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Seaspan takes delivery of first 13,100 TEU containership


HONG KONG, China — Seaspan Corporation has announced that it accepted delivery of its first 13,100 TEU containership, the COSCO Glory.

 The new containership, which was constructed by Hyundai Heavy Industries Co., Ltd., is Seaspan’s sixth delivery in 2011 and expands the Company’s operating fleet to 61 vessels. The COSCO Glory is on charter to COSCO Container Lines Co., Ltd. (“COSCON”) under a twelve-year, fixed-rate time charter.

The ship is the eleventh of a total of eighteen vessels to be chartered by Seaspan to COSCON.

Gerry Wang, Chief Executive Officer, Co-Chairman and Co-Founder of Seaspan, commented, “We are pleased to achieve this latest milestone, as we take delivery the first of eight 13,100 TEU vessels. The COSCO Glory is the largest vessel in our fleet and a flagship vessel in the COSCON containership fleet. We look forward to taking delivery of the remaining seven vessels in this class and further strengthening our deep relationship with COSCON.”

Seaspan is an independent charter owner of containerships, which it charters primarily pursuant to long-term fixed-rate time charters to major container liner companies. Seaspan’s contracted fleet of 69 containerships consists of 61 containerships in operation and eight containerships scheduled for delivery through March 2012.


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