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Taiwanese shipbuilder wins order for 5 14,000TEU vessels

2013-08-26 09:00

Seaspan Corp, a Canadian shipowner listed on the New York Stock Exchange, announced on the 23rd that it has officially signed a contract with Taiwan International Shipbuilding Corporation for the construction of five 14,000 TEU container ships. The total contract value is approximately US\$550 million, with delivery scheduled for 2016.

Seaspan also announced that it has signed a long-term charter contract with Yang Ming Marine Transport Corporation for the five container ships under this construction contract, with unchanged freight rates.

These 14,000 TEU container ships will utilize Seaspan's fuel-efficient "SAVER" design.

Seaspan stated that the required funding for this construction project will be met through a combination of funds raised from the issuance of initial shares, bank loans, and bond issuances.

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