LONDON, Oct. 4, 2021 /CNW/ - Seaspan Corporation
("Seaspan"), a wholly owned subsidiary of Atlas Corp. ("Atlas")
(NYSE: ATCO), today announced that it has accepted delivery of
one 12,200 TEU containership, which will immediately begin an
18-year charter with a major liner customer. This vessel is the
first of five newbuild containerships in this class.
Bing Chen, Chairman, President and CEO of Seaspan, commented,
"This delivery marks a major milestone in Seaspan's continuing
quality growth and unmatched ability to best serve our customers.
About two months ahead of the scheduled delivery during a global
pandemic is testament to how Seaspan creates value for our
customers in a current vessel shortage market. I'm proud of our
team's supreme execution working with the logistical restrictions
and our shipyard's prioritizing of their limited resources to
facilitate early delivery of this best-in-class vessel. This
further demonstrates the capabilities of our fully integrated
platform and resilient business model within the global logistics
market."
Since November 2020, Seaspan has
announced investments for 70 newbuild containerships, representing
the addition of 839,000 TEU, which will add over $11 billion of gross contracted cash flows and
bring the fully delivered fleet to 1,959,200 TEU. The chart below
summarizes newbuild vessels which Seaspan has announced but has not
yet received delivery of:
Vessel
Class
|
Newbuilds
|
Total
TEU
|
7,000 TEU
|
10
|
70,000
|
7,000 TEU
LNG
|
15
|
105,000
|
12,000 TEU
|
6
|
72,000
|
12,200 TEU
|
4
|
48,800
|
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
|
69
|
826,800
|
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 132 vessels with a total capacity of 1,132,400 TEU. We
also have 69 vessels under construction, 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, including the
expected benefits of newbuild orders and the ability to charter
newbuild vessels at favorable rates 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.