Seaspan charters newbuilding delivered in 2008 to CSCL Asia

[2008-12-23 16:54:51]

15 Dec 2008

SEASPAN Corporation has taken delivery of its sixth new containership this year, a 2,500-TEU newbuild from Jiangsu Yangzijiang Shipbuilding.

This expands Vancouver-Hong Kong-Marshall Islands-based Seaspan's fleet to 35 vessels with 33 remaining newbuildings to be delivered over the next three years.

The company's latest newbuilding, the CSCL San Jose, has been chartered to China Shipping Container Lines (Asia) Co over a 12-year period.

Under the terms of the fixed-rate time charter, CSCL Asia is responsible for fuel costs and all cargo operating and related expenses, a Seaspan statement said.

Said Seapan CEO Gerry Wang: "Seaspan continues to grow its revenue stream with the delivery of the CSCL San Jose. Nearly 90 per cent of our total revenues are generated from major state-controlled Chinese liner companies and leading Japanese operators and we continue to receive charter payments on schedule. In addition, we have no revenue contract renewals until 2011 at the earliest," he said.

"Over the longer term we believe that demand in the industry will continue to grow at a healthy rate to support globalisation. We also believe that Seaspan's business model is well-positioned to take advantage of this growing demand in the industry over the long term."

Source: 航运在线

Keywords:World shipping

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