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Seaspan Accepts Delivery of 4600 TEU Containership

Jun 13 2013 12:00AM

Marketwire

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HONG KONG, CHINA -- (Marketwired) -- 06/13/13 -- Seaspan Corporation (NYSE: SSW) announced today that it accepted delivery of a 4600 TEU containership, the MOL Excellence. The containership was constructed by Mitsubishi Heavy Industries Ltd. in 2003 and expands the Company's operating fleet to 70 vessels.

The MOL Excellence is on charter to Mitsui O.S.K. Lines Ltd. ("MOL") under a two-year, fixed-rate time charter. The ship is the fifth of a total of eight vessels to be chartered by Seaspan to MOL.

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 including turnkey services in ship design, cadet development, crewing, and newbuilding supervision with a reputation for safety, quality and innovation. Seaspan's managed fleet consists of 89 containerships representing a total capacity of over 600,000 TEU, including 16 newbuild containerships on order scheduled for delivery by the end of 2015. Seaspan's current operating fleet of 70 vessels has an average age of approximately six years and an average remaining lease period of approximately six years. Seaspan's common shares, Series C Preferred Shares and Series D Preferred Shares are listed on The New York Stock Exchange under the symbols "SSW", "SSW PR C" and "SSW PR D", respectively.

STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. These risks and uncertainties include, among others, those discussed in Seaspan's public filings with the U.S. Securities and Exchange Commission. Seaspan undertakes no obligation to revise or update any forward-looking statements unless required to do so under the securities laws.



Contacts:
Seaspan Corporation - Investor Relations Inquiries
Mr. Sai W. Chu
Chief Financial Officer
604-638-2575

The IGB Group
Mr. Leon Berman
212-477-8438





Source: Marketwire


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