Seaspan orders 11,400 TEU sextet for COSCO charter

Seaspan Corporation has commissioned six 11,400 TEU ships at Shanghai Waigaoqiao Shipbuilding (SWS) for long-term charter to COSCO Shipping Lines.

The order was made in conjunction with Seaspan Chairman and CEO Bing Chen’s visit to SWS on 29 April, during which he and the shipyard management discussed collaboration in the areas of green fuels and shipbuilding.

Seaspan is the largest independent owner of container ships, while SWS is part of China State Shipbuilding Corporation.

The specific details, contract value, and delivery timeline of the order were not disclosed. However, Alphaliner estimates the new vessels will be delivered in 2028.

For reference, Thai regional carrier Regional Container Lines (RCL) previously ordered two 11,000 TEU container vessels from SWS at US$125 million each.

Clarksons, however, now values a similar newbuilding at US$119 million each, meaning there has been downward pressure on prices.

Seaspan is a repeat customer at SWS, having ordered 7,000 TEU ships and 10,800-CEU car carriers at the shipyard.

The 11,400 TEU boxship is a new-generation green and environmentally friendly large vessel independently developed by SWS, optimised from its 7,000 TEU design. It offers greater cargo capacity, improved dock utilisation, and energy-saving advantages.

Last year, SWS won orders for six methanol-ready 11,000 TEU ships from Singapore-based X-Press Feeders.

Clarksons shows that Seaspan’s in-service fleet stands at 193 container ships, ranging from 2,500 TEU to 16,000 TEU vessels. Besides COSCO, Seaspan’s charterers include MSC, Maersk and CMA CGM.

Alison Koo
Asia Correspondent

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