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Seaspan H1 profits jump 170%

Article-Seaspan H1 profits jump 170%

Seaspan H1 profits jump 170%
Containership owner Seaspan Corp reported a 170% jump in net earnings the first half of 2015.

Seaspan made a net profit of $102.7m in the first half of this year, compared to $38m in the same period a year ago. Revenues were 13.4% in the first half of 2015 at $387.7m. Second quarter net earnings 306.7% to $81.3m, compared to $20m in the same period a year earlier.

"During the second quarter, we continued to benefit from our growing fleet of large state-of-the-art containerships, increasing adjusted EBITDA and cash available for distribution to shareholders,” commented Gerry Wang, ceo and co-chairman of Seaspan.

The company currently has 82 containerships in operation and 23 newbuildings on order.

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