Seaspan takes dual-fuel container ships order tally to 27 in Q2

The ordered dual-fuel container ships range between 9,000-17,000 TEU.

PHOTO: Seaspan’s container ship COSCO Pride. Seaspan

The order book includes four 9,000 TEU methanol dual-fuel container ships, four 9,000 TEU LNG dual-fuel container ships and five 17,000 TEU LNG dual-fuel container ships. All these contracts were transferred to certain nominees, from which Seaspan will take the ships on bareboat deals and charter them out to liners on a long-term basis upon delivery.

A bareboat deal is a rental agreement, as per which the lessee takes possession of a vessel without crew or supplies, handling its operation and maintenance independently.

Additionally, five contracts were for 17,000 TEU LNG dual-fuel container ships and five for 16,000 TEU LNG dual-fuel container ships. Upon delivery, these ten newbuilds will enter long-term charters with a customer.

Four contracts were for 9,000 TEU LNG dual-fuel container ships, which were later transferred to a customer.

The vessels are scheduled for delivery between 2027 and 2028.

Hong Kong-based ship operator Seaspan Corporation's parent company, Atlas, disclosed this newbuilding program in a security filing with the US Securities and Exchange Commission.

However, the company has not provided any details about the shipyard where the vessels will be built, or the charterers involved.

By Tuhin Roy

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