HONG KONG, CHINA -- (Marketwired) -- 07/16/14 -- Seaspan Corporation (NYSE: SSW) announced today that it accepted delivery of a 10000 TEU containership, the MOL Bravo. The new containership, which was constructed at Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd. using Seaspan's fuel-efficient SAVER design, is Seaspan's fourth of five 10000 TEU SAVER design containerships scheduled for delivery in 2014.
The MOL Bravo will commence an eight-year, fixed-rate time charter with Mitsui O.S.K. Lines Ltd. ("MOL"). The ship is the first of a total of five 10000 TEU SAVER design vessels, and the seventh of a total of eleven vessels, to be chartered by Seaspan to MOL. The delivery of the MOL Bravo expands the Company's operating fleet to 75 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 109 containerships representing a total capacity of over 840,000 TEU, including 30 newbuilding containerships on order scheduled for delivery to Seaspan and third parties by the end of 2016. Seaspan's current operating fleet of 75 vessels has an average age of approximately seven years and an average remaining lease period of approximately five years.
Seaspan has the following securities listed on The New York Stock Exchange:
Symbol: Description: ------------------------------------- SSW Class A common shares SSW PR C Series C preferred shares SSW PR D Series D preferred shares SSW PR E Series E preferred shares SSWN 2019 senior unsecured notes
Forward-Looking Statements
The statements in this press release that are not historical facts may be forward-looking statements, including statements about future vessel deliveries. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. These risks and uncertainties include, among others, those discussed in Seaspan's public filings with the U.S. Securities and Exchange Commission. Seaspan undertakes no obligation to revise or update any forward-looking statements unless required to do so under the securities laws.
Contacts:
Seaspan Corporation - Investor Relations Inquiries:
Mr. Sai W. Chu
Chief Financial Officer
Tel. 604-638-2575
www.seaspancorp.com
The IGB Group - Media Inquiries:
Mr. Leon Berman
Tel. 212-477-8438
