Ninth 14,000 TEU SAVER Handed Over to Seaspan

zoomIllustration; Image Courtesy: Seaspan Corporation Hong Kong-based containership manager and owner Seaspan Corporation has taken delivery of YM Wind, a 14,000 TEU newbuilding, from Taiwanese CSBC Corporation. As informed, the ship will commence a fixed rate charter with Taiwan-based Yang Ming Marine Transport Corporation for a ten-year term with an option to extend the charter for an additional two years. YM Wind is the ninth 14,000 TEU SAVER design containership to join Seaspan and expands the company’s operating fleet to 89 vessels. With a gross tonnage of 153,500 tons, YM Wind has a length of 368 meters and a width of 51 meters. Seaspan said it has entered into a sale-leaseback transaction for the YM Wind which provides gross proceeds of approximately USD 144 million. The proceeds will be used to pay for the final YM Wind delivery installment of approximately USD 75 million, with the remainder used for general corporate purposes including debt repayment. The lease has a term of 12 years, and Seaspan has an option to purchase the vessel at a pre-determined fair value after 9.5 years. The eight 14,000 TEU SAVER vessel from the batch was delivered to the company in late May 2016. Seaspan’s managed fleet consists of 114 containerships representing a total capacity of over 915,000 TEU, including 10 newbuilding containerships on order scheduled for delivery to Seaspan and third parties by the end of 2018.