Seaspan confirms order for five 14,000 TEU boxships

Seaspan has confirmed its order for five 14,000 TEU containerships at Taiwanese shipyard CSBC that will be chartered to Yang Ming.

The vessels are scheduled for delivery in 2016, will cost a total of $550m, and will be chartered to Yang Ming on a minimum time charter term of six years. Seaspan will fund construction of the vessels partly through proceeds from a recent share offering and with debt financing.

Seaspan now has 15 vessels with a 14,000 TEU capacity on order that will be chartered to Yang Ming. The other 10 vessels will be delivered in 2015 and will cost $107m-$110m each.

It is understood the first 10 vessels have been fixed on 10-year contracts at a daily rate of $46,500-$46,800. News of the charter deal was first reported on August 13. However, at the time Seaspan had not completed the vessel order or charter deal and had only entered into commitments. < Korea Shipping Gazette >