Seaspan Accepts Delivery of Fiftieth Containership

HONG KONG, CHINA, Jun 1, 2010 (Marketwire via COMTEX News Network) -- Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of the Calicanto Bridge from Jiangsu Yangzijiang Shipbuilding Co., Ltd. ("YZJ") on May 28, 2010. The 2500 TEU containership is Seaspan's eighth delivery in 2010, expanding the Company's operating fleet to 50 vessels.

Kawasaki Kisen Kaisha Ltd. ("K-Line") of Japan accepted delivery of the Calicanto Bridge on May 30, 2010. The vessel is on charter to K-Line under a ten-year, fixed-rate time charter. It is the last of two 2500 TEU sister ships and the second of a total of seven vessels to be chartered by Seaspan to K-Line. Furthermore, this ship is the last of ten 2500 TEU vessels delivered from YZJ to Seaspan.

About Seaspan

Seaspan owns containerships and charters them pursuant to primarily long-term fixed-rate charters. Seaspan's contracted fleet of 68 containerships consists of 50 containerships in operation and 18 containerships to be delivered over approximately the next 23 months. Seaspan's operating fleet of 50 vessels has an average age of approximately five years and an average remaining charter period of approximately seven years. All of the 18 vessels to be delivered to Seaspan are already committed to long-term time charters averaging approximately 12 years in duration from delivery. Seaspan's customer base consists of seven of the world's largest liner companies, including China Shipping Container Lines, A.P. Moller-Maersk, Mitsui O.S.K. Lines, Hapag-Lloyd, COSCO Container Lines, K-Line and CSAV.

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

Source: Seaspan Corporation