Seaspan Gets Forty-Ninth Containership

Seaspan Corporation (NYSE:SSW) accepted delivery of another 8500 TEU containership named the COSCO Malaysia from Hyundai Heavy Industries Co., Ltd. on May 19, 2010. This is Seaspan's seventh delivery in 2010, expanding the company's operating fleet to 49 vessels. The COSCO Malaysia is on charter to COSCO Container Lines Co., Ltd. (COSCON) of China under a twelve-year, fixed-rate time charter. The COSCO Malaysia is the fourth of eight 8500 TEU sister ships and the sixth of a total of eighteen vessels to be chartered by Seaspan to COSCON.