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Seaspan may stretch 7,000TEU-ship haul to 15 vessels

Seaspan Corporation could take its haul of 7,000TEU dual-fuelled container ships at Yangzijiang Shipbuilding to 15 vessels.

The shipbuilder disclosed in a Singapore Exchange filing on 30 July that Seaspan has options for five more vessels, after placing 10 orders on 6 July. The first 10 ships, upon their deliveries from October 2023 to 2024, will be chartered to Israeli liner operator ZIM for 12 years.

Bing Chen-headed Seaspan, the largest independent owner of container ships, is expected to exercise the options this month, bringing the total contract value to around US$1.58 billion.

In a first for the shipbuilder, the ships ordered by Seaspan will be installed with LNG fuel storage and supply system, and LNG tanks jointly designed by Yangzijiang as part of its research and development efforts.

Yangzijiang’s clinching of the orders for these dual-fuelled container ships also ends South Korean ship builders' monopoly on these ship types. This has allowed Yangzijiang to further strengthen its foothold in the LNG market and will lay out a strong foundation for further growth and expansion.

Yangzijiang's CEO and executive chairman, Ren Letian, said, “The clinching of contract for LNG dual-fueled vessels has placed Yangzijiang amongst the playing field of other shipyards that were known to enjoy monopoly over the construction of dual-fuel engine vessels, and this was only possible through our continuous R&D efforts."

Meanwhile, Seaspan has 55 ships, ranging from 7,000TEU to 24,000TEU, on order, including six 12,000TEU ships, a dozen 15,000TEU ships and a pair of 24,000TEU ships at Yangzijiang.

Martina Li
Asia Correspondent

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