LONDON,
UK, May 18, 2022 /PRNewswire/ - Seaspan
Corporation ("Seaspan"), a wholly-owned subsidiary of Atlas Corp.
("Atlas") (NYSE: ATCO), today announced that it has entered into
agreements with a major shipyard to construct four ultra-modern
7,700 TEU dual-fuel liquefied natural gas containership newbuilds
(the "Vessels"). The Vessels are anticipated to be delivered in the
third and fourth quarters of 2024, and will enter into long-term
charters with a leading global liner customer upon completion. The
charters include purchase obligations at the conclusion of the
charter terms, and will contribute approximately $0.95 billion of gross contracted cash flow. The
Vessels are anticipated to be financed through existing liquidity,
cash flow from operations, and additional borrowings. The
transaction remains subject to certain closing conditions.
About Atlas
Atlas is a leading global asset management company,
differentiated by its position as a best-in-class owner and
operator with a focus on disciplined capital deployment to create
sustainable shareholder value. We target long-term, risk-adjusted
returns across high-quality infrastructure assets in the maritime
sector, energy sector and other infrastructure verticals. For more
information visit atlascorporation.com.
About Seaspan
Seaspan is the largest global containership lessor, primarily
focused on long-term, fixed-rate leases with the world's largest
container shipping liners. As at March 31,
2022, Seaspan's operating fleet consisted of 132 vessels
with a total capacity of 1,147,980 TEU, and an additional 67
vessels under construction, excluding those announced today,
increasing total fleet capacity to 1,959,380 TEU, on a fully
delivered basis. For more information, visit
seaspancorp.com.
Cautionary Note Regarding
Forward-Looking Statements
This release contains certain forward-looking statements (as
such term is defined in Section 21E of the Securities Exchange Act
of 1934, as amended) concerning future events. Statements that are
predictive in nature, that depend upon or refer to future events or
conditions, or that include words such as "expects", "anticipates",
"intends", "plans", "believes", "estimates", "projects",
"forecasts", "will", "may", "potential", "should", and similar
expressions are forward-looking statements. These forward-looking
statements reflect management's current expectations only as of the
date of this release. As a result, you are cautioned not to rely on
any forward-looking statements. Although these statements are based
upon assumptions we believe to be reasonable based upon available
information, they are subject to risks and uncertainties. These
risks and uncertainties include but are not limited to: the
potential that the Vessels will not be delivered when anticipated
or at all; the potential for early termination of the charters and
Seaspan's inability to replace them; and other factors detailed
from time to time in our periodic reports and filings with the
Securities and Exchange Commission, including Atlas's Annual Report
on Form 20-F for the year ended December 31,
2021. We expressly disclaim any obligation to update or
revise any of these forward-looking statements, whether because of
future events, new information, a change in our views or
expectations, or otherwise. We make no prediction or statement
about the performance of any of our securities.
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SOURCE Atlas Corp.