Seaspan Accepts Delivery of Fourth 11000 TEU SAVER Containership

Hong Kong - Dec. 11, 2017

Seaspan Corporation (NYSE:SSW) announced today that it has accepted delivery of the MSC Madhu B, an 11000 TEU containership that will commence a bareboat charter with MSC Mediterranean Shipping Company S.A. ("MSC") for a period of seventeen years. Upon completion of the bareboat charter period, MSC is obligated to purchase the vessel for a pre-determined amount.

Seaspan Accepts Delivery of Fourth 11000 TEU SAVER Containership (CNW Group/Seaspan Corporation)

The MSC Madhu B, which was constructed at HHIC-PHIL INC., is Seaspan's fourth 11000 TEU SAVER design containership in a series of five ships under bareboat charter to MSC. This is Seaspan's fifth vessel delivery in 2017, expanding Seaspan's operating fleet to 89 vessels.

About Seaspan
Seaspan provides many of the world's major shipping lines with creative outsourcing alternatives to vessel ownership by offering long-term leases on large, modern containerships combined with industry leading ship management services. Seaspan's managed fleet consists of 110 containerships representing a total capacity of approximately 900,000 TEU, including 5 newbuilding containerships on order scheduled for delivery to Seaspan and third parties by the end of 2018. Seaspan's current operating fleet of 89 vessels has an average age of approximately six years and average remaining lease period of approximately five years, on a TEU weighted basis.

Seaspan Corporation press release