HONG KONG, China, May 26, 2017 /PRNewswire/ - Seaspan Corporation
(NYSE:SSW) announced today that it has accepted delivery of the YM
Wind, a 14000 TEU containership that will commence a fixed rate
charter with Yang Ming Marine Transport Corp. for a ten-year term
with an option to extend for an additional two years. The new
containership, which was constructed at CSBC Corporation,
Taiwan ("CSBC"), is the ninth
14000 TEU SAVER design containership to join Seaspan's fleet, and
expands the company's operating fleet to 89 vessels.
Seaspan has entered into a sale leaseback transaction for the YM
Wind which provides gross proceeds of approximately $144 million. The proceeds will be used to pay
for the final YM Wind delivery instalment of approximately
$75 million, with the remainder used
for general corporate purposes including debt repayment. The lease
has a term of 12 years, and Seaspan has an option to purchase the
vessel at a pre-determined fair value after 9.5 years.
About Seaspan
Seaspan provides many of the world's major shipping lines
with creative outsourcing alternatives to vessel ownership by
offering long-term leases on large, modern containerships combined
with industry leading ship management
services. Seaspan's managed fleet consists of 114
containerships representing a total capacity of over 915,000 TEU,
including 10 newbuilding containerships on order scheduled for
delivery to Seaspan and third parties by the end of
2018. Seaspan's current operating fleet of 89 vessels
has an average age of approximately six years and average remaining
lease period of approximately five years, on a TEU weighted
basis.
Seaspan has the following securities listed on The New York
Stock Exchange:
Symbol:
|
Description:
|
|
|
SSW
|
Class A common
shares
|
SSW PR
D
|
Series D preferred
shares
|
SSW PR
E
|
Series E preferred
shares
|
SSW PR
G
|
Series G preferred
shares
|
SSW PR
H
|
Series H preferred
shares
|
SSWN
|
6.375% senior
unsecured notes due 2019
|
Forward-Looking Statements
The statements in this press release that are not historical
facts may be forward-looking statements, including statements about
future vessel deliveries. These forward-looking statements involve
risks and uncertainties that could cause the outcome to be
materially different. These risks and uncertainties include, among
others, those discussed in Seaspan's public filings with the U.S.
Securities and Exchange Commission. Seaspan undertakes no
obligation to revise or update any forward-looking statements
unless required to do so under the securities laws.
For Investor Relations Inquiries:
Mr. David
Spivak
Chief Financial Officer
Seaspan Corporation
Tel. 604-638-2580
Mr. Michael
Sieffert
Director, Corporate Finance
Seaspan Corporation
Tel. 778-328-6490
For Media Inquiries:
Mr. Leon
Berman
The IGB Group
Tel. 212-477-8438
SOURCE Seaspan Corporation