LONDON, Nov. 30, 2021 /CNW/ - Seaspan Corporation
("Seaspan"), a wholly owned subsidiary of Atlas Corp. ("Atlas")
(NYSE: ATCO), today announced that it has accepted delivery of
an additional two 12,200 TEU containerships. The containerships
will immediately begin 18-year charters with a major liner
customer. This marks the second and third of five newbuild
containerships in this class, the first having been delivered in
October, each of which have been delivered approximately two months
ahead of schedule.
Bing Chen, Chairman, President and CEO of Seaspan, commented,
"These ahead of schedule deliveries further demonstrate Seaspan's
operational excellence in containership design and construction
under all market conidtions. Seaspan continues to overdeliver in
servicing our customer needs against a backdrop of global
undersupply of containerships. I am proud of our team for their
consistent performance, and we remain steadfast in executing our
quality growth."
Since November 2020, Seaspan has
announced orders for 70 newbuild containerships, representing the
addition of 839,000 TEU, which will add over $11 billion of gross contracted cash flows and
bring the fully delivered fleet to 1,959,200 TEU. The chart below
summarizes the current status of this newbuild program:
|
Newbuilds
|
|
Vessel
Class
|
In-Construction
|
Delivered
|
Total
TEU
|
7,000 TEU
|
10
|
-
|
70,000
|
7,000 TEU
LNG
|
15
|
-
|
105,000
|
12,000 TEU
|
6
|
-
|
72,000
|
12,200 TEU
|
2
|
3
|
61,000
|
15,000 TEU
|
16
|
-
|
240,000
|
15,000 TEU
LNG
|
10
|
-
|
150,000
|
15,500 TEU
|
6
|
-
|
93,000
|
24,000 TEU
|
2
|
-
|
48,000
|
Total
|
67
|
3
|
839,000
|
About Atlas
Atlas is a leading global asset management company,
differentiated by its position as a best-in-class owner and
operator with a focus on deploying capital to create sustainable
shareholder value. Atlas brings together an experienced asset
management team with deep operational and capital allocation
experience. We target long-term, risk adjusted returns across
high-quality infrastructure assets in the maritime sector, energy
sector and other infrastructure verticals. Our two portfolio
companies, Seaspan Corporation and APR Energy Ltd. are unique,
industry-leading operating platforms in the global maritime and
energy spaces, respectively. For more information
visit atlascorporation.com.
About Seaspan
Seaspan is a leading independent owner and operator of
containerships. We charter our vessels primarily pursuant to
long-term, fixed-rate time charters to the world's
largest container shipping liners. Seaspan's operational fleet
consists of 134 vessels with a total capacity of 1,156,800 TEU. We
also have 67 vessels under construction, increasing total capacity
of our operational fleet to 1,959,200 TEU, on a fully delivered
basis. For more information visit seaspancorp.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains certain forward-looking statements (as
such term is defined in Section 21E of the Securities Exchange Act
of 1934, as amended) concerning future events, including the
expected benefits of the newbuild vessels to Atlas's financial
condition and results from operations. Statements that are
predictive in nature, that depend upon or refer to future events or
conditions, or that include words such as "expects", "anticipates",
"intends", "plans", "believes", "estimates", "projects",
"forecasts", "will", "may", "potential", "should", and similar
expressions are forward-looking statements. These forward-looking
statements, reflect management's current expectations only as of
the date of this release. As a result, you are cautioned not to
rely on any forward-looking statements. Although these statements
are based upon assumptions that we believe to be reasonable based
upon available information, they are subject to risks and
uncertainties. These risks and uncertainties include but are not
limited to the factors detailed from time to time in our periodic
reports and filings with the SEC, including Atlas's Annual Report
on Form 20-F for the year ended December 31,
2020, filed with the SEC on March 19,
2021. We expressly disclaim any obligation to update or
revise any of these forward-looking statements, whether because of
future events, new information, a change in our views or
expectations, or otherwise. We make no prediction or statement
about the performance of any of our securities.
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SOURCE Atlas Corp.