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
A Running Take-Out for Seaspan Cutlass
A steel boat can continue to serve for many years if properly maintained. Seaspan Marine is the largest towing company on the British Columbia coast. Utilizing the services of their sister companies Vancouver Drydock, Vancouver Shipyard and Victoria Shipyards, they do much of their own repair and maintenance work. The upgrade and maintenance of the 25.24 by 7.56-meter (82.8 x 24.8) Seaspan Cutlass was done at Seaspan’s Vancouver Shipyard…
Seaspan Accepts Delivery of 4,600-TEU Containership
Seaspan Corporation has announced that it accepted delivery of a 4,600-TEU containership, the MOL Efficiency. The containership was constructed by Mitsubishi Heavy Industries Ltd.
Seaspan Mark NAOSH Week with Walter Gretzky
During North American Occupational Health and Safety (NAOSH) week Seaspan welcomed Walter Gretzky on a tour of its Vancouver Shipyards. For those not in the know, Walter Gretzky, is a Canadian who is best known as the father of NHL legend Wayne Gretzky, but also for his dedication to helping many local, provincial, and national charities. With North American Occupational Health and Safety (NAOSH) week well underway across the continent…
STX Wins Seaspan Ferry Design Contract
STX Marine (STXM) has been awarded the contract for the engineering package for Seaspan Ferry Corporation’s fleet replacement program. The completed concept design will form part of a bid package…
ChartCo Fits SeaSpan with Navigation Software
ChartCo announced that SeaSpan Corporation, an independant owner of container ships, has placed an order with ChartCo to fit its navigation data management system across the entire fleet. ChartCo will install its full software suite, including PassageManager, and supplying paper and electronic chart updates to each vessel. PassageManager allows ChartCo subscriber to plot routes, attach navigational products to those routes and then produce comprehensive passage plans combining products…
Seaspan Ferries to Install AMP at Swartz Bay Terminal
Seaspan Ferries Corporation's installation of shore electrical power (also known as AMP) to receive Government of Canada funding. Shore power is a highly effective…
Seaspan to Roll Out GL HullManager
Seaspan Ship Management Ltd. (Vancouver) one of the leading container vessel managers, has chosen Germanischer Lloyd's (GL) GL HullManager system to upgrade its in-house hull integrity management system. The condition-based monitoring software will be implemented across Seaspan's entire fleet of 76 vessels over the next several years. explained Peter Jackson, Director of the Projects and Technology Department at Seaspan Ship Management Ltd.
Canada's Seaspan Confident NSPS On-Track
Seaspan CEO addresses concerns raised by the Parliamentary Budget Officer about the National Shipbuilding Procurement Strategy (NSPS). (Seaspan affiliate companies include Vancouver Drydock…
Seaspan on Container Ship Buying Spree
Seaspan Corporation orders 4 newbuild 10,000 TEU container ships and, buys 4 second-hand 4,600 TEU ones. Seaspan has signed contracts for the construction of four 10…
Seaspan Signs Newbuilding Contracts
Seaspan Corporation (NYSE:SSW) has announced that it has signed contracts for the construction of five 14,000 TEU class newbuilding containerships at Hyundai Heavy Industries Co., Ltd.
Korean Shipyard Wins US$600-million Seaspan Order
Hyundai Heavy Industries (HHI) wins the order for five 14,000 TEU container ships, with a contract option for 5 more. The ultra-large container ships, measuring 368 m in length, 51 m in width, and 30 m in depth, are scheduled to be delivered from 2015. Upon delivery, the vessels will be charted by Seaspan Corp. to the Taiwan’s Yang Ming Marine Transport Corp on a long-term contract. The container ships will feature an electronically-controlled main engine and HiBallast seawater treatment system.
Seaspan Chooses CleanBallast
CleanBallast bolsters world’s most efficient container vessels. North America's leading containership owner Seaspan, with a fleet serving customers in Asia, Europe and South America, caused quite a stir when it showcased its revolutionary SAVER (Seaspan Action on Vessel Energy Reduction) design of 10,000 TEU container vessels. Pursuing the aim of top-efficiency ship operation and improved operational performances…
Seaspan Breaks Ground on $200m Shipyard Modernization Project
A groundbreaking ceremony today at Vancouver Shipyards, in North Vancouver marks a significant milestone in the re-development of the shipyard into a world-class facility that will build a new generation of vessels for the Canadian Coast Guard and Royal Canadian Navy. Construction will result in the completion of four new fabrication buildings, a shipbuilding gantry crane and a load-out pier. Seaspan…
Seaspan Preps for $8B Contract
Seaspan is an association of Canadian companies primarily involved in coastal and deep sea transportation, bunkering, ship docking/ship escort, ship repair and shipbuilding services in Western North America. Seaspan’s three shipyards are located in Vancouver and Victoria, British Columbia (BC), Canada. Seaspan has served a variety of customers, including the Canadian Navy and Coast Guard, with construction…
Seaspan Selects IFS Applications to Support $8B Navy Deal
IFS North America said that Seaspan has selected IFS Applications as its Shipbuilding materials requirements planning (MRP) solution. IFS Applications was chosen because it provides a powerful project-based solution (PBS) with the ability to control cost and schedule in real-time, enhancing Seaspan’s ability to efficiently meet customer requirements. This capability will help Seaspan deliver on the…
Seaspan Signs Contract with STX Offshore & Shipbuilding
Seaspan Marine entered into a technology support agreement with STX Offshore and Shipbuilding Company Ltd. This partnership will optimize Vancouver Shipyard’s planned…
Seaspan Launches Supplier Self-Registration Portal
Seaspan Marine Corporation is pleased to announce the launch of its Supplier Self-Registration Portal. The multi-year shipbuilding program that Seaspan is undertaking…
Seaspan Welcomes Brian Carter
Brian Carter is joining Seaspan Shipyards as President, assuming this role full-time beginning January 9, 2012. In this role, Brian is responsible for delivering the long-term strategic plans of Seaspan’s three shipyard operations (Vancouver Drydock, Vancouver Shipyards and Victoria Shipyards). In addition to working with Seaspan’s senior management team at both the corporate and shipyard level, one…
STXM Supports Seaspan NSPS Proposal
STX Canada Marine would like to congratulate Seaspan Vancouver Shipyards on the award of the contract for the Canadian National Shipbuilding Procurement Strategy (NSPS) for non-combat vessels. As a First Tier partner, STX Canada Marine (STXM) is proud to have supported the Seaspan Team in the development of the NSPS proposal and looks forward to a long-term relationship with them and being a part of the revitalization of Canadian shipbuilding on the West Coast.
ShipConstructor Congratulates Seaspan & Irving
ShipConstructor Software Inc. (SSI) congratulates Seaspan and Irving on being awarded contracts under the Canadian Government’s National Shipbuilding Procurement strategy.
