Seaspan to charter five more 14,000 teu ships to Yang Ming

Seaspan on Tuesday announced that the five 14,000 teu container ships which the company ordered in late July at Hyundai Heavy Industries, will be chartered out to Yang Ming.

The Vancouver and Hong Kong based non operating owner said it recently signed long-term, fixed-rate time charter contracts with the Taiwanese carrier for all five ships.

Seaspan ordered the vessels for a unit price of USD 107 to 110 million, which translates into a per teu slot price of USD 7,643 to USD 7,857. The newbuildings are slated for delivery in the second half of 2015.

The five ships add to five similar vessels that Seaspan ordered in January, also for long-term charters to Yang Ming. Seapan paid a total of USD 600 million for these ships: USD 120 million per unit or USD 8,571 per teu slot. Compared to the initial five ships, Seaspan was thus able to obtain a notable discount from Hyundai.

Seaspan also announced that it entered negotiations with Taiwan’s CSBC Shipyard to order another five ships of 14,000 teu. Scheduled for delivery in 2016, these ships are also earmarked for Yang Ming.

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