Seaspan Adds Eleventh 10000 TEU Containership to Its Fleet

By Vessels

Seaspan Corporation (NYSE:SSW) announced Friday (Sept 09) that it accepted delivery of a 10000 TEU containership, the Maersk Genoa. The new containership, which was constructed at Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd., is Seaspan's eleventh 10000 TEU SAVER design containership and fifth delivery in 2016.

Seaspan Adds Eleventh 10000 TEU Containership to Its Fleet

Photo for illustrative purposes only - Image courtesy: Maersk

The Maersk Genoa will commence a five-year, fixed-rate time charter with Maersk Line A/S (Maersk). Maersk may extend the charter with two consecutive one-year options. The ship is the second of a total of two 10000 TEU SAVER design vessels to be chartered by Seaspan to Maersk. The delivery of the Maersk Genoa expands the Company's operating fleet to 89 vessels.

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 115 containerships representing a total capacity of over 920,000 TEU, including 12 newbuilding containerships on order scheduled for delivery to Seaspan and third parties by the end of 2017. 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.

Source: Seaspan