Seaspan Corporation
Seaspan Corporation is one of the leading independent owners and operators of containerships. It was founded in 1999 and is headquartered in Hong Kong, although its operational offices are located in Vancouver, Canada. The company provides vessels on long-term charters to major container shipping lines around the world.
Primary Business Model
Seaspan's business model revolves around the acquisition, management, and chartering of containerships. The company typically charters its vessels on a long-term basis (often 5 to 12 years) to shipping lines, providing stable and predictable cash flows.
Fleet
As of my knowledge cutoff date in 2021, Seaspan has a diversified and modern fleet, which includes a range of container ship sizes from smaller feeder vessels to some of the largest ultra-large container ships (ULCVs). The company has been focusing on expanding its fleet through new builds as well as acquisitions of existing vessels.
Key Customers
Seaspan's customer base includes some of the world's largest shipping lines, such as Maersk, MSC, COSCO, CMA CGM, and Hapag-Lloyd. These long-term relationships are a testament to Seaspan's reliability and quality of service.
Financials & Ownership
Seaspan Corporation was publicly traded, listed on the New York Stock Exchange (NYSE) under the ticker symbol "SSW." However, it is essential to note that financial conditions and ownership structures can change, and it might not be reflective of the current status.
Parent Company
In 2018, Seaspan Corporation became a part of the Atlas Corp. (NYSE: ATCO), which aims to be a global asset manager and operator focused on the maritime, energy, and infrastructure sectors. This merger allowed Seaspan to leverage Atlas Corp's broader financial capabilities and strategic vision.
Sustainable Practices
In recent years, Seaspan has been increasingly focused on sustainability and environmentally friendly practices, including the adoption of more fuel-efficient ships and compliance with international maritime regulations concerning emissions.
Recent Developments
As of my last update, there might have been new developments, acquisitions, or strategic decisions taken by Seaspan Corporation, so it would be prudent to consult the latest news releases, financial statements, and industry reports for the most current information.
Overall, Seaspan Corporation plays a crucial role in the global shipping industry, delivering reliable and cost-effective solutions to many of the world's foremost container shipping lines.
Locations
Seaspan News
Seaspan Appoints Bing Chen As Chief Executive Officer
Seaspan Corporation announced that Bing Chen will be joining the Company as its Chief Executive Officer (CEO), and appointed to the Board of Directors in January, 2018.
Seaspan Takes Delivery of 11,000 TEU Containership
Seaspan Corporation said it has accepted delivery of the MSC Shuba B, an 11,000 TEU containership that will commence a 17-year fixed-rate bareboat charter with Mediterranean Shipping Company S.A.
Seaspan Enlists DNV GL for EU-MRV Verification
Seaspan Corporation enlists help from DNV GL as a partner for EU-Monitoring, Reporting and Verification (MRV) of their entire fleet. EU-MRV regulation aims to quantify…
Seaspan CEO Gerry Wang to Retire
Seaspan Corporation announced that Gerry Wang, its Chief Executive Officer, Co-Chairman and Co-Founder, will retire from Seaspan effective December 31, 2017 to focus…
Seaspan Names Hale Chief Administrative Officer
Seaspan ULC (Seaspan) has appointed Brent Hale as Chief Administrative Officer (CAO). Brent joined Seaspan in June 2015 as Vice President - Human Resources (HR). In this capacity Brent led the strategic reorganization of HR at Seaspan - implementing new HR and Labor Relations initiatives that facilitated rapid growth across the enterprise while significantly improving quality and efficiency. In his new role as CAO…
Seaspan Installs BWTS on Louis Dreyfus Cable Layer
Following five weeks of repair and installation activities, Seaspan’s Vancouver Drydock (VDC) has completed its refit activities on Louis Dreyfus’ Ile de Batz Special Purpose/Cable Layer vessel.
Seaspan Commissions New Hybrid Ferries
Seaspan Ferries Corporation (SFC) has welcomed two new dual-fueled/hybrid liquefied natural gas (LNG), diesel and battery vessels to its fleet during a double commissioning…
Seaspan Makes Leadership Moves
Steve Roth has been promoted to President of Seaspan Ferries Corporation (SFC). In this position, Steve will continue to have the primary accountability for the overall performance of the SFC business unit, including management of day-to-day operations of SFC, as well as the short and long-term strategic planning processes, including setting and fulfilling revenue and profitability targets and maintaining relationships with all stakeholders.
Innovative Seaspan Ferry Enters Service
Seaspan Ferries Corporation’s (SFC) Seaspan Swift, a new hybrid LNG fueled and battery powered ferry, entered service between the British Columbia mainland and Vancouver Island. The innovative vessels is classed by Bureau Veritas, and it is reported to be the first hybrid LNG fuelled and battery powered vessel in service and the first LNG fuelled vessel operating on the west coast of Canada. Additionally, the on-board bunkering of LNG from a truck trailer is a first in North America.
Seaspan Marine Names Hilder Marine Operations VP
Seaspan announced the appointment of Paul Hilder to Vice President, Marine Operations. As a member of Seaspan’s senior leadership team, Hilder will oversee the operational efficiency and safety of the company’s vessels and marine crews. Working in collaboration with Port Captains, Dispatch and the Regulatory & Compliance departments, Hilder will also oversee and monitor ongoing operational and training issues in order to reduce potential risks and liabilities to the company.
Seaspan Ferries' First LNG-fueled Vessel Arrives
Seaspan Ferries Corporation (SFC) announced the arrival of the Seaspan Swift, the first of two new dual-fuelled/hybrid diesel, liquefied natural gas (LNG) and battery ferries to its fleet. The new state-of-the-art vessel, currently docked at the SFC Tilbury Terminal in Delta, arrived after an eight-week journey that spanned a total of 10,661 nautical miles following its construction at Sedef Shipyard in Istanbul, Turkey.
Seaspan Names Lister VP, Commercial Services
Peter Lister has joined the senior leadership team at Seaspan Marine as Vice President, Commercial Services, responsible for marketing, sales and customer relations. He will develop and build marketing strategies, customer service quality control measures, customer service standards and account management processes. Lister brings to the role more than 20 years of experience as a research and innovation leader in the forestry sector.
Seaspan Declares Q3 Results
Seaspan Corporation announced its financial results for the three and nine months ended September 30, 2016. Revenue edged up thanks to new additions to its fleet…
Seaspan CEO: Hanjin Fallout Is Like Lehman for Shipping
Seaspan Corp chairman and ceo Gerry Wang has described the bankruptcy of South Korea’s biggest container line Hanjin Shipping Co as the industry’s equivalent of…
Seaspan Starts Fixed-rate Charter with Maersk Line
Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of a 10000 TEU containership, the Maersk Genoa. The new containership, which was constructed…
Seaspan Hosts Atlantic Canada Industry Day
More than 100 people representing over 70 companies attended Seaspan Shipyards’ second annual Atlantic Canada Industry Day hosted in Halifax today. During the session…
Seaspan Rejects Hanjin’s Proposal on Charter Rate
The container ship-leasing company Seaspan Corp declined Hanjin Shipping Co.’s request for a cut in charter rates by about 30 percent, dealing a blow to efforts…
Seaspan Acquires Eighth 14000 TEU Vessel
Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of a 14000 TEU containership, the YM Width. The new containership, which was constructed at CSBC Corporation…
Seaspan Responds to Canada’s NSS Announcement
In response to the Government of Canada’s announcement of a series of enhancements to strengthen the National Shipbuilding Strategy, Seaspan Shipyards’ president Brian Carter issued a statement commending the government’s efforts and reinforcing the shipbuilder’s role in producing ships for the Canadian Coast Guard and Royal Canadian Navy. “We are pleased to receive the Government of Canada’s support for the National Shipbuilding Strategy…
Seaspan Secures $540 Mi Financing
HONG KONG, CHINA--(Marketwired - May 18, 2016) - Seaspan Corporation ("Seaspan") (NYSE:SSW) announced today that it has entered into over $540 million of debt and equity financings.
