Financing fully secured for Seaspan’s 70-ship newbuilding program

Seaspan Corporation has secured the last of its financings for its full 70-vessel newbuild program, which also includes three vessels recently delivered.

The proceeds from these financings total approximately US$6.9 billion and will be drawn throughout construction of the newbuild program to fund a total investment of approximately US$7.6 billion.

Seaspan said the financing completed on December 23, 2021, represents the last arrangement underway to secure financing for the full newbuild program. Proceeds from the financing total approximately US$1.4 billion and will be used to finance ten 15,000TEU LNG dual-fuel newbuild vessels.