Seaspan Corporation
NYSE : SSW

Seaspan Corporation

January 20, 2011 21:09 ET

Seaspan Declares Dividend of $0.125 Per Share for Fourth Quarter 2010

HONG KONG, CHINA--(Marketwire - Jan. 20, 2011) - Seaspan Corporation (NYSE:SSW) announced today that the Company's Board of Directors has declared a quarterly dividend of $0.125 for the three months ended December 31, 2010. The dividend will be paid on February 11, 2011 to all shareholders of record as of January 28, 2011.

About Seaspan

Seaspan is a leading independent charter owner of containerships, which it charters primarily pursuant to long-term fixed-rate time charters to major container liner companies. Seaspan's contracted fleet of 69 containerships consists of 55 containerships in operation and 14 containerships scheduled for delivery through April 2012. Seaspan's operating fleet of 55 vessels has an average age of approximately five years and an average remaining charter period of approximately seven years. All of the 14 vessels to be delivered to Seaspan are already committed to fixed-rate time charters of 12 years in duration from delivery. Seaspan's customer base consists of eight of the world's largest liner companies, including A.P. Moller-Mærsk A/S, China Shipping Container Lines (Asia) Co., Ltd., Compaňia Sud Americana de Vapores S.A., COSCO Container Lines Co., Ltd., Hapag-Lloyd USA, LLC, Kawasaki Kisen Kaisha Ltd., Mitsui O.S.K. Lines, Ltd., and United Arab Shipping Company (S.A.G.).

Seaspan's common shares are listed on the New York Stock Exchange under the symbol "SSW".

Forward-Looking Statements

The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. These risks and uncertainties include, among others, those discussed in Seaspan's public filings with the SEC. Seaspan undertakes no obligation to revise or update any forward-looking statements unless required to do so under the securities laws.

Contact Information

  • Seaspan Corporation - Investor Relations Inquiries
    Sai W. Chu
    Chief Financial Officer
    604-638-2575
    www.seaspancorp.com
    or
    The IGB Group - Media Inquiries
    Leon Berman
    212-477-8438