Seaspan Corporation (NYSE: SSW) announced today that it has accepted delivery of the CMA CGM Mumbai, a 10000 TEU containership that will commence a fixed rate time charter with CMA CGM S.A. ("CMA CGM") for a three-year term with an option to extend for an additional three years.
The new containership, which was constructed at Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd. and Jiangsu New Yangzi Shipbuilding Co., Ltd., is the third in a series of four 10000 TEU vessels under time charter to CMA CGM that are scheduled to deliver in the first half of 2018.
Seaspan provides many of the world's major container shipping liners with alternatives to vessel ownership by offering long-term leases on large, modern containerships combined with industry-leading ship management services. Seaspan's operating fleet, including 1 newbuilding containership on order scheduled for delivery to Seaspan by mid-2018, consists of 112 containerships representing a total capacity of over 900,000 TEU. Excluding the newbuild vessel, Seaspan's operating fleet of 111 vessels has an average age of approximately 5 years and an average remaining lease period of approximately 5 years, on a TEU weighted basis.
Source: Seaspan Corp