Seaspan Starts Fixed-rate Charter with Maersk Line

Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of a 10000 TEU containership, the Maersk Genoa. The new containership, which was constructed at Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd., is Seaspan's eleventh 10000 TEU SAVER design containership and fifth delivery in 2016.

The Maersk Genoa will commence a five-year, fixed-rate time charter with Maersk Line A/S ("Maersk"). Maersk may extend the charter with two consecutive one-year options.  The ship is the second of a total of two 10000 TEU SAVER design vessels to be chartered by Seaspan to Maersk. The delivery of the Maersk Genoa expands the Company's operating fleet to 89 vessels.