Seaspan sees earnings rise

Seaspan sees earnings rise    New York-listed non-operating vessel owner Seaspan Corp. on Wednesday reported second quarter net income of $33.5 million, up 296.8 percent from $8.45 million in the same period last year.
   Seaspan’s quarterly revenue was up 75.6 percent to $48.9 million, from $27.8 million a year ago.
   After six months, Seapan recorded net income of $48.2 million, up 178.8 percent, while its revenue gained 71.2 percent to $90.1 million.
   “Our strong performance during the second quarter reflects the continued execution of Seaspan’s growth strategy,” said Gerry Wang, Seaspan’s chief executive officer. “Specifically, we continue to take early delivery of vessels while further expanding both our contracted fleet and secured revenue and EBITDA stream.
   “Going forward, we believe our financial position bodes well for Seaspan to continue to execute the company’s strategy aimed at taking advantage of the favorable industry fundamentals and solidifying our leadership position in the containership industry,” he said.