Seaspan Corporation (NYSE:SSW) announced today that it has accepted delivery of the MSC Madhu B, an 11000 TEU containership that will commence a bareboat charter with MSC Mediterranean Shipping Company S.A. (MSC) for a period of seventeen years.

Seaspan takes delivery of fourth 11000 TEU SAVER containership - MSC Madhu B
Caption: Launching of container ship MSC Madhu B at HHIC-TECH Shipyard on August 19, 2017

Upon completion of the bareboat charter period, MSC is obligated to purchase the vessel for a pre-determined amount.

The MSC Madhu B, which was constructed at HHIC-PHIL INC., is Seaspan’s fourth 11000 TEU SAVER design containership in a series of five ships under bareboat charter to MSC.

This is Seaspan’s fifth vessel delivery in 2017, expanding Seaspan’s operating fleet to 89 vessels.

Source: Seaspan Corporation