Seaspan confirms order of ten 7,000 TEU boxships

The Canadian vessel owner and operator, Seaspan Corporation has entered into an agreement with a major shipyard for ten 7,000TEU scrubber-fitted new container ships.

The newbuild LNG Post-Panamax vessels are anticipated to be delivered in the company’s fleet between the second and the fourth quarter of 2024. Upon completion, they will enter long-term charters with a global liner customer, whose name has not been disclosed yet.

It is estimated that the vessels will generate approximately US$1.4 billion of gross contracted cash flows over their minimum terms and that will be financed from additional borrowings as well as cash on hand.

“With our previously announced order of fifteen 7,000TEU dual-fuel vessels, this newbuild order is further evidence of the deep customer demand for this vessel size, which is uniquely suited to replace the global fleet’s aging cohort of 4,000 to 9,000TEU vessels,” pointed out Chairman, President and CEO of Seaspan, Bing Chen.

With these ten new vessels, Seaspan’s total orderbook since December 2020 has reached 70 vessels and 839,000TEU, increasing total capacity to 1,959,200 TEU, on a fully delivered basis.