Seaspan Corporation has taken delivery of its 30th vessel, the 2,500-TEU CSCL Panama, a newbuilding from by Jiangsu Yangzijiang Shipbuilding that is the first in a series of eight similar-sized ships.
The CSCL Panama is subject to a time charter with China Shipping Container Lines (Asia) for a 12 year period, a report by CNN Money said.
Gerry Wang, chief executive officer of Seaspan, said in a company release: "With the delivery of the CSCL Panama, we have further diversified our high-quality vessel portfolio and strengthened our fixed revenue and cash flow streams. We are continuing to execute our growth strategy and we remain on track to take delivery of 38 remaining newbuildings over the next three years, including five additional vessels in 2008."
Seaspan owns containerships and charters them pursuant to long-term fixed-rate charters. Seaspan's fleet of 68 containerships consists of 30 existing containerships and 38 to be delivered over three years.
The 38 vessels that Seaspan has contracted to purchase are already committed to long-term time charters averaging approximately 11 years in duration from delivery. Seaspan's customer base comprises CSCL, AP Moller-Maersk, MOL, Hapag-Lloyd, Coscon, "K" Line and CSAV.
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