Benzinga | Jun 24, 2021 08:35AM EDT

Seaspan Announces Forward Fixing Contracts For 17 Containerships; Contracts Expected To Generate ~$700M In Gross Contracted Cash Flow

Seaspan Corporation ("Seaspan"), a wholly owned subsidiary of Atlas Corp. ("Atlas") (NYSE:ATCO), today announced that it has forward fixed contracts, extending current lease terms for 17 containerships with COSCO SHIPPING Lines ("COSCO"). The vessels, representing approximately 117,700 TEU, in aggregate, were previously scheduled to conclude current charters with COSCO for two vessels in 2021, 13 vessels in 2022, and two vessels in 2023, which have now all been extended for a three-year term beginning at the end of their current charter period. Over the course of the charter terms between 2023 and 2027, these contracts will generate approximately $0.7 billion of gross contracted cash flow.1