Seaspan has forward fixed contracts, extending current lease terms for 17 container ships with COSCO SHIPPING Lines. The vessels, representing approximately 117,700TEU, were previously scheduled to conclude current charters with COSCO for two vessels in 2021, 13 vessels in 2022, and two vessels in 2023, which have now all been extended for a three-year term beginning at the end of their current charter period. Over the course of the charter terms between 2023 and 2027, these contracts will generate approximately US$700 million of gross contracted cash flow, according to a statement. Additionally, Seaspan has announced that it has entered into agreements with a major shipyard for two 12,000TEU newbuildings. The new vessels are anticipated to be delivered during the fourth quarter of 2022, and upon completion will enter long-term charters with an undisclosed global liner.