Seaspan Acquires 9600 TEU Vessel and Enters Into Three Year Time Charter with ONE

Hong Kong, China - Sept. 9, 2019

Seaspan Corporation ("Seaspan") (NYSE:SSW) announced today that it has purchased a 2010-built 9600 TEU containership and entered into a fixed rate time charter agreement for the vessel with Ocean Network Express ("ONE"). The time charter will be for a term of 36 months with an option for up to an additional four months. Seaspan expects to take delivery of the vessel by the end of April 2020. Upon delivery of the vessel, Seaspan's fleet will expand to 113 vessels.

About Seaspan
Seaspan is a leading independent charter owner and operator of containerships with industry leading ship management services. We charter our vessels primarily pursuant to long-term, fixed-rate, time charters to the world's largest container shipping liners. Seaspan's operating fleet consists of 112 containerships with a total capacity of more than 900,000 TEU, an average age of approximately seven years and an average remaining lease period of approximately four years, on a TEU-weighted basis.

Seaspan Corporation press release