Seaspan’s 70-vessel newbuilding spree now fully financed

The US$1.4Bn deal will fund 10 LNG dual-fuelled 15,000-TEU container ships, each currently under construction at an unnamed shipyard.

Seaspan, part of US-listed Atlas Corp, has now put US$6.9Bn in place to fund newbuildings – three of which have already been delivered – and total investment in the 70-vessel project is US$7.6Bn.
Atlas chief financial officer Graham Talbot said the arrangements solidify the company’s “long-term liquidity” adding, “We have demonstrated consistent success in executing attractive growth opportunities at the right time while diligently managing associated risk.”

“We do this by ensuring we enter into newbuild contracts only once a long-term lease is in place with one of our high-quality counterparties, and that we have a clear line of sight to financing the project.”

Source: https://www.rivieramm.com/news-content-hub/seaspans-70-vessel-newbuilding-spree-fully-financed-with-final-14bn-deal-69177

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