Containership owner and operator Seaspan Corporation, part of Atlas Corp. has revealed a new order encompassing ten 7,000 TEU dual-fuel LNG containerships.
Seaspan said today it will enter into agreements with an unnamed shipyard to construct the LNG boxship fleet.
Also on 6 July, Seaspan and Israeli shipping company ZIM Integrated Shipping Services sealed a strategic agreement for the long-term charter of the ten containerships to serve across ZIM’s various global-niche trades.
Upon their deliveries scheduled to begin in Q4 2023 and continue through 2024, the newbuilds will commence their charters.
The LNG containerships are anticipated to be financed from existing liquidity, cash flow from operations, and additional borrowings, according to Seaspan.
“We see these … 7,000 TEUs to be the natural successor to the aging global pool of conventional vessels in the 4,000 to 9,000 TEU range, where relatively little fleet renewal has taken place. We are experiencing strong customer interest for this vessel size,” Bing Chen, Chairman, President and CEO of Seaspan, commented.
“In line with all of our vessel investments, we have de-risked the $1.05 billion capital expenditure associated with the dual-fuel LNG containerships by signing long-term charters with a leading global liner representing approximately $1.8 billion of contracted cash flow,” Graham Talbot, CFO of Seaspan, explained.
Since December 2020, and including this announcement, Seaspan has unveiled 55 newbuild vessel orders and the acquisition of four second-hand vessels, all four of which have since been delivered.
In February 2021, Seaspan and ZIM inked an initial long-term charter agreement for ten 15,000 TEU LNG-fueled boxships.
Source: World Maritime News