Unencumbered vessels now make up nearly one quarter of Seaspan’s containership fleet after it prepaid another credit facility.
The US-listed container leasing company said the facility had been secured by six of its vessels, but did not identify the vessels in question.
However, TradeWinds understand that the six vessels involved comprise four 4,250-teu vessels as well as two 8,500-teu vesels.
“Upon completion of the collateral release documentation, this will expand Seaspan’s pool of unencumbered vessels to 24 vessels,” it said.
The 24 ships include 14 4,250-teu ships, in addition to two each of 2,500-teu, 3,500-teu, 8,500-teu, 9,600-teu and 10,000-teu vessels.
Seaspan chief financial officer said the shipowner continues to add flexibility to its capital structure by de-leveraging and unencumbering vessels.
“We are firmly committed to strengthening the balance sheet as one of the Company's strategic priorities,” he added.
Seaspan’s operating fleet consists of 112 containerships with a total capacity of more than 900,000-teu, an average age of about six years.
