Seaspan Corp. Signs Contract to Build Four New 5100 TEU Vessels at Hyundai Heavy Industries

Seaspan Corporation announced that it has signed contracts to build four 5100 TEU vessels at Hyundai Heavy Industries Co., Ltd. in South Korea. The four vessels will be delivered between April and December 2009. The total delivered cost is expected to average approximately $83.4 million per vessel. Seaspan also announced that it has arranged simultaneous twelve-year charter agreements for these four vessels with Mitsui O.S.K. Lines, Ltd. of Japan. Seaspan, with its organizational head office in Vancouver, owns containerships and charters them pursuant to long-term fixed-rate charters.