Seaspan Accepts Delivery of 11000 TEU SAVER Containership

HONG KONG, China, Sept. 20, 2017 /CNW/ - Seaspan Corporation (NYSE:SSW) announced today that it has accepted delivery of the MSC Shreya B, an 11000 TEU containership that will commence a bareboat charter with MSC Mediterranean Shipping Company S.A. ("MSC") for a period of seventeen years. Upon completion of the bareboat charter period, MSC is obligated to purchase the vessel for a pre-determined amount.

The MSC Shreya B, which was constructed at HHIC-PHIL INC., is Seaspan's second 11000 TEU SAVER design containership in a series of five ships under bareboat charter to MSC. This is Seaspan's third vessel delivery in 2017 and expands Seaspan's operating fleet to 87 vessels.

About Seaspan

Seaspan provides many of the world's major shipping lines with creative outsourcing alternatives to vessel ownership by offering long-term leases on large, modern containerships combined with industry leading ship management services. Excluding the four 4250 TEU class vessels which are being sold, Seaspan's managed fleet consists of 110 containerships representing a total capacity of approximately 900,000 TEU, including 7 newbuilding containerships on order scheduled for delivery to Seaspan and third parties by the end of 2018. Seaspan's current operating fleet of 87 vessels has an average age of approximately six years and average remaining lease period of approximately five years, on a TEU weighted basis.

Seaspan has the following securities listed on The New York Stock Exchange:

Symbol:	Description:
SSW	Class A common shares
SSW PR D	Series D preferred shares
SSW PR E	Series E preferred shares
SSW PR G	Series G preferred shares
SSW PR H	Series H preferred shares
SSWN	6.375% senior unsecured notes due 2019

 

For Investor Relations Inquiries:

Mr. David Spivak
Chief Financial Officer
Seaspan Corporation
Tel. [phone]

Mr. Michael Sieffert
Director, Corporate Finance
Seaspan Corporation
Tel. [phone]

For Media Inquiries:

Mr. Leon Berman
The IGB Group
Tel. [phone]

SOURCE Seaspan Corporation

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