Required Accounting Adjustment News

Seaspan Reports Financial Results

Seaspan Corporation (NYSE: SSW) announced the financial results for the three and nine months ended September 30, 2009. - Paid a second quarter dividend of $0.10 per share, representing an approximate 20 percent payout ratio. - Reported normalized net earnings of $57.5 million, an increase of $1.7 million, or 3.0%, for the nine month period from $55.8 million for the comparable period last year. Normalized net earnings include a $1.1 million charge that was accrued for in the second quarter as a result of exercising the delivery deferral options. This amount is due at the deferred delivery date of each vessel and represents the cost of entering into the delivery deferral options and, therefore, is required to be accrued for in the period under financial reporting standards.