Seaspan buys shipbuilding vehicle GCI for bargain price and boosts its fleet

Containership owner Seaspan Corporation has bought the 89% of shares it did not own in shipbuilder vehicle Greater China Intermodal Investments (GCI).
And it paid a significantly discounted price following a collapse in ship asset values.
It means Seaspan has acquired 16 vessels of 10,000-14,080 teu and two 10,000 teu ships under construction for $1.6bn, including $1bn of debt and $140m of future vessel payments.
According to Seaspan chairman David Sokol: “The asking price for …

The post Seaspan buys shipbuilding vehicle GCI for bargain price and boosts its fleet appeared first on The Loadstar.

Source: The Loadstar

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