Seaspan scraps contract for four newbuilds

Chamber of Shipping > Blog > News > International > Seaspan scraps contract for four newbuilds

Seaspan Corp has ripped up $520m in contracts to build four container ships and has warned that a legal claim may follow. The container ship owner, a subsidiary of US-listed Atlas Corp, said the cancellation involves four 7,700-teu, dual-fuel (LNG) newbuildings. Seaspan did not explain the reason for tearing up the contracts, other than to say that the counterparty failed to live up to some terms of the deal.  The ships were due for delivery reportedly to MSC in the third and fourth quarters of 2024 and were set to enter into long-term charters.

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