Seaspan inks contract for boxship quartet

Seaspan Corporation has signed contracts to build four 4,250 TEU container ships at Jiangsu New Yangzi Shipbuilding in China. These new orders are in addition to the ten 2,500 TEU vessels Seaspan previously ordered from Jiangsu Yangzijiang Shipbuilding, a shipyard affiliated with Jiangsu. The four newbuilding vessels are scheduled to be delivered between March and September, 2009. The total delivered cost is expected to be approximately $66.1 million per vessel, subject to certain pre-delivery expenses remaining at budgeted levels.

Seaspan also announced that it has arranged simultaneous six-year charter agreements for these four vessels with Compania SudAmerica de Vapores SA (“CSAV”) of Chile at a rate of $25,925 per day. Seaspan Management Services will supervise the construction of the new vessels and operate the ships for Seaspan.