Seaspan continues to seize growth opportunities by acquiring two 8,500 TEU container ships backed by Liner Charters


LONDON, April 5, 2021 / PRNewswire / – Seaspan Corporation (“Seaspan”), a wholly owned subsidiary of Atlas Corp. (“Atlas”) (NYSE: ATCO), today announced that it has entered into an agreement to acquire two quality 8,500 TEU container ships equipped with scrubbers (“the Ships”) on long-term charter with a global line customer. The ships are expected to be delivered in the second quarter of 2021.

Bing Chen, Chairman, Chairman and CEO of Seaspan, said, “I am extremely proud of our team’s consistent delivery of creative client partnerships under all market conditions. With our large-scale reliable services and quality solutions, Seaspan continues to develop the winning solution. gain a solution to our global line customer to facilitate their business successes in the face of tight supply market dynamics. We are confident of the prospect of continued quality growth and value creation for our shareholders throughout market cycles. “

Vessels should be financed by additional borrowing as well as cash on hand. From December 31, 2020, Seaspan’s global fleet consisted of 127 vessels and approximately 1,073,200 TEUs. Beginning in december 2020, and with the two vessels announced today, Seaspan announced the addition of a total of 597,000 TEUs represented by 41 vessels, including 37 new vessels, and the acquisition of four vessels in secondary markets, bringing the capacity total at 1,670,200 TEU, on a fully delivered base.

About Atlas
Atlas is a leading global asset management company, distinguished by its position as a leading owner and operator, focused on deploying capital to create sustainable shareholder value. Atlas brings together an experienced asset management team with extensive experience in operations and capital allocation. We target long-term risk-adjusted returns on high quality infrastructure assets in the marine, energy and other vertical infrastructure sectors. Our two holding companies, Seaspan Corporation and APR Energy, are unique and industry-leading operating platforms in the global marine and energy spaces, respectively. For more information visit www.atlascorporation.com.

About Seaspan
Seaspan is a leading independent owner and operator of container ships. We charter our vessels primarily through long term, fixed rate charters from the largest container ships in the world. AT December 31, 2020, Seaspan’s fleet consists of 127 container ships representing a total capacity of approximately 1,073,200 TEUs. We also have 37 vessels under construction and four used vessels with a total of 597,000 TEUs, bringing the total capacity to 1,670,200 TEUs, on a fully delivered basis. For more information visit www.seaspancorp.com.

Caution Regarding Forward-Looking Statements

This release contains certain forward-looking statements (as that term is defined in Section 21E of the Securities Exchange Act of 1934, as amended) regarding future events, including forward-looking statements regarding the expected benefits of the vessel transactions for the situation Atlas financial statements and results of operations. Statements of a predictive nature, which depend on or refer to future events or conditions, or which include words such as “expects”, “anticipates”, “intends”, “plans”, “believes” , “Estimates”, “plans”, “forecasts”, “will”, “could”, “potential”, “should”, and similar expressions are forward-looking statements. These forward-looking statements reflect the current expectations of management only as of the date of this press release. Therefore, you are cautioned not to rely on any forward-looking statements. Although such statements are based on assumptions that we believe are reasonable based on available information, they are subject to risk and These risks and uncertainties include, but are not limited to: the potential for early termination of the charters and the inability of Seaspan to replace them; the possibility that we may not be able to continue to execute our strategy of e growth; and other factors detailed from time to time in our periodic reports and documents to the Securities and Exchange Commission, including Atlas’s annual report on Form 20-F for the year ended December 31, 2020. We expressly disclaim any obligation to update or revise any of these forward-looking statements, whether as a result of future events, new information, a change in our opinions or expectations, or otherwise. We do not make any predictions or statements about the performance of any of our securities.

SOURCE Atlas Corp.

Related links

https://atlascorporation.com/

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