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Seaspan enters agreement to buy four Panamax vessels

The independent containership owner and manager agreed to pay $5.2 million for each of the four 4,275-TEU containerships.

   Seaspan has entered into an agreement to purchase four Panamax vessels for $5.2 million each, the independent containership owner and manager said.
   The containerships, which Seaspan expects to take delivery of during the first quarter of 2016, are sister ships to vessels currently in Seaspan’s fleet and include a 2008-built 4,275-TEU vessel and three 2009-built 4,275-TEU vessels constructed by Samsung Heavy Industries Co., Ltd.
   The vessels are expected to be initially employed in the short-term charter market.
   Gerry Wang, the chief executive officer, co-chairman and co-founder of Seaspan, commented, “The purchase of these vessels represents a compelling opportunity. We purchased modern assets at a price equivalent to steel value from a leading financial institution, further strengthening our banking relationships and modernizing our fleet. Seaspan will continue to seek opportunities to position the company for a market recovery.”
   Maritime news outlet Splash 24/7 reported last week that the ships were formerly part of the Hanjin Shipping fleet, but that could not immediately be confirmed.

Chris Dupin

Chris Dupin has written about trade and transportation and other business subjects for a variety of publications before joining American Shipper and Freightwaves.