Seaspan Corporation (Seaspan), a wholly-owned subsidiary of Atlas Corp. (Atlas) (NYSE: ATCO), on Wednesday (May18) 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 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.
Source: Seaspan