Seaspan signs ‘commitment’ to order five 14,000 teu ships at CSBC

The Vancouver and Hong Kong based non operating owner Seaspan, which this week firmed up long-term charter deals for five Hyundai-built 14,000 teu ships with Yang Ming, said it planned to order another five vessels of similar design at CSBC Taiwan – also for Yang Ming.

Seaspan on Tuesday confirmed that it had entered into ‘commitments’ with CSBC Corporation Taiwan to have constructed and to acquire the five containerships for an aggregate purchase price of approximately USD 550 million.

Concurrently with this newbuilding commitment, Seaspan signed a binding letter of intent with Yang Ming to enter into long-term, fixed-rate time charter contracts for these ships. The company disclosed that it expected to complete definitive time charter contracts with Yang Ming and definitive shipbuilding contracts with CSBC shortly.

The vessels are to be built at CSBC’s Kaohsiung shipyard and they are scheduled for delivery in 2016.

Over the course of 2015 and 2016, Yang Ming is thus to receive no fewer than 15 container ships of 14,000 teu from Seaspan.

Yang Ming’s orderbook furthermore includes two 6,250 teu ships from Japan. Built at Imabari’s Koyo Shipyard and chartered from the Imabari Group’s Shoei Kisen, these ships are sisters of the recently delivered YM MOVEMENT.

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