Seaspan commences fixed-rate time charter with Maersk Line

Seaspan Corporation announced that it accepted delivery of a 10000 TEU containership, the Maersk Guayaquil. The new containership, which was constructed at Jiangsu Yangzi Xinfu Shipbuilding, is Seaspan's eighth 10000 TEU SAVER design containership and seventh delivery in 2015.

The Maersk Guayaquil will commence a five-year, fixed-rate time charter with Maersk Line. Maersk may extend the charter with two consecutive one-year options. The ship is the first of a total of two 10000 TEU SAVER design vessels to be chartered by Seaspan to Maersk. The delivery of the Maersk Guayaquil expands the Company's operating fleet to 84 vessels.

Gerry Wang, Chief Executive Officer, Co-Chairman and Co-Founder of Seaspan, commented, "We are pleased to continue to grow Seaspan's operating fleet, as we further execute our stable and predictable business model. With the delivery of the Maersk Guayaquil and the commencement of the vessel's fixed rate time charter, we have further positioned the Company to generate sustainable and visible cash flows for shareholders. We intend to continue pursuing attractive opportunities to grow our fleet and provide leading liner companies with large, state-of-the-art SAVER design containerships, as we build upon our contracted revenue stream of over $6 billion."

Source and Image Credit: Seaspan