Seaspan

Seaspan enjoys record annual revenue

Highlights for the Fourth Quarter & Full Year 2018 & Year-to-Date 2019:

  • Earnings per diluted share of $0.25 for the fourth quarter and $1.31 for the full year
  • Record quarterly and annual operating earnings of $134.4 million for the fourth quarter and $469.9 million for the full year
  • Record quarterly and annual cash flows from operations of $149.3 million for the fourth quarter and $483.9 million for the full year
  • Achieved vessel utilization of 97.3% for the fourth quarter and 97.8% for the full...

https://container-news.com/seaspan-enjoys-record-annual-revenue/

Seaspan turnover tops $1bn in 2018 and eyes an IMO 2020 bonus on the way

Seaspan Corporation is bullish on the prospects for the charter market for the second half of the year, as ocean carriers look for tonnage to take over from ships being fitted with scrubbers.
The world’s largest boxship lessor said ship availability in the 6,000 teu-plus sectors was “becoming tight”, as carriers looked to tie up charters for 12-month periods, as  well as to fill in gaps resulting from the further slowing …

The post Seaspan turnover tops $1bn in 2018 and eyes an IMO 2020 bonus on...

https://theloadstar.com/seaspan-turnover-tops-1bn-in-2018-and-eyes-an-imo-2020-bonus-on-the-way/

Seaspan to increase its pool of unencumbered assets

Seaspan Corporation (“Seaspan”) announced that it has prepaid a credit facility which was secured by six of its vessels. Upon completion of the collateral release documentation, this will expand Seaspan’s pool of unencumbered vessels from 18, as reported in its Q3 2018 earnings press release, to 24 vessels.

Ryan Courson, Chief Financial Officer of Seaspan, commented, “Seaspan continues to add flexibility to the Company’s capital structure by de-leveraging and unencumbering vessels. We are firmly...

http://container-news.com/seaspan-increase-pool-unencumbered-assets/

Seaspan files to sell bonds in Tel Aviv

Seaspan has filed to sell 450 million shekels ($122 million) of bonds on the Tel Aviv Stock Exchange. In a draft prospectus filed Sunday (Nov. 04), the company said it planned to issue bonds due in 2024 in shekels and would dual-list its New York Stock Exchange-traded shares on the TASE. The company, which designs and builds cargo ships tailored to customers’ requirements and provides maintenance, crew and management, boasts 112 vessels, making it one of the world’s largest container shipowners.

http://container-news.com/seaspan-sell-bonds-tel-aviv/

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/

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/

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 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, 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/

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