Expands Market Leadership with Execution of
Strategic Opportunities
LONDON, June 28, 2021 /CNW/ - Seaspan Corporation
("Seaspan"), a wholly owned subsidiary of Atlas Corp. ("Atlas")
(NYSE: ATCO), today announced that it has entered into an agreement
with a major shipyard for six 15,000 TEU modern newbuild
containerships (the "Vessels") with anticipated deliveries
beginning late in the first quarter and extending through the end
of the second quarter of 2024. The six high-quality 15,000 TEU
containerships will be scrubber-fitted. Upon completion, the
Vessels will enter long-term charters with a leading global liner
customer.
Bing Chen, Chairman, President and CEO of Seaspan, commented,
"Our customers continue to recognize the added value of our
fully-integrated platform. This order further highlights of our
differentiated services, operational excellence, and ability to
implement solutions tailored to our customer's changing
requirements."
The Vessels are anticipated to be financed from additional
borrowings as well as cash on hand. With these vessels Seaspan will
continue to expand its fleet within core strategic size segments.
Since December 2020 and including
this announcement, Seaspan has announced 45 newbuild orders and the
acquisition of four second-hand vessels, two of which have since
been delivered.
|
Newbuilds
|
Secondary
Market
|
Total
Vessels
|
Total
TEU
|
12,000
TEU
|
6
|
-
|
6
|
72,000
|
12,200
TEU
|
5
|
-
|
5
|
61,000
|
15,000
TEU
|
16
|
2
|
18
|
270,000
|
15,000 TEU
LNG
|
10
|
-
|
10
|
150,000
|
15,500
TEU
|
6
|
-
|
6
|
93,000
|
24,000
TEU
|
2
|
-
|
2
|
48,000
|
Total
|
45
|
2
|
47
|
694,000
|
About Atlas
Atlas is a leading global asset management company,
differentiated by its position as a best-in-class owner and
operator with a focus on deploying capital to create sustainable
shareholder value. Atlas brings together an experienced asset
management team with deep operational and capital allocation
experience. We target long-term, risk adjusted returns across
high-quality infrastructure assets in the maritime sector, energy
sector and other infrastructure verticals. Our two portfolio
companies, Seaspan Corporation and APR Energy are unique,
industry-leading operating platforms in the global maritime and
energy spaces, respectively. For more information visit
atlascorporation.com.
About Seaspan
Seaspan is a leading independent owner and operator of
containerships. We charter our vessels primarily pursuant to
long-term, fixed-rate time charters to the world's largest
container shipping liners. At March 31,
2021, Seaspan's fleet consists of 127 containerships
representing total capacity of approximately 1,073,200 TEU. On
May 19, 2021, we announced the
delivery of two second-hand vessels, increasing Seaspan's operating
fleet to 129 vessels and 1,090,200 TEU. With this announcement, we
also have 45 vessels under construction, and have agreed to
purchase two additional second-hand vessels, increasing total
capacity to 1,784,200 TEU, on a fully delivered basis. For more
information visit seaspancorp.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains certain forward-looking statements (as
such term is defined in Section 21E of the Securities Exchange Act
of 1934, as amended) concerning future events, including
forward-looking statements regarding the expected benefits of the
vessel transactions to Atlas's financial condition and results from
operations. Statements that are predictive in nature, that depend
upon or refer to future events or conditions, or that include words
such as "expects", "anticipates", "intends", "plans", "believes",
"estimates", "projects", "forecasts", "will", "may", "potential",
"should", and similar expressions are forward-looking statements.
These forward-looking statements reflect management's current
expectations only as of the date of this release. As a result, you
are cautioned not to rely on any forward-looking statements.
Although these statements are based upon assumptions that we
believe to be reasonable based upon available information, they are
subject to risks and uncertainties. These risks and uncertainties
include, but are not limited to, the factors detailed from time to
time in our periodic reports and filings with the SEC, including
Atlas's Annual Report on Form 20-F for the year ended December 31, 2020, filed with the SEC on
March 19, 2021. We expressly disclaim
any obligation to update or revise any of these forward-looking
statements, whether because of future events, new information, a
change in our views or expectations, or otherwise. We make no
prediction or statement about the performance of any of our
securities.
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SOURCE Atlas Corp.