Kyle Washington News

Seaspan Corporation announced that Gerry Wang, its Chief Executive Officer, Co-Chairman and Co-Founder, will retire from Seaspan effective December 31, 2017 to focus on family business investments and his ongoing charitable efforts. In order to facilitate an orderly transition, Wang will continue in his current role as CEO until the earlier of when a permanent CEO is identified or December 31, 2017, and will continue to serve on Seaspan's Board until the end of the year. Seaspan has commenced a search process to identify a new Chief Executive Officer. The Board of Directors has appointed David Sokol, a member of the Board of Directors and Executive Committee of Seaspan, as Chairman of the Board.

On behalf of its Board of Directors, Seaspan ULC (Seaspan) announced today that long-serving Chief Executive Officer (CEO) Jonathan Whitworth, will be retiring at the end of 2017. Jonathan announced to the Board in 2016 his timeline to retirement. A search for his successor immediately commenced and Seaspan is also pleased to announce that Frank Butzelaar, President and CEO of a related company, Southern Rail Link (SRY), has been identified as Jonathan’s permanent replacement effective April 3, 2017. Frank’s transition will commence on March 3 and he will continue to work closely with Jonathan throughout 2017 to ensure a smooth handover.

Hyundai Heavy Industries (HHI) wins the order for five 14,000 TEU container ships, with a contract option for 5 more. The ultra-large container ships, measuring 368 m in length, 51 m in width, and 30 m in depth, are scheduled to be delivered from 2015. Upon delivery, the vessels will be charted by Seaspan Corp. to the Taiwan’s Yang Ming Marine Transport Corp on a long-term contract. The container ships will feature an electronically-controlled main engine and HiBallast seawater treatment system.

Seaspan Container Lines has placed an order for nine new 4,250 TEU container ships. The new ships will be chartered to the Canadian shipping company, CP Ships. “It is an honor for us to expand our customer base to include CP Ships. Their people, performance, and history are all first class. We are extremely excited about this new relationship,” said Kyle Washington, CEO and chairman of the Washington Marine Group. The new ships will be built at Samsung Heavy Industries, in South Korea. Gerry Wang, director, Sea Span Container Lines said, “this continues our very strong partnership with Samsung. This is the 36th large containership Seaspan has ordered from Samsung Heavy Industries over the past three years.

Gordon Wilson, minister responsible for BC Ferries, congratulated Vancouver Shipyards for joining with fast ferry designer Kvaerner Fjellstrand of Norway in an agreement under which the B.C. shipyard will market aluminum fast ferry designs internationally. "Vancouver Shipyards is the lead contractor on BC Ferries' fast ferry project, and I'm delighted to see that the company's confidence in the international market for high-speed aluminum ferries has grown to the point that it is prepared to take the next step toward a sustainable B.C. fast ferry industry," said Wilson. "I've said all along that the private sector has to get involved in a more direct way in this industry.