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Seaspan Lands USD 1bn in Facilities for Made-In-China Boxships

Seaspan Lands USD 1bn in Facilities for Made-In-China Boxships
Hong Kong-based container ship owner and operator Seaspan Corporation has signed a Framework Cooperation Agreement with the Export-Import Bank of China (CEXIM) for a total of up to USD 1 billion in export credit facilities .

The CEXIM credit facilities are subject to approvals by CEXIM, customary closing conditions and the execution of definitive documentation.

“We are pleased at the prospect of further strengthening our long-standing relationship with CEXIM, which began in the early 2000’s and led to our first loan agreement in 2007,”  Gerry Wang, Chief Executive Officer, Co-Chairman and Co-Founder of Seaspan, said.

”With the signing of this Framework Cooperation Agreement, we expect to be able to enhance our financial flexibility and increase our access to growth capital. Consistent with our disciplined strategy, we intend to continue to pursue attractive opportunities to grow our fleet and contracted revenue stream, which currently exceeds USD 6 billion.”

Seaspan’s managed fleet currently consists of 118 container ships representing a total capacity of over 935,000 TEUs, including 20 newbuildings on order scheduled for delivery to Seaspan and third parties by the end of 2017.

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