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Seaspan Announces Delivery of First of Five 12,200 TEU Newbuild Containerships, First of Seventy Newbuilds Announced

Seaspan Corporation (“Seaspan”), a wholly owned subsidiary of Atlas Corp. (“Atlas”) (NYSE: ATCO), today announced that it has accepted delivery of one 12,200 TEU containership, which will immediately begin an 18-year charter with a major liner customer. This vessel is the first of five newbuild containerships in this class.

Bing Chen, Chairman, President and CEO of Seaspan, commented, “This delivery marks a major milestone in Seaspan’s continuing quality growth and unmatched ability to best serve our customers. About two months ahead of the scheduled delivery during a global pandemic is testament to how Seaspan creates value for our customers in a current vessel shortage market. I’m proud of our team’s supreme execution working with the logistical restrictions and our shipyard’s prioritizing of their limited resources to facilitate early delivery of this best-in-class vessel. This further demonstrates the capabilities of our fully integrated platform and resilient business model within the global logistics market.”

Since November 2020, Seaspan has announced investments for 70 newbuild containerships, representing the addition of 839,000 TEU, which will add over $11 billion of gross contracted cash flows and bring the fully delivered fleet to 1,959,200 TEU. The chart below summarizes newbuild vessels which Seaspan has announced but has not yet received delivery of:
Source: Seaspan Corporation

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