Seaspan posts $8.9 million 3rd quarter profit

Seaspan posts $8.9 million 3rd quarter profit    Non-operating vessel owner Seaspan Corp. reported net earnings of $8.9 million in the third quarter on revenue of $30.1 million.
   “The quarter was another successful one for Seaspan,” said Gerry Wang, Seaspan’s chief executive officer. “During the quarter, we took early delivery of another vessel in our initial contracted fleet of 23 vessels, bringing the total number of Seaspan vessels in operation to 17. In addition, we continued to execute on our growth strategy by ordering four 5,100-TEU vessels that will be chartered to Mitsui O.S.K. Lines Ltd. of Japan.
   “This acquisition further diversifies our customer base and we anticipate it will add incremental cash flows for distribution to our shareholders once the new ships are delivered and operating. Our contracted fleet has now grown to 37 vessels, a 60.9 percent increase in the number of vessels since our initial public offering in August 2005,” Wang said.