Seaspan Accepts Containership Delivery

Seaspan Corporation announced that it accepted delivery of a 10,000 TEU containership, the Hanjin Buddha, which was constructed using Seaspan's fuel-efficient SAVER design. The new containership, which was constructed by Jiangsu New Yangzi Shipbuilding Co., Ltd., is Seaspan's first SAVER design vessel in the company's operating fleet.

The Hanjin Buddha will commence a ten-year, fixed-rate time charter with Hanjin Shipping Co. Ltd. The ship is the first of a total of three vessels to be chartered by Seaspan to Hanjin, and expands Seaspan's operating fleet to 72 vessels.

Gerry Wang, Chief Executive Officer, Co-Chairman and Co-Founder of Seaspan, commented, "The delivery of the Hanjin Buddha is an important milestone for our Company, as it marks the first SAVER design containership in our fleet and the first Seaspan vessel to be chartered to Hanjin. We look forward to adding another four 10000 TEU SAVER design vessels to our operating fleet during 2014, two of which will be chartered to Hanjin. We continue to see strong interest from liner companies in our SAVER design and are committed to expanding our fleet and providing leading liner companies with state-of-the-art, fuel efficient containerships."