Yangzijiang Shipbuilding has completed the acquisition of a 10% stake in Poseidon Corp, the ultimate parent company of non-operating containership owner Seaspan Corporation.
The transaction was valued at approximately US$825.7 million and marks a significant investment by one of the world’s largest commercial shipbuilders into the containership ownership sector.
Separately, Hengyuan Asset Investment, the private investment vehicle of Yangzijiang Shipbuilding Executive Chairman and CEO Ren Letian, acquired an additional 5% stake in Poseidon.
Following the transactions, Japanese liner operator Ocean Network Express (ONE) remains the largest shareholder in Poseidon with a 49.9% ownership interest.
The investment further strengthens Yangzijiang’s exposure to the container shipping market beyond shipbuilding, while deepening its ties to one of the industry’s largest containership owners.
