Seaspan Corporation
NYSE : SSW

Seaspan Corporation

April 20, 2011 01:56 ET

Seaspan Declares Dividend on its 9.5% Series C Preferred Shares

HONG KONG, CHINA--(Marketwire - April 20, 2011) - Seaspan Corporation (NYSE:SSW) announced today that the Company's Board of Directors has declared a quarterly dividend of $0.6069 per share on its 9.5% Series C preferred shares for the period from January 28, 2011 to April 29, 2011. The dividend will be paid on May 2, 2011 to all 9.5% Series C preferred shareholders of record as of April 29, 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 58 containerships in operation and 11 containerships scheduled for delivery through March 2012. Seaspan's operating fleet of 58 vessels has an average age of approximately five years and an average remaining charter period of approximately seven years. All of the 11 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-Maersk A/S, China Shipping Container Lines (Asia) Co., Ltd., Compania 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".

Seaspan's Series C preferred shares are listed on the New York Stock Exchange under the symbol "SSW PR C".

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

  • For Investor Relations Inquiries:
    Seaspan Corporation
    Mr. Sai W. Chu
    Chief Financial Officer
    604-638-2575
    www.seaspancorp.com

    For Media Inquiries:
    The IGB Group
    Mr. Leon Berman
    212-477-8438