Seaspan Corp is expanding its massive containership newbuilding programme with an order for six more neo-panamaxes.
The shipowner's parent company, New York-listed Atlas Corp, announced that an unnamed shipyard will build the 15,000-teu scrubber-fitted vessels, which will be delivered in the first and second quarters of 2024.
They will be financed from additional borrowings as well as cash on hand and will, on delivery, begin long-term charters with a leading liner company.
Busy spell
The latest deal leaves Seaspan with a backlog of 45 newbuilding orders: 43 neo-panamaxes of between 12,000 teu and 15,500 teu, plus two 24,000-teu ultra-large containerships.
It comes after it announced last Wednesday an order with an unnamed yard for two 12,000-teu vessels for delivery in the fourth quarter of next year.
Chief executive Bing Chen said the latest six-ship order highlighted his company’s “ability to implement solutions to our customer's changing requirements”.
The company is aggressively expanding its fleet in the busiest container shipping market in a generation.
Last week, Seaspan unveiled that it had forward-fixed charters on 17 boxships with China’s Cosco Shipping Lines.
Charters on vessels with an average size of around 7,000 teu will be extended for a further three years.
The company already has 129 operational vessels, according to shipbroker Clarksons.
Seaspan's newbuilding tally is likely to be even bigger than publicly disclosed.
Earlier in June, TradeWinds reported that the owner had strengthened its relationship with China State Shipbuilding Corp (CSSC) by pencilling in a $1.52bn newbuilding order.
If confirmed, and excluding the latest eight orders, this deal would take Seaspan’s total orderbook to 69 boxships worth $6.36bn, with up to 32 vessels worth $2.9bn contracted at state-owned CSSC alone.
The tonnage supplier is said to be contracting three shipyards under the CSSC umbrella to construct 20 neo-panamax boxships.
Shipbuilding sources said Seaspan has signed a letter of intent with Dalian Shipbuilding Industry Co for seven 7,000-teu newbuildings for delivery in 2023.
Shanghai Waigaoqiao Shipbuilding and CSSC Guangzhou Huangpu Wenchong Shipyard are being tipped to share the remaining 13 vessels.
