Seaspan Corporation has entered into an agreement with a major European liner customer to forward fix contracts, extending current charter terms for 18 container vessels.
The ships have an overall capacity of more than 83,000 TEU and were previously scheduled to roll-off charters in 2023 and 2024, respectively.
These charters have now been extended into 2025. Over the course of 2023 through 2025, these contract extensions are expected to generate approximately US$200 million of incremental gross contracted cash flow, according to Seaspan.
“The forward fixing of these 18 vessels is another demonstration of Seaspan delivering creative customer solutions through our long-term partnership model with industry-leading customers,” said Bing Chen, president and CEO of Atlas Corp., the mother company of Seaspan.
Chen went on to comment, “The immediate result of forward fixing these vessels further contributes to minimising our roll-off profile through 2025 and underlines Seaspan’s strength in generating quality and predictable cash flows.”
