Seaspan Announces Delivery of New Vessel

Seaspan Corporation announced the delivery of its fourteenth ship, the Dubai Express. The 4250 TEU vessel, which was built by Samsung Heavy Industries Co. Ltd., was delivered approximately ten weeks ahead of its contractual delivery date. The Dubai Express is the second of nine Seaspan vessels to be chartered to CP USA, a subsidiary of CP Ships Ltd. Seaspan also received notice of expected delivery for the second 4250 TEU vessel to be delivered this year, the Jakarta Express. The containership is scheduled to join the Seaspan fleet on February 21, 2006 and would grow the total fleet to 15 ships, and the number of vessels contracted to CP USA to three.