Seaspan Acquires 4th 10000 TEU SAVER Containership

By Joseph R. Fonseca July 16, 2014

Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of a 10000 TEU containership, the MOL Bravo.

The new containership, which was constructed at Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd. using Seaspan's fuel-efficient SAVER design, is Seaspan's fourth of five 10000 TEU SAVER design containerships scheduled for delivery in 2014.

The MOL Bravo will commence an eight-year, fixed-rate time charter with Mitsui O.S.K. Lines Ltd. ("MOL"). The ship is the first of a total of five 10000 TEU SAVER design vessels, and the seventh of a total of eleven vessels, to be chartered by Seaspan to MOL. The delivery of the MOL Bravo expands the Company's operating fleet to 75 vessels.