Seaspan acquires two newbuilding vessels

Seaspan has acquired two newbuild 11,000TEU vessels from Greater China Intermodal Investments (GCI) for US$195.6 million.

The vessels will commence 17-year bareboat charters with MSC upon delivery.

MSC will then purchase the vessels for a pre-determined amount at the end of their respective charters.

The two vessels are sister ships to a separate three vessels Seaspan has scheduled for delivery in 2017 that will also be chartered to MSC.

GCI is a joint venture among Seaspan, the Carlyle Group, Blue Water Commerce (which is controlled by Seaspan's largest shareholder, Dennis Washington) and Tiger Management (which is controlled by Seaspan director Graham Porter).