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Seaspan snaps up boxship newbuild resale

Seaspan snaps up boxship newbuild resale

China: Seaspan Corp has acquired a boxship newbuilding resale from a Chinese yard. The container ship owner said it purchased and taken delivery of a 4,250 teu newbuilding for $43m from Zhejiang Shipbuilding. Seaspan is chartering the vessel to United Arab Shipping Co for a two-year period commencing between July 1, 2010 and July 15, 2010 at a rate in excess of $20,000 per day. Seaspan said it funded the purchase of the vessel with existing credit facilities and with equity raised from the sale of $26m of Series B non-convertible perpetual preferred shares issued to Jaccar Holdings Limited, an investor related to Zhejiang Shipbuilding. [04/06/10]

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