Seaspan takes delivery of 27th ship
Ahead of schedule, MANILA EXPRESS delivered by Samsung


 

Seaspan Corporation recently announced the delivery of its 27th vessel, the Manila Express. The 4250 TEU vessel, which was built by Samsung Heavy Industries Co. Ltd., was delivered approximately three weeks ahead of its contractual delivery date.

The Manila Express is the last in a series of nine Seaspan vessels to be chartered to Hapag-Lloyd USA ("Hapag-Lloyd"), a subsidiary of Hapag Lloyd AG, the world's fifth-largest liner company.

"The completion of our series of nine 4250 TEU vessels for charter to Hapag-Lloyd marks another major milestone in the growth of Seaspan," said Gerry Wang, Chief Executive Officer of Seaspan. "We are very grateful to Samsung for their outstanding performance in building these vessels and very pleased to have established such a substantial relationship with Hapag-Lloyd. We hope to cooperate with both of these major industry players on future projects."

Seaspan owns containerships and charters them pursuant to long-term fixed-rate charters. Seaspan's fleet of 55 containerships consists of 27 existing containerships and 28 to be delivered over approximately the next 3.5 years. The 28 vessels that Seaspan has contracted to purchase are already committed to long-term time charters averaging approximately 11.0 years in duration from delivery. Seaspan's operating fleet of 27 vessels has an average age of approximately five years with an average remaining charter period of approximately eight years. Seaspan's customer base consists of seven of the largest liner companies, including China Shipping Container Lines, A.P. Moller-Maersk, Mitsui O.S.K. Lines, Hapag-Lloyd, Coscon, K-Line and CSAV.