HONG KONG, China, Sept. 9, 2019 /PRNewswire/ - Seaspan Corporation
("Seaspan") (NYSE:SSW) announced today that it has purchased a
2010-built 9600 TEU containership and entered into a fixed rate
time charter agreement for the vessel with Ocean Network Express
("ONE"). The time charter will be for a term of 36 months with an
option for up to an additional four months. Seaspan expects to take
delivery of the vessel by the end of April
2020. Upon delivery of the vessel, Seaspan's fleet will
expand to 113 vessels.
About Seaspan
Seaspan is a leading independent charter owner and operator
of containerships with industry leading ship management services.
We charter our vessels primarily pursuant to long-term, fixed-rate,
time charters to the world's largest container shipping liners.
Seaspan's operating fleet consists of 112 containerships with a
total capacity of more than 900,000 TEU, an average age of
approximately seven years and an average remaining lease period of
approximately four years, on a TEU-weighted basis.
Seaspan has the following securities listed on The New York
Stock Exchange:
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Symbol:
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Description:
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|
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SSW
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Class A Common
Shares
|
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SSW PR
D
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Series D Preferred
Shares
|
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SSW PR
E
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Series E Preferred
Shares
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SSW PR
G
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Series G Preferred
Shares
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SSW PR
H
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Series H Preferred
Shares
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SSW PR
I
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Series I Preferred
Shares
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SSWA
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7.125% Senior
Unsecured Notes due 2027
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SSW25
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5.500% Senior Notes
due 2025
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SSW26
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5.500% Senior Notes
due 2026
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Cautionary Note Regarding Forward-Looking Statements
This release contains certain forward-looking statements (as
such term is defined in Section 21E of the Securities Exchange Act
of 1934, as amended) concerning future events, including about the
delivery date of the vessel acquired. Statements that are
predictive in nature, that depend upon or refer to future events or
conditions, or that include words such as "expects", "anticipates",
"intends", "plans", "believes", "estimates", "projects",
"forecasts", "will", "may", "potential", "should", and similar
expressions are forward looking statements. These forward-looking
statements reflect management's current expectations only as of the
date of this release. As a result, you are cautioned not to rely on
any forward-looking statements. Although these statements are based
upon assumptions we believe to be reasonable based upon available
information, they are subject to risks and uncertainties. These
risks and uncertainties include, but are not limited to: the
potential for delay in the delivery of the vessel; the potential
for early termination of the charter and Seaspan's inability to
replace it; and other factors detailed from time to time in our
periodic reports and filings with the Securities and Exchange
Commission, including Seaspan's Annual Report on Form 20-F for the
year ended December 31, 2018. We
expressly disclaim any obligation to update or revise any of these
forward-looking statements, whether because of future events, new
information, a change in our views or expectations, or otherwise.
We make no prediction or statement about the performance of any of
our securities.
Investor Inquiries:
Mr. Matt Borys
Investor Relations
Seaspan Corporation
Tel. +1-778-328-5340
Email: mborys@seaspanltd.ca
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SOURCE Seaspan Corporation
