Seaspan

Seaspan still focused on container shipping, despite diversion into energy sector

Boxship lessor Seaspan Corporation says it remains “fully focused” on growing its non-operating containership-owning business, despite its recent decision to invest in the energy sector.
In a lengthy Q&A session, part of its third-quarter earnings call yesterday, management repeatedly denied that a potential $200m investment in the restructured Singapore-listed Swiber Group meant it was no longer interested in container shipping.
Chairman David Sokol said Seaspan would “continue to look at...

https://theloadstar.co.uk/seaspan-still-focused-container-shipping-despite-diversion-energy-sector/

Seaspan announces its financial results

Seaspan Corporation (“Seaspan”) announced on Oct. 30 its financial results for the three and nine months ended September 30, 2018.

Highlights for the Quarter:

  • Earnings per diluted share of $0.36 for the third quarter and $1.07 for the nine months
  • Cash Flow from Operations reached a quarterly record $142.2 million for the third quarter and $325.0 million for the nine months
  • Fairfax exercised its first tranche of 38.5 million warrants for proceeds to Seaspan of $250.0 million
  • Closed $150.0...

http://container-news.com/seaspan-announces-financial-results/

Torsten Holst Pedersen and ‘Ted’ Chang join lead team at Seaspan

The world’s largest non-operating containership owner, Seaspan, has hired a new executive vice president of ship management and general counsel.
Torsten Holst Pedersen (pictured above) and H Theodore (Ted) Chang will join the company in November.
Bing Chen, Seaspan president and chief executive, said: “Torsten and Ted have both had distinguished careers and demonstrated successes in their respective fields. After an extensive search for both roles, we are pleased to welcome Torsten and Ted to …

T...

https://theloadstar.co.uk/torsten-holst-pedersen-ted-chang-join-lead-team-seaspan/

Seaspan, Term Sheet for Investment in the Restructuring of Swiber

Seaspan Corporation (“Seaspan”) announced on Oct. 3 that it has entered into a binding term sheet for a potential investment of up to US$200 million in the restructured Swiber Holdings Limited (“Swiber”, and together with its subsidiaries, the “Swiber Group”), a publicly traded Singaporean offshore engineering, procurement and construction business that owns five maritime vessels. The investment is expected to be funded in two tranches, i) US$20 millionupon closing in exchange for an 80%...

http://container-news.com/seaspan-term-sheet-investment-restructuring-swiber/

Seaspan engages with Canadian suppliers

As part of its participation in DEFSEC, Canada’s second largest defence conference, Seaspan held an event outlining business opportunities for its growing domestic supply chain

Halifax, NS – On October 2, approximately 60 representatives from current and potential suppliers attended Seaspan Shipyards’ (Seaspan) industry engagement event hosted in Halifax. At the event, participants received information on the National Shipbuilding Strategy (NSS) and the opportunities associated with the...

http://container-news.com/seaspan-engages-with-canadian-suppliers/

Seaspan diversifies as it steps in to take control and save Swiber

Seaspan, the world’s largest non-operating containership owner, has announced its first significant investment outside the sector, suggesting it intends to diversify its business model.
The New York-listed lessor, with an operating fleet of 112 ships, said it planned to invest up to $200m in the restructured Singapore-based oilfield services group, Swiber Holdings.
Seaspan has a war chest of $1bn via investment from Fairfax Financial Holdings, now a 22% shareholder.
It had been assumed that …

The...

https://theloadstar.co.uk/seaspan-diversifies-steps-take-control-save-swiber/

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