Delivery of third 13,100 TEU containership

The new containership, which was constructed by Hyundai Heavy Industries Co., Ltd., is Seaspan's ninth delivery in 2011 and expands the company's operating fleet to 64 vessels.

"COSCO Development" is on charter to COSCO Container Lines Co., Ltd. ("COSCON") under a twelve-year, fixed-rate time charter. The ship is the third of eight 13100 TEU sister ships and the 13th of a total of 18 vessels to be chartered by Seaspan to COSCON.

Latest addition ot orderbook are three 10,000 TEU vessel which will be constructed at YZJ in China. Delivery is scheduled for 2014. The newbuildings will go on charter to Hanjin Shipping.

Seaspan Corporation, Hong Kong base charter owner, announced that it accepted delivery of a 13100 TEU containership, the "COSCO Development".

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