre-delivery expenses remaining at budgeted levels. Seaspan also announced that it has arranged simultaneous twelve-year charter agreements for these vessels with Cosco Container Lines Co., Ltd. at $19,000 per day. Seaspan Management Services Limited will supervise the construction of the new vessels and operate both ships for Seaspan at an initial fixed rate of $4,200 per day. Each new vessel is expected to contribute between $5 million and $5.5 million in incremental EBITDA per annum upon delivery. This will result in an increase in distributable cash when the vessels are delivered and operating.
Maritime Reporter October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ship Sales

Tsakos Fixes Three LR2s on Timecharter

Crude, product and LNG tanker operator Tsakos Energy Navigation Ltd (TNP) announced the charter for an average of 36-months per vessel for its three LR2 Aframax

IRISL Looks West with New Vessels

The Islamic Republic of Iran Shipping Lines (IRISL) plans to become one of the world's top ten shipping lines. It plans to modernize its fleet and ally with international

Azerbaijan to Get New Passenger Vessel This Year-end

Azerbaijan Caspian Shipping Company  expects to get the first of the three passenger vessels being built currently at the Baku Shipbuilding & Repair Plant (Baku Shipyard LLC) until the end of 2015,

Maritime Safety

Cutter Diligence to Return

The crew of the Coast Guard Cutter Diligence is scheduled to return to their homeport in Wilmington Saturday following a 45-day patrol in the Caribbean Sea. During their patrol,

China Completes lighthouses construction in disputed South China Sea

China has completed the construction of two lighthouses in the disputed South China Sea, the official Xinhua news agency reported, as tensions in the region mount over Beijing's maritime ambitions.

Singapore-issued CoCs need Revalidation

Holders of Singapore-issued certificates of competency (CoCs) need to revalidate their CoCs to meet the requirements of the 2010 Manila amendments to the International

Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1370 sec (7 req/sec)