Seaspan acquires two 11,000-TEU newbuilding vessels

The independent containership owner and manager purchased the vessels for $195.6 million.    Seaspan, a large owner of containerships that charters vessels to liner companies, has acquired two newbuilding vessels from Greater China Intermodal Investments LLC for $195.6 million.
   The 11,000-TEU vessels will commence 17-year bareboat charters with liner carrier MSC, collectively producing annual cash receipts of around $17.7 million in the first full year of operation.
   MSC will be required to purchase the vessels at the end of their respective charters.
   Seaspan will assume about $88.1 million in remaining installments under the shipbuilding contracts for these vessels as partial consideration for the purchase price.
   These two vessels are sister ships to the three vessels Seaspan has scheduled for delivery in 2017, which will also be chartered to MSC.
   Overall, Seaspan’s managed fleet consists of 118 containerships, including 14 newbuilding containerships on order. The company’s current operating fleet consists of 89 vessels.