Seaspan to charter more 2,500-TEU ships to China Shipping

Seaspan to charter more 2,500-TEU ships to China Shipping    Seaspan Corp. will charter another four 2,500-TEU vessels to China Shipping Container Lines after the Canadian non-operating vessel charter owner exercised options from a previous deal with Jiangsu Yangzijiang Shipbuilding.
   In February, Seaspan signed a contract with the Chinese shipyard for an initial four 2,500-TEU ships with options for eight more at a cost of about $44.7 million per ship. The confirmed ships are to be delivered by August 2009. Seaspan said it will only consider the second tranch of four vessels if “acceptable long-term charters were arranged.” Seaspan has until Sept. 30 to exercise this final option.
   China Shipping will charter the firm eight ships for 12 years at an initial rate of $16,750 per day, increasing to $16,900 per day after six years.
   Seaspan owns a fleet of 16 containerships comprising 14 4,250-TEU vessels and two 8,500-TEU vessels. Over the next 18 months, Seaspan will add to its fleet six 4,250-TEU vessels, two 9,600-TEU vessels, two 3,500-TEU vessels, and at least another eight 2,500-TEU ships.