LONDON, Sept. 27, 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 ten 7,000 TEU modern newbuild
containerships (the "Vessels"). The Vessels, which are
scrubber-fitted, are anticipated to begin deliveries in the second
quarter and through to the fourth quarter of 2024. Upon completion,
the Vessels will enter long-term charters with a leading global
liner customer. Seaspan expects the Vessels to generate
$1.4 billion of gross contracted cash
flows over their minimum terms.
Bing Chen, Chairman, President and CEO of Seaspan, commented,
"This transaction further highlights Seaspan's unmatched platform
and competitive solutions that meet our customers' needs. With our
previously announced order of fifteen 7,000 TEU dual fuel vessels,
this newbuild order is further evidence of the deep customer demand
for this vessel size, which is uniquely suited to replace the
global fleet's aging cohort of 4,000 to 9,000 TEU vessels."
The Vessels are anticipated to be financed from additional
borrowings as well as cash on hand. With the addition of these
vessels Seaspan will continue to expand its fleet within core
strategic size segments. Since December 2020 and
including this announcement, Seaspan has announced 70 newbuild
orders.
Vessel
Class
|
Newbuilds
|
Total
TEU
|
7,000 TEU
LNG
|
15
|
105,000
|
7,000 TEU
|
10
|
70,000
|
12,000 TEU
|
6
|
72,000
|
12,200 TEU
|
5
|
61,000
|
15,000 TEU
|
16
|
240,000
|
15,000 TEU
LNG
|
10
|
150,000
|
15,500 TEU
|
6
|
93,000
|
24,000 TEU
|
2
|
48,000
|
Total
|
70
|
839,000
|
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 Ltd. 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. Seaspan's operational fleet
consists of 131 vessels with a total capacity of 1,120,200 TEU. We
also have 70 vessels under construction, including those announced
today, increasing total capacity to 1,959,200 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. 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.