Seaspan Corporation announced Friday that it has entered into an agreement to order up to 10  dual-fuel liquefied natural gas (LNG) containerships from an unamend shipyard.

Seaspan, a wholly owned subsidiary of Atlas Corp., said the deal is for five ultra-modern 15,000 TEU newbuilds, with an option for an additional five vessels of the same build. The containerships are scheduled for delivery from first half of 2023 onward, and upon completion will enter 12-year charters with a global liner.

Bing Chen, Chairman, president and CEO of the Hong Kong-based shipowner, said the order signifies Seaspan’s first LNG-powered investment, ordered to facilitate facilitate its customer’s environmental initiative.

“We are expanding the scope of our customer solutions by elevating our focus on lowering the impact of emissions, which will result from the adoption and addition of LNG-powered vessels to our fleet,” Chen said.

The containerships will be financed by cash on hand and from additional borrowings, Seaspan said.

“As we have executed sustainability-linked financing which parallels this fleet expansion, we are resolved to contribute to a greener business community in the future,” Chen said. “These transactions clearly demonstrate our ability to seize opportunities to develop industry-leading customer solutions and our commitment for quality growth backed by long-term committed partnerships.”

Since December 2020, Seaspan has announced orders for 17 newbuilds, including five 12,200 TEU vessels, two 24,000 TEU vessels and today’s order of 10 LNG dual-fuel 15,000 TEU vessels, which will add capacity of 259,000 TEU to the fleet.

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