Seaspan Corporation Seaspan Cor (NYSE:SSW)

HONG KONG, China, Feb. 25, 2020 /PRNewswire/ - Seaspan Corporation ("Seaspan") (NYSE:SSW) today announced that it has agreed to purchase a fleet of four containerships (the "Acquired Vessels") for approximately $367 million in cash. The purchase of the Acquired Vessels is expected to be financed from additional borrowings as well as cash on hand.  Seaspan expects to take delivery of the Acquired Vessels during March and April 2020, subject to customary closing conditions.  The transaction is expected to be immediately accretive to Seaspan's earnings per diluted share.

The Acquired Vessels are comprised of four 12,000 TEU vessels, with three built in 2018 and one built in 2017, which will operate under long-term time charters with a leading global liner. Pro-forma for this acquisition, Seaspan's global fleet exceeds one million TEU at 123 vessels and 1,023,000 TEU1, bringing the total contracted revenue to $4.6 billion with a weighted average remaining lease period of approximately 4.2 years. Seaspan continues to be the market leading independent owner and operator of containerships, with pro forma market share of approximately 7.9% of the global fleet2.

HONG KONG, China , Feb. 19, 2020 /PRNewswire/ - Seaspan Corporation ("Seaspan") (NYSE: SSW) announced today its financial results for the quarter and year ended December 31, 2019 .

• Operating earnings of $116.5 million for the fourth quarter and a record $687.0 million for the full year, which included $227.0 million of income related to the modification of time charters
• Earnings per diluted share of $0.24 for the fourth quarter and $1.67 for the full year; changes in fair value of financial instruments contributed a gain of $0.01 per diluted share for the fourth quarter and a loss of $0.16 per diluted share for the full year

Bing Chen, President and Chief Executive Officer ("CEO") of Seaspan, commented, "2019 follows 2018 as another year of achievement and transformation for Seaspan. Our commitment to providing a best-in-class integrated platform focused on delivering long-term value for our stakeholders resulted in record performance across our key financial and operational metrics. Starting in 2018, we set out with a clear strategy focused on five key priorities, and as demonstrated by our results, our relentless execution has benefited all of our stakeholders. We've built a strong team equipped with core competencies to continue growing the container-shipping franchise and beyond. The proposed holding company reorganization to form Atlas Corp. is expected to provide us, as asset managers, with a solid foundation to expand our core competencies into power via the acquisition of APR Energy while augmenting our commitment to the container-shipping industry and customers. As we enter the second quarter of 2020, we believe that we are uniquely positioned to build on our strong momentum through a continued focus on our five key priorities."

Ryan Courson , Chief Financial Officer ("CFO"), added, "Over the course of the last two years we have made significant improvements across our capital structure adding $500.0 million of equity, restructuring nearly $2 billion of secured debt into an innovative portfolio financing program, and  increasing our balance sheet flexibility by adding a total of $450.0 million of liquid revolving credit capacity - with the long-term goal of achieving an investment grade credit rating. While focusing on strengthening our credit profile, we have also invested $2.2 billion of capital into high quality shipping assets, which has materially improved our long-term cash flow profile. We will continue to invest capital to create long-term value through the Atlas platform which we expect to be finalized by March, and we are very excited about the opportunities in front of Seaspan and APR."

Third Quarter 2019 Financial Results

• Revenue decreased by 4.2% to $282.7 million and increased by 5.3% to $843.5 million for the three and nine months ended September 30, 2019, respectively, compared with the same periods in 2018. 
• Earnings per share, diluted was $0.11 vs last years same quarter of $0.36.
  

Bing Chen, President and Chief Executive Officer, commented, "Our focus on Operational Excellence in quality, reliability, and scalability, together with Customer Partnership, as the preferred solution provider of our customers, has resulted in our highest quarterly utilization rate since 2011, of 99.6% for our 112 vessels fleet. We continue to strengthen our customer centric approach, which this quarter generated an attractive vessel acquisition to facilitate the growth needs of one of our customers, in addition to a tailored charter solution for another. We see growing opportunities to broaden and deepen our customer partnerships as our sector stabilizes into a new normal marked by consolidation, and we expect our momentum to continue throughout the remainder of the year."

Ryan Courson, Chief Financial Officer, said, "During the quarter we continued to execute across our business delivering, ahead of plan, a total of $645 million year-to-date cash flows from operations. We remain focused on the balance sheet as well, advancing our capital plan with the increase of our portfolio financing program to $1.5 billion of total commitments. The increased capacity provides room and flexibility to finance new acquisitions, including our recently acquired 9600 TEU vessel, which is expected to be delivered in April. The execution on our capital plan has significantly improved capital availability and flexibility, positioning us to execute on our next phase of growth."

HONG KONG, Sept. 19, 2019 /PRNewswire/ - Seaspan Corporation ("Seaspan") (SSW) announced today the closing of a $500 million increase (the "Accordion") to its portfolio financing program (the "Program"). The Program initially closed on May 15, 2019 with a total capacity of $1.0 billion, and subsequent to closing of the Accordion, has a total capacity of $1.5 billion.

Net proceeds from the Program are intended to be used to repay five secured credit facilities, for general corporate purposes, and may be used in part to finance the acquisition of vessels. The expanded Program will be comprised of a $300 million revolving credit facility ("RCF"), increased from $200 million, and a $1.2 billion term loan facility ("TLA"), increased from $800 million. The TLA is expected to be fully utilized. There is expected to be undrawn committed capacity remaining under the RCF, which will provide incremental corporate liquidity. The expanded Program is expected to consist of a portfolio of 41 vessels, which may change over time as vessels are added or removed.

Ryan Courson, Chief Financial Officer said, "I am pleased to announce the closing of this expanded Program, which represents a continued improvement to our capital structure and corporate flexibility. The Program was well received by our lending partners, and was substantially oversubscribed. We have already begun to realize strategic, as well as financial benefits from the Program, and we expect it to meaningfully enhance Seaspan's ability to achieve its strategic objectives going forward."

HONG KONG, Sept. 19, 2019 /PRNewswire/ - Seaspan Corporation ("Seaspan") (SSW) announced today the closing of a $500 million increase (the "Accordion") to its portfolio financing program (the "Program"). The Program initially closed on May 15, 2019 with a total capacity of $1.0 billion, and subsequent to closing of the Accordion, has a total capacity of $1.5 billion.

Net proceeds from the Program are intended to be used to repay five secured credit facilities, for general corporate purposes, and may be used in part to finance the acquisition of vessels. The expanded Program will be comprised of a $300 million revolving credit facility ("RCF"), increased from $200 million, and a $1.2 billion term loan facility ("TLA"), increased from $800 million. The TLA is expected to be fully utilized. There is expected to be undrawn committed capacity remaining under the RCF, which will provide incremental corporate liquidity. The expanded Program is expected to consist of a portfolio of 41 vessels, which may change over time as vessels are added or removed.

Ryan Courson, Chief Financial Officer said, "I am pleased to announce the closing of this expanded Program, which represents a continued improvement to our capital structure and corporate flexibility. The Program was well received by our lending partners, and was substantially oversubscribed. We have already begun to realize strategic, as well as financial benefits from the Program, and we expect it to meaningfully enhance Seaspan's ability to achieve its strategic objectives going forward."

Second Quarter 2019 Financial Results

• Revenue was $275.4 Million vs last years $ 281.7 Million.
• Earnings per share, diluted was $0.10 vs last years $0.34.
  

Bing Chen, President and Chief Executive Officer, commented, "I'm proud of our team for delivering another stronger than expected second quarter operating results. Our continued drive for operational excellence allowed us to deliver better than anticipated operating earnings, while investing in and building on our integrated platform to consistently enhance our customer centric approach. In particular, we've continued to sign multi-year contracts with customers, maintaining our industry leading utilization rate of 98.7%. Our team is building a solid track record for executing on the promises we have made to our customers, employees, financing partners and our shareholders."

Ryan Courson, Chief Financial Officer, said, "The closing of our innovative $1 billionportfolio financing program this quarter marked an important step toward reshaping our capital structure. Beyond an improved cost of debt and maturity profile, this structure provides us with significant financial flexibility to optimize Seaspan's capital structure going forward, while simplifying and consolidating our credit facilities. With the foundation now laid for growth, we intend to continue executing on capital allocation opportunities to drive shareholder value."

Mid-Year Guidance Update for Full Year 2019:

• Revenue in the range of $1,115.0 million to $1,120.0 million; lower end of range raised by $15.0 million from $1,100.0 million
• Ship Operating Expense in the range of $240.0 million to $245.0 million; higher end of range reduced by $5.0 million from $250.0 million
• Operating Lease Expense in the range of $155.0 million to $160.0 million; higher end of range reduced by $5.0 million from $165.0 million
• General and Administrative Expense in the range of $30.0 million to $35.0 million; guidance range reaffirmed

HONG KONG, April 3, 2019 /PRNewswire/ - Seaspan Corporation ("Seaspan") (SSW) today announced a framework agreement (the "Agreement") for strategic cooperation with COSCO SHIPPING Energy Transportation Co., Ltd. ("COSCO SHIPPING Energy"). COSCO SHIPPING Energy specializes in LNG, oil products, and other energy transportation under China COSCO Shipping Corporation Ltd., ("COSCO Shipping"), and has the largest LNG fleet in China.

Pursuant to the Agreement, both parties are committed to strengthening their exchange of and collaboration on opportunities relating to LNG investments, LNG projects, LNG transportation, ethane transportation, or other related and mutually beneficial projects. The strategic partnership will leverage the strengths and networks of both companies, taking advantage of COSCO SHIPPING Energy's experience in the building, operation, and management of LNG vessels, and Seaspan's global experience in the operation and management of containerships, as well as the networks and experience of its board members in the energy sector.

Bing Chen, Seaspan's President and Chief Executive Officer commented, "Seaspan has long standing integrated services with COSCO Shipping in container shipping, and we are proud to carry this partnership forward to opportunities in LNG. We are confident that the combined strengths of both companies will generate significant value in the future."

HONG KONG, Jan. 15, 2019 /PRNewswire/ - Seaspan Corporation (NYSE: SSW) ("Seaspan") announced today the closing of the second tranche of the $1 billion aggregate investment commitment by Fairfax Financial Holdings Limited and its affiliates (collectively, "Fairfax") in Seaspan. As with Fairfax's initial $500 million investment in Seaspan, and pursuant to definitive agreements entered into on March 13, 2018 and announced on March 14, 2018, this second tranche of funding (the "Second Fairfax Investment") is structured as a $250 million issuance of (i) 5.50% senior notes due 2026 and (ii) approximately 38.46 million warrants (the "2019 Warrants"). Pursuant to a definitive agreement entered into and announced on May 31, 2018, Fairfax has agreed to immediately exercise the 2019 Warrants at an exercise price of $6.50 per warrant, for additional equity proceeds to Seaspan of $250 million. As a result, Seaspan's aggregate proceeds from the Second Fairfax Investment will be $500 million.

This brings Fairfax's total investment in Seaspan to $1 billion, the proceeds of which will be used to fund future growth initiatives, repay debt and for general corporate purposes. With the closing of the Second Fairfax Investment, Fairfax's aggregate shareholdings in Seaspan are 76.9 million Class A common shares or approximately 36% of shares outstanding.

Fairfax continues to hold the 25 million seven year warrants, with an exercise price of $8.05, which were issued to it on July 16, 2018.

Third Quarter 2018 Financial Results

• Revenue increased by 39.8% to $295.0 million and by 29.9% to $801.4 million for the three and nine months ended September 30, 2018, respectively, compared to the same periods in 2017.
• Earnings per diluted share of $0.36 vs. last years same quarter $0.26.

Bing Chen, President and Chief Executive Officer of Seaspan, commented, "I am pleased with our record operating results in the third quarter, and the strategic milestones we have achieved so far this year. We are realizing benefits from the full integration of GCI, which is the main driver of our year-over-year growth, while we continue to invest in and improve operations of our integrated containership platform to provide best-in-class services. These improvements are evidenced by our 98.4% utilization rate for the quarter, as well as marking the lowest ever number of lost time injuries since we began tracking in 2013."

Ryan Courson, Chief Financial Officer, added, "Over the course of the third quarter, we have improved our liquidity position with several strategic financings including closing the first of Fairfax's two $250 million equity investments, a $150 million two-year corporate revolving credit facility, and $150 million of Preferred Series I Shares. Through prudent capital allocation we have lowered our cost of capital while increasing our capital structure flexibility."

HONG KONG, Sept. 16, 2018 /PRNewswire/ - Seaspan Corporation ("Seaspan") (SSW) announced that it has prepaid two credit facilities which were secured by six of its vessels. Upon completion of the collateral release documentation, this will expand Seaspan's pool of unencumbered vessels from 12 as at June 30, 2018 to 18 by October 2018.

Ryan Courson, Chief Financial Officer of Seaspan, commented, "Seaspan's management team remains committed to its stated strategic priorities for the Company, which include de-leveraging and adding flexibility to the Company's capital structure. We expect to continue strengthening our balance sheet as we position the Company for future growth."

Second Quarter 2018 Financial Results

• Revenue was $281,662 vs last years same quarter of $204,609.
• EPS Dilutes was $0.34 vs. last years same quarter of $0.11.

Bing Chen, President and Chief Executive Officer of Seaspan, commented, "I am pleased with our strong operating results for the second quarter. As expected, the acquisition and seamless integration of GCI contributed significantly to our growth. In addition to the vessels acquired through GCI in the first quarter, we grew our operating fleet with the delivery of four 10000 TEU containerships on long-term fixed rate charters with CMA CGM, and achieved a utilization rate of 98.6% for the quarter. We remain optimistic about improving industry dynamics for containerships."

Mr. Chen continued, "The additional investment by Fairfax announced in the second quarter increases its cumulative investment to $1.0 billion. The $500.0 million Fairfax equity investment is transformative to Seaspan as it increases our equity capital base and improves our access to capital."

David Sokol, Chairman of Seaspan Corporation, commented, "Our Board of Directors believes that the management team is doing an excellent job executing on its strategy to deliver long-term shareholder value. We are appreciative of Fairfax's continued confidence in Seaspan. Today, Fairfax Financial Holdings owns 22 percent of Seaspan's Class A common shares outstanding and will own an additional 38.5 million shares upon the exercise of warrants in January 2019. Seaspan appreciates having such thoughtful, long-term investors like Fairfax and the Washington Family, whose perspectives and insights are well-aligned with the Company's longer term strategy."

HONG KONG, July 24, 2018 /PRNewswire/ -- Seaspan Corporation ("Seaspan") (SSW) the world's largest independent containership owner operator, announced today that it has redeemed all of its outstanding 10.5% Series F Cumulative Convertible Perpetual Preferred Shares (the "Preferred Shares") for an aggregate total of $143.4 million, including accrued dividends.

Bing Chen, President and Chief Executive Officer of Seaspan, commented, "The redemption of the Series F preferred shares is consistent with our capital allocation strategy and reflects management's ongoing commitment to enhance the company's capital structure and build towards an investment grade credit rating."

HONG KONG, July 17, 2018 /PRNewswire/ -- Seaspan Corporation (SSW) ("Seaspan" or the "Company"), the world's largest independent containership owner operator, today announced the exercise by certain affiliates of Fairfax Financial Holdings Limited (collectively, "Fairfax") of all the warrants issued to Fairfax on the closing of Fairfax's first debenture investment of $250 million on February 14, 2018, resulting in the acquisition by Fairfax of approximately 38.46 million Class A common shares at an exercise price of $6.50 per share for proceeds of $250 million.

The exercise of these warrants is part of a definitive agreement with Fairfax, previously announced on May 31, 2018, which provides that Fairfax will immediately exercise all of the warrants that will be issued to Fairfax in January 2019 in connection with the closing of Fairfax's second debenture investment of $250 million pursuant to the subscription agreement dated March 13, 2018. Upon exercise of the warrants in January 2019, Fairfax will acquire another approximately 38.46 million Class A common shares at an exercise price of $6.50 per share, for an aggregate exercise price of $250 million, bringing its total equity investment in Seaspan to $500 million.

In consideration for the early exercise by Fairfax of these two tranches of warrants, which by their terms would not have expired until 2025 and 2026, respectively, Seaspan issued today to Fairfax additional warrants to acquire 25 million Class A common shares at an exercise price of $8.05 per share, which warrants have a seven year term. In addition, Seaspan and Fairfax have amended the terms of the existing debentures that were issued on February 14, 2018 and the new debentures that will be issued on or about January 15, 2019 to allow Fairfax to call for early redemption of some or all of those debentures on each respective anniversary date of issuance.

The definitive agreement relating to the issuance by Seaspan of debentures and warrants to Fairfax in January 2019 provides for customary closing conditions. For additional information, please refer to Seaspan's report issued on Form 6-K to be filed on July 16, 2018.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release is not an offer of securities for sale in the United States, and the securities may not be offered or sold in the United States absent registration or an exemption from the registration requirements. The securities have not been registered under the United States Securities Act of 1933, as amended.

HONG KONG, Feb. 14, 2018 /PRNewswire/ - Seaspan Corporation (SSW) ("Seaspan" or the "Company") announced today that it has closed the previously announced US$250 million investment from certain subsidiaries of Fairfax Financial Holdings Limited (collectively, "Fairfax"). The investment from Fairfax is comprised of 5.5% interest bearing debentures (the "Debentures") and Class A Common Share purchase warrants (the "Warrants"). Seaspan intends to use the proceeds from the investment to fund future growth initiatives, debt repayment and for general corporate purposes.

HONG KONG, Feb. 5, 2018 /PRNewswire/ - Seaspan Corporation (SSW) announced today that it has purchased two 2006-built geared 2500 TEU containerships and entered into fixed rate time charter agreements for the vessels with Maersk Line A/S ("Maersk"). The time charters will be for a term of four years with options for up to an additional two years at increasing charter rates. Seaspan took delivery of one of the vessels today and expects to take delivery of the second vessel by the end of the month. Upon delivery of both vessels Seaspan's operating and managed fleet, including newbuilds, will expand to 112 vessels, of which 18 vessels will be in Seaspan's managed fleet.

Bing Chen, President and Chief Executive Officer of Seaspan said, "We are proud to continue to serve an industry leader like Maersk. As the reliable solution provider, we have proven our ability, throughout the industry cycles, to grow our fleet and expand our relationship with the world's largest liner company. Seaspan remains focused on providing best in class solutions and expanding our value-added service offerings to our customers. Given our solid balance sheet, talented employees and operational strength we are well positioned to capture growth opportunities in today's market, and reinforce our industry leading position."

HONG KONG, Jan. 9, 2018 /PRNewswire/ - Seaspan Corporation (SSW) announced today that the Company's Board of Directors has declared cash dividends on its common and preferred shares as followed in this link

HONG KONG, Dec. 11, 2017 /PRNewswire/ - Seaspan Corporation (SSW) announced today that it has accepted delivery of the MSC Madhu B, an 11000 TEU containership that will commence a bareboat charter with MSC Mediterranean Shipping Company S.A. ("MSC") for a period of seventeen years. Upon completion of the bareboat charter period, MSC is obligated to purchase the vessel for a pre-determined amount.

The MSC Madhu B, which was constructed at HHIC-PHIL INC., is Seaspan's fourth 11000 TEU SAVER design containership in a series of five ships under bareboat charter to MSC. This is Seaspan's fifth vessel delivery in 2017, expanding Seaspan's operating fleet to 89 vessels.

HONG KONG, Oct. 2, 2017 /PRNewswire/ - Seaspan Corporation ("Seaspan") (SSW) announced today that it has priced its previously announced $80 million public offering of senior unsecured notes due 2027 (the "Notes"). The Notes will mature on October 30, 2027 and will bear interest at a rate of 7.125% per year, payable quarterly on each January 30, April 30, July 30 and October 30, beginning on January 30, 2018. Seaspan has granted the underwriters of the offering a 30-day option to purchase up to an additional $12 million of the Notes on the same terms and conditions. The offering is expected to close on October 10, 2017.

Seaspan intends to use the net proceeds from the offering to repay existing indebtedness and for general corporate purposes. Following the offering, Seaspan intends to file an application to list the Notes on The New York Stock Exchange.

RBC Capital Markets and Stifel are acting as joint book-running managers for the offering. FBR, Janney Montgomery Scott and Incapital are acting as joint lead managers for the offering. BB&T Capital Markets, Ladenburg Thalmann & Co. Inc., William Blair, CL King and Maxim Group LLC are acting as co-managers for the offering.

HONG KONG, Sept. 28, 2017 /PRNewswire/ - Seaspan Corporation (SSW) announced today that it has accepted delivery of the MSC Nitya B, an 11000 TEU containership that will commence a bareboat charter with MSC Mediterranean Shipping Company S.A. ("MSC") for a period of seventeen years. Upon completion of the bareboat charter period, MSC is obligated to purchase the vessel for a pre-determined amount.

The MSC Nitya B, which was constructed at HHIC-PHIL INC., is Seaspan's third 11000 TEU SAVER design containership in a series of five ships under bareboat charter to MSC. This is Seaspan's fourth vessel delivery in 2017, expanding Seaspan's operating fleet to 88 vessels.

HONG KONG, China, June 30, 2017 /PRNewswire/ - Seaspan Corporation (SSW) announced today that it is continuing its discussion of employment agreement modifications with Gerry Wang, its Chief Executive Officer, Co-Chairman and Co-Founder, and expects to conclude discussions prior to the end of July.

Larry Simkins, a member of the Board of Directors and Executive Committee of Seaspan and President, Chief Executive Officer and Director of the Washington Companies ("WashCo"), commented, "As Seaspan's largest shareholder, WashCo is committed to building on the Company's unsurpassed containership leasing platform to take advantage of  improving industry fundamentals. Our historical support has been consistent since the Company's IPO more than ten years ago and WashCo's priority remains to create sustainable long-term value for all shareholders."

WashCo, through its affiliates Deep Water Holdings, LLC and Copper Lion, Inc., is Seaspan's founding shareholder and largest shareholder today.  The Washington Companies were founded by industrialist and entrepreneur Dennis R. Washington and are privately held companies active in the core industries of rail and marine transportation, mining, aviation, environmental remediation and restoration services, and heavy equipment sales and service. 

In April 2017 Seaspan and Mr. Wang amended his employment agreement to remove transaction fees, and, in recognition of the elimination of such fees, agreed that Seaspan's Compensation Committee and Mr. Wang would negotiate in good faith to further modify Mr. Wang's employment agreement and overall compensation package. The parties agreed to use reasonable best efforts to conclude such negotiations by June 30, 2017, and have agreed to extend this timeframe to July 31, 2017. There is no assurance that Seaspan and Mr. Wang will reach any agreement on his employment terms. For now, Mr. Wang's existing employment agreement, entered into in May 2016 and amended in April 2017, continues to apply.

HONG KONG, China, May 26, 2017 /PRNewswire/ - Seaspan Corporation (SSW) announced today that it has accepted delivery of the YM Wind, a 14000 TEU containership that will commence a fixed rate charter with Yang Ming Marine Transport Corp. for a ten-year term with an option to extend for an additional two years. The new containership, which was constructed at CSBC Corporation, Taiwan ("CSBC"), is the ninth 14000 TEU SAVER design containership to join Seaspan's fleet, and expands the company's operating fleet to 89 vessels.

Seaspan has entered into a sale leaseback transaction for the YM Wind which provides gross proceeds of approximately $144 million. The proceeds will be used to pay for the final YM Wind delivery instalment of approximately $75 million, with the remainder used for general corporate purposes including debt repayment. The lease has a term of 12 years, and Seaspan has an option to purchase the vessel at a pre-determined fair value after 9.5 years.

First Quarter 2017 Financial Results

• Revenue decreased by 6.6% to $201.3 million for the quarter ended March 31, 2017, compared to the same period in 2016.
• Earnings (loss) per share, basic and diluted was $0.22 vs last years loss of -$0.06.
  

Gerry Wang, Chief Executive Officer, Co-Chairman and Co-Founder of Seaspan, commented, "During the first quarter, our modern fleet on long-term time charters continued to provide Seaspan with a solid and stable foundation. Complementing our $5.0 billion contracted revenue backlog, Seaspan's short-term fleet allows the company to benefit from a containership market recovery, which we believe has begun."

Mr. Wang added, "We have seen significant improvement in charter rates over the past two months. In particular, Panamax charter rates have more than doubled to approximately $10,000 per day. As we progress through the year, our focus remains on seeking opportunities to further solidify the company's industry leadership for the long-term value of shareholders."

HONG KONG, April 11, 2017 /PRNewswire/ - Seaspan Corporation (SSW) announced today that the Company's Board of Directors has declared cash dividends on its common and preferred shares as follows:

Class A Common SSW $0.125 per share from January 1, 2017 to March 31 2017, a record date of April 20, 2017 and a payment date of May 1st 2017.

HONG KONG, China, Jan. 11, 2017 /PRNewswire/ - Seaspan Corporation (SSW) announced today that the Company's Board of Directors has declared cash dividends on its common and preferred shares as follows:

Third Quarter 2016 Financial Results

• Revenue was $224,875 vs. last years $212,861.
• Earnings  (loss) per share, basic and diluted was $(1.86) vs. last years gain of $0.07.

Gerry Wang, Chief Executive Officer, Co-Chairman and Co-Founder of Seaspan, commented, "We continued to enhance our liquidity position and fund our newbuild program by accessing over $400 million in capital during the third quarter, bringing total capital raised year-to-date to over $1.5 billion. Our continued ability to access diverse sources of capital on attractive terms, from multiple markets and geographies, is one of the key factors that differentiates us from competitors."

Mr. Wang added, "During the third quarter, we continued to modernize our fleet with the delivery of our eleventh 10000 TEU SAVER containership, which commenced a five-year fixed-rate time charter with Maersk Line.  This represents the fifth newbuilding vessel that has been delivered to Seaspan this year.  We are also very pleased with the success of our cost control measures that resulted in a decline in our ship operating expenses while our fleet ownership days continued to increase."

Mr. Wang concluded, "Seaspan has grown through periods of adversity to become the world's largest independent containership owner and lessor.  With future contracted revenue of over $5 billion and over $500 million in liquidity, we believe that Seaspan is well positioned to capitalize on opportunities that may arise due to industry challenges. Consistent with our past success, we intend to remain disciplined in pursuing opportunities with a focus on creating long-term value."

HONG KONG, China, Sept. 9, 2016 /PRNewswire/ - Seaspan Corporation (SSW) announced today that it accepted delivery of a 10000 TEU containership, the Maersk Genoa. The new containership, which was constructed at Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd., is Seaspan's eleventh 10000 TEU SAVER design containership and fifth delivery in 2016.

The Maersk Genoa will commence a five-year, fixed-rate time charter with Maersk Line A/S ("Maersk"). Maersk may extend the charter with two consecutive one-year options.  The ship is the second of a total of two 10000 TEU SAVER design vessels to be chartered by Seaspan to Maersk. The delivery of the Maersk Genoa expands the Company's operating fleet to 89 vessels.

About Seaspan

Seaspan provides many of the world's major shipping lines with creative outsourcing alternatives to vessel ownership by offering long-term leases on large, modern containerships combined with industry leading ship management services. Seaspan's managed fleet consists of 115 containerships representing a total capacity of over 920,000 TEU, including 12 newbuilding containerships on order scheduled for delivery to Seaspan and third parties by the end of 2017.  Seaspan's current operating fleet of 89 vessels has an average age of approximately six years and average remaining lease period of approximately five years, on a TEU weighted basis.

HONG KONG, China, Aug. 25, 2016 /PRNewswire/ - Seaspan Corporation ("Seaspan") (NYSE: SSW) announced today that the sale of its previously announced public offering of 3,200,000 8.20% Series G Cumulative Redeemable Perpetual Preferred Shares (the "Series G Preferred Shares") closed today for gross proceeds of $80 million.

Seaspan intends to use the net proceeds of the offering for general corporate purposes, which may include funding acquisitions (which may include equity interests in Greater China Intermodal Investments LLC ("GCI") or assets of GCI), funding capital expenditures on existing newbuild vessels and debt repayments.

ICBC International Securities Limited ("ICBC International"), a wholly owned subsidiary of the Industry and Commercial Bank of China Limited, acted as sole underwriter for the offering.

HONG KONG, China, Aug. 17, 2016 /PRNewswire/ - Seaspan Corporation ("Seaspan") (NYSE: SSW) announced today that it plans to offer shares of its Series G Cumulative Redeemable Perpetual Preferred Shares (the "Series G Preferred Shares") in a registered public offering pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission.

ICBC International Securities Limited ("ICBC International"), a wholly owned subsidiary of the Industry and Commercial Bank of China Limited, will act as sole underwriter for the offering. ICBC International will offer the Series G Preferred Shares to institutional investors and other professional investors located in Asia.

Seaspan intends to use the net proceeds of the offering for general corporate purposes, which may include funding acquisitions (which may include equity interests in Greater China Intermodal Investments LLC ("GCI") or assets of GCI), funding capital expenditures on existing newbuild vessels and debt repayments.

HONG KONG, CHINA, Aug. 11, 2016 /PRNewswire/ - Seaspan Corporation ("Seaspan") (NYSE: SSW) announced today that the sale of its previously announced public offering of 9,000,000 7.875% Series H Cumulative Redeemable Perpetual Preferred Shares (the "Series H Preferred Shares") closed today for gross proceeds of $225 million. The underwriters retain an option, which expires on September 2, 2016, to purchase up to an additional 1,350,000 Series H Preferred Shares. 

Seaspan intends to use the net proceeds of the offering for general corporate purposes, which may include funding acquisitions (which may include equity interests in Greater China Intermodal Investments LLC ("GCI") or assets of GCI), funding capital expenditures on existing newbuild vessels and debt repayments. Seaspan has filed an application to list the Series H Preferred Shares on The New York Stock Exchange. 

HONG KONG, Aug. 4, 2016 /PRNewswire/ - Seaspan Corporation ("Seaspan") (SSW) announced today that it plans to offer shares of its Series H Cumulative Redeemable Perpetual Preferred Shares (the "Series H Preferred Shares") in a registered public offering pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission.

Seaspan intends to use the net proceeds of the offering for general corporate purposes, which may include funding acquisitions (which may include equity interests in Greater China Intermodal Investments LLC ("GCI") or assets of GCI), funding capital expenditures on existing newbuild vessels and debt repayments. Following the offering, Seaspan intends to file an application to list the Series H Preferred Shares on The New York Stock Exchange.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley, J.P. Morgan, RBC Capital Markets and Citigroup Global Markets Inc. will act as joint book-running managers for the offering. Janney Montgomery Scott, BB&T Capital Markets, Ladenburg Thalmann, Wunderlich, FBR and Incapital will act as co-managers for the of

HONG KONG, Aug. 4, 2016 /PRNewswire/ - Seaspan Corporation ("Seaspan") (SSW) announced today that it has priced its previously announced $225 million public offering of its 7.875% Series H Cumulative Redeemable Perpetual Preferred Shares (the "Series H Preferred Shares") at $25 per share. Seaspan has granted the underwriters of the offering a 30-day option to purchase up to an additional $33.75 million of Series H Preferred Shares on the same terms and conditions. The offering is expected to close on August 11, 2016.

Seaspan intends to use the net proceeds of the offering for general corporate purposes, which may include funding acquisitions (which may include equity interests in Greater China Intermodal Investments LLC ("GCI") or assets of GCI), funding capital expenditures on existing newbuild vessels and debt repayments. Following the offering, Seaspan intends to file an application to list the Series H Preferred Shares on The New York Stock Exchange.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley, J.P. Morgan, RBC Capital Markets and Citigroup Global Markets Inc. are acting as joint book-running managers for the offering. Janney Montgomery Scott, BB&T Capital Markets, Ladenburg Thalmann, Wunderlich, FBR and Incapital are acting as co-managers for the offering.

Second Quarter 2016 Financial Results

• Revenues were up 12.6% at $224.3 million from last years same quarter of $199.1 million.
• EPS Basic and Diluted was $0.30 vs last years $0.22.

Gerry Wang, Chief Executive Officer, Co-Chairman and Co-Founder of Seaspan, commented, "We continued to generate strong financial and operational results in the second quarter, which was defined by a series of transactions that strengthened our balance sheet and positioned us for further growth. Seaspan secured in excess of $1.0 billion in new capital during the second quarter, comprised of loan, lease and equity financings. Our continued ability to access capital from diverse sources is a strong endorsement of our stress tested business model and disciplined growth strategy."

Mr. Wang, added, "During the second quarter, we expanded our fleet with the delivery of our eighth 14000 TEU SAVER design containership, which commenced a ten-year fixed-rate contract with Yang Ming. We also grew our operating fleet by entering into leasing arrangements for two newly-delivered vessels that were previously owned by GCI and constructed under our supervision. Each of these vessels has been contracted for long-term fixed-rate charters. Finally, at the end of the second quarter, Seaspan acquired two newbuilding 11000 TEU vessels from GCI and their associated 17-year charters with MSC. With these actions, we have taken significant steps to ensure the stability of our cash flows while increasing our position as the world's largest independent owner and lessor of containerships."

HONG KONG, CHINA, July 12, 2016 /PRNewswire/ - Seaspan Corporation (SSW) announced today that the Company's Board of Directors has declared cash dividends on its common and preferred shares as follows:

HONG KONG, CHINA, June 29, 2016 /PRNewswire/ - Seaspan Corporation ("Seaspan") (SSW) announced today that it has acquired two newbuilding 11000 TEU vessels from Greater China Intermodal Investments LLC ("GCI") for a total purchase price of $195.6 million. These vessels will commence 17-year bareboat charters with MSC Mediterranean Shipping Company S.A. ("MSC") upon their respective deliveries, collectively producing annual cash receipts of approximately $17.7 million in the first full year of operation. MSC is obligated to purchase the vessels for a pre-determined amount at the end of their respective charters. These two vessels are sister ships to the three vessels Seaspan has scheduled for delivery in 2017 and chartered to MSC.

Seaspan will assume a total of approximately $88.1 million in remaining instalments under the shipbuilding contracts for these vessels as partial consideration for the purchase price. The balance under Seaspan's demand loan with GCI will be reduced by $107.5 million to fund the remainder of the purchase price. 

Seaspan has entered into a 17-year lease financing arrangement with an Asian-based leasing company with total commitments of approximately $168 million to partially fund the acquisition, construction and delivery of the two vessels. Including this financing, Seaspan has accessed nearly $1.2 billion in loan, lease and equity financings from Asian-based sources in the past twelve months.

The acquisition and related financing are expected to be accretive to Seaspan's earnings per share and distributable cash flow once the vessels are delivered.

GCI is a joint venture among Seaspan, The Carlyle Group, Blue Water Commerce LLC (which is controlled by Seaspan's largest shareholder, Dennis Washington) and Tiger Management Limited (which is controlled by Seaspan director Graham Porter). Seaspan holds an approximate 11% interest in GCI. The transaction has been approved by the independent Governance and Conflicts Committee established by Seaspan's board of directors. The Committee retained independent legal and financial advisors to assist in its evaluation of the transaction.

CALCULATION OF REGISTRATION FEE

HONG KONG, CHINA--(Marketwired - May 27, 2016) - Seaspan Corporation (SSW) announced today that it accepted delivery of a 14000 TEU containership, the YM Width. The new containership, which was constructed at CSBC Corporation, Taiwan ("CSBC") is Seaspan's eighth 14000 TEU SAVER design containership and fourth delivery in 2016. This is the second 14000 TEU vessel using Seaspan's fuel-efficient SAVER design constructed at CSBC.

The YM Width will commence a ten-year, fixed-rate time charter with Yang Ming Marine Transport Corp. ("Yang Ming"). Yang Ming may extend the charter for up to an additional two years. The ship is the eighth of a total of nine 14000 TEU SAVER design vessels to be chartered to Seaspan by Yang Ming. The delivery of the YM Width expands the Company's operating fleet to 89 vessels.

CALCULATION OF REGISTRATION FEE

We are offering up to 5,000,000 of our Class A common shares in this offering. We have granted the underwriters an option to purchase up to 750,000 additional Class A common shares. Our chief executive officer and affiliates of one of our directors and of Dennis Washington have committed to purchase directly from us, at the public offering price, an aggregate of $15 million of additional shares of our Class A common stock concurrently with the closing of this offering. We refer to this separate sale as the concurrent sale. The shares sold in the concurrent sale will not be subject to any underwriting discounts or commissions. Please read “Underwriting” for more information.

Our Class A common shares are listed on The New York Stock Exchange under the symbol “SSW.” The last reported sale price of our Class A common shares on The New York Stock Exchange on May 20, 2016 was $16.76 per share.

HONG KONG, CHINA--(Marketwired - Apr 21, 2016) - Seaspan Corporation (SSW) (the "Company") announced today that David Spivak is joining the Company as its Chief Financial Officer, starting May 2, 2016. Mark Chu will continue to serve as interim CFO until David's arrival, whereupon Mark will continue in his current roles as Vice President, Corporate Development and General Counsel.

David has over 20 years of corporate finance and global capital markets experience. From 1995 to 2012, he worked at Citigroup, serving in various roles, including as a Managing Director in the Investment Banking and Equity Capital Markets Groups as well as the Canadian Head of Global Capital Structuring and Chief Operating Officer of Citigroup Global Markets Canada. From 2005 to 2009, David was based in New York and led Citigroup's equity capital markets business in the aircraft leasing, maritime and SPAC sectors. Most recently, he served as President and Founder of Brockstreet Consulting, where he advised companies on corporate finance matters.

David holds a Bachelor of Commerce (Honours) degree with Distinction from the University of Manitoba and an MBA with High Honors from the University of Chicago. He is a Certified Public Accountant (inactive) and currently serves as a Director of Höegh LNG Partners LP.

Gerry Wang, Chief Executive Officer, Co-Chairman and Co-Founder of Seaspan, stated, "We are pleased to welcome David to Seaspan as our new CFO. He has extensive corporate finance and capital markets experience and has been a trusted advisor to the company for over 10 years. We also thank Mark for his leadership as interim Chief Financial Officer and for his ongoing contributions to Seaspan."

Mr. Spivak added, "I am looking forward to joining Seaspan. The Company has grown significantly since its initial public offering in 2005 and has a proven business model and long track record of innovation."

HONG KONG, CHINA--(Marketwired - Jan 12, 2016) - Seaspan Corporation (SSW) announced today that the Company's Board of Directors has declared cash dividends on its common and preferred shares as follows:

HONG KONG, CHINA--(Marketwired - Oct 13, 2015) - Seaspan Corporation (SSW) announced today that the Company's Board of Directors has declared cash dividends on its common and preferred shares as follows:

First Quarter 2015 Financial Results

• Revenue for the first quarter increased from $188,547 vs. last years same quarter of $167,983.
• Earnings per share, basic and diluted was $0.08 vs. last years same quarter of $0.03.

Gerry Wang, Chief Executive Officer, Co-Chairman and Co-Founder of Seaspan, commented, "During the first quarter, our growing fleet enabled the Company to increase revenue and generate strong and stable cash flow. Subsequently, we took delivery of our first two 14000 TEU SAVER design containerships and commenced an important commercial relationship with Yang Ming, both important milestones for our company. In April, we also entered into transactions for seven newbuildings, five of which are on long-term charter agreements. These transactions increase our owned and managed fleet to 118 vessels. With a strong and flexible capital structure, we remain well positioned to capitalize on growth opportunities, as we continue to provide leading liner companies with large, efficient containerships."

Mr. Wang added, "Complementing our growth strategy, we continue to take advantage of our stable business model to return capital to shareholders. We are pleased to have declared a $0.375 per share common dividend for the first quarter, representing a 9% increase over the fourth quarter 2014 dividend and a 275% increase since March 2010."

SEASPAN CORPORATION

Consolidated Statements of Operations

(Expressed in thousands of United States dollars, except per share amounts)

Years ended December 31, 2014, 2013 and 2012

HONG KONG, CHINA--(Marketwired - January 14, 2015) - Seaspan Corporation (NYSE: SSW) reports the MOL Express, a 4,600 TEU container vessel which went aground in Tateyama Harbour, Japan on January 11, was successfully refloated today.

The company is grateful there were no crew injuries and no environmental consequences from this incident. Seaspan brought in some of the best salvage experts who worked tirelessly to successfully refloat the vessel at 10:55 a.m. 14^th Jan, local time.

An investigation into the cause of the grounding is underway.

The vessel is currently on charter to MOL, is managed by Seaspan Corporation, and is owned by our affiliate GCI.

Seaspan would like to thank all those involved with the successful refloating effort.

HONG KONG, CHINA--(Marketwired - January 13, 2015) - Seaspan Corporation (NYSE: SSW) announced today that the Company's Board of Directors has declared cash dividends on its common and preferred shares as follows:

HONG KONG, CHINA--(Marketwired - January 13, 2015) - Seaspan Corporation (NYSE: SSW) reports the MOL Express, a 4,600 TEU container vessel went aground in Tateyama Harbour, Japan on January 11, 2015.

There were no reported crew injuries and all preliminary reports indicate the hull is in a stable condition, and no environmental damage has occurred. Seaspan and MOL, with the assistance of salvage experts, are working on refloating the vessel and restoring it to its original condition. All parties involved are working closely with the appropriate authorities.

The vessel is currently on charter to MOL, is managed by Seaspan Corporation, and is owned by Greater China Intermodal Investments LLC, a joint-venture between the Seaspan Corporation, the Carlyle Group, and affiliates of the Washington family and Tiger Group Investments.

The Company will provide further information on this incident as it becomes available.

HONG KONG, CHINA--(Marketwired - Sep 12, 2014) - Seaspan Corporation ("Seaspan") (SSW) announced today that Yang Ming Marine Transport Corp. ("Yang Ming") has confirmed the term of the fixed-rate time charters for the five 14000 TEU SAVER design containerships currently being constructed at CSBC Corporation will be extended to ten years with one two-year option. Two of these vessels previously have been allocated to Seaspan and three have been allocated to Greater China Intermodal Investments LLC ("GCI") under the right of first refusal agreement among Seaspan, GCI and Blue Water Commerce LLC.

The option that Yang Ming held to purchase up to five 14000 TEU newbuilding vessels currently being constructed at Hyundai Heavy Industries has expired, and therefore all five of these 14000 TEU newbuilding vessels will also be time chartered to Yang Ming for ten years with one two-year option. Three of these vessels previously have been allocated to Seaspan and two have been allocated to GCI under the right of first refusal agreement.

Gerry Wang, Chief Executive Officer, Co-Chairman and Co-Founder of Seaspan, commented, "With today's agreement, Yang Ming confirmed Seaspan will build and manage a total of 15 SAVER design vessels for Yang Ming under 10+2-year fixed-rate time charters. This will further increase Seaspan's contracted revenue stream, enhance its earnings power, and strengthen Seaspan's relationship with one of the premier liner companies."

HONG KONG, CHINA--(Marketwired - Sep 8, 2014) - Seaspan Corporation ("Seaspan") (SSW) announced today that it has entered into five-year, fixed-rate time charters with two consecutive one-year options with a leading container liner company for the previously announced four 10000 TEU SAVER design vessels to be constructed at Jiangsu New Yangzi Shipbuilding Co., Ltd. and Jiangsu Yangzi Xinfu Shipbuilding Co. Ltd. (collectively "YZJ"). Two of the vessels previously were allocated to Seaspan and two were allocated to Greater China Intermodal Investments LLC ("GCI") under the right of first refusal agreement between Seaspan, GCI and Blue Water Commerce LLC. The finalization of these time charters has increased Seaspan's committed future revenue by over $130 million, to a total of $6.1 billion for time charter agreements currently in effect, assuming no renewals or extensions.

In addition, Seaspan announced today that it has entered into an agreement with YZJ under which Seaspan has converted its remaining options to acquire up to four 10000 TEU SAVER design vessels to be constructed at YZJ into options to acquire up to six 10000 TEU or 14000 TEU SAVER design vessels, with delivery dates in 2017 and 2018, resulting in 27 potential newbuildings to be constructed at YZJ for Seaspan and GCI since the beginning of 2011.

Gerry Wang, Chief Executive Officer, Co-Chairman and Co-Founder of Seaspan, commented, "All of Seaspan's newbuildings have now been signed to attractive fixed rate time charters with leading liner operators, consistent with our focus on generating strong and stable cash flow for Seaspan's shareholders. Complementing this success, we are pleased to continue to take steps to position Seaspan to capitalize on the strong demand for Seaspan's SAVER design and the need for large, fuel efficient containerships."

HONG KONG, CHINA--(Marketwired - Jul 15, 2014) - Seaspan Corporation (SSW) announced today that the Company's Board of Directors has declared cash dividends on its common and preferred shares as follows:

Seaspan Corporation

Class A Common Shares

Having an Aggregate Offering Price of Up to $75,000,000

CALCULATION OF REGISTRATION FEE

Seaspan Corporation

6.375% Notes due 2019

We are offering $300,000,000 aggregate principal amount of our 6.375% Notes due April 30, 2019 (the “Notes” or our “Notes”).

We have granted the underwriters the option to purchase, exercisable during the 30-day period beginning on the date of this prospectus supplement, up to an additional $45,000,000 aggregate principal amount of the Notes.

The Notes will bear interest from the date of original issue until maturity at a rate of 6.375% per year. Interest will be payable quarterly in arrears on the 30th day of January, April, July and October of each year, commencing on July 30, 2014. The Notes will be issued in minimum denominations of $25 and integral multiples of $25 in excess thereof.

We intend to apply to have the Notes listed on the New York Stock Exchange. Currently, there is no public market for the Notes.

The Notes will be our unsubordinated unsecured obligations and will rank senior to any of our future subordinated debt and rank equally in right of payment with all of our existing and future unsecured and unsubordinated debt. The Notes will effectively rank junior to our existing and future secured debt, to the extent of the value of the assets securing such debt as well as to existing and future debt of our subsidiaries.

Seaspan Corporation

  % Notes due 2019

We are offering $ aggregate principal amount of our % Notes due April , 2019 (the “Notes” or our “Notes”).

We have granted the underwriters the option to purchase, exercisable during the 30-day period beginning on the date of this prospectus supplement, up to an additional $ aggregate principal amount of the Notes.

The Notes will bear interest from the date of original issue until maturity at a rate of % per year. Interest will be payable quarterly in arrears on the 30th day of January, April, July and October of each year, commencing on July 30, 2014. The Notes will be issued in minimum denominations of $25 and integral multiples of $25 in excess thereof.

We intend to apply to have the Notes listed on the New York Stock Exchange. Currently, there is no public market for the Notes.

The Notes will be our unsubordinated unsecured obligations and will rank senior to any of our future subordinated debt and rank equally in right of payment with all of our existing and future unsecured and unsubordinated debt. The Notes will effectively rank junior to our existing and future secured debt, to the extent of the value of the assets securing such debt as well as to existing and future debt of our subsidiaries.

SEASPAN CORPORATION

Consolidated Statements of Operations

(Expressed in thousands of United States dollars, except per share amounts)

Years ended December 31, 2013, 2012 and 2011

Fourth Quarter 2013 Financial Results

• Revenue was $172 million an increased by 1.3% for the quarter 2013 from last years $169.8 Million.
• Earnings per share, diluted was $0.64 from last years $0.59.

Gerry Wang, Chief Executive Officer, Co-Chairman, and Co-Founder of Seaspan, commented, "During 2013, our fleet performed as expected, generating strong and stable results. We also took important steps in 2013 to strengthen our capital structure and credit strength through capital markets and financing transactions that created capacity for growth, and through entering into our first unsecured, non-amortizing credit facility. Consistent with our strategy, we continued to successfully use our SAVER design to provide leading liner companies with large, fuel-efficient containerships. In total, we entered into transactions to acquire 29 vessels during the year, which will increase our managed fleet to 105 vessels. We are pleased to commence 2014 with an important transaction that strengthens Seaspan's relationship with MOL and increases the Company's contracted revenue stream."

Mr. Wang continued, "Reflecting the stability of our business model and sizeable cash flows, we once again increased our common share quarterly dividend, and believe we remain well positioned to continue to pursue attractive growth opportunities in a disciplined manner."

Seaspan Corporation

8.25% Series E Cumulative Redeemable Perpetual

Preferred Shares

(Liquidation Preference $25 Per Share)

We are offering 5,000,000 of our 8.25% Series E Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share (the “Series E Preferred Shares”).

Dividends on the Series E Preferred Shares will be cumulative from the date of original issue and will be payable quarterly in arrears on the 30th day of January, April, July and October of each year, when, as and if declared by our board of directors. The initial dividend on the Series E Preferred Shares offered hereby will be payable on April 30, 2014. Dividends will be payable out of amounts legally available therefor at an initial rate equal to 8.25% per annum of the stated liquidation preference.

At any time on or after February 13, 2019, the Series E Preferred Shares may be redeemed, in whole or in part, out of amounts legally available therefor, at a redemption price of $25.00 per share plus an amount equal to all accumulated and unpaid dividends thereon to the date of redemption, whether or not declared.

HONG KONG, CHINA--(Marketwired - Jan. 15, 2014) - Seaspan Corporation (NYSE:SSW) announced today that the Company's Board of Directors has declared cash dividends of $0.59375 per share on its Series C preferred shares (NYSE:SSW.PR.C) and $0.496875 per share on its Series D preferred shares (NYSE:SSW.PR.D) for the period from October 30, 2013 to January 29, 2014. The dividends will be paid on January 30, 2014 to all Series C and Series D preferred shareholders of record as of January 29, 2014.

HONG KONG, CHINA--(Marketwired - Jan. 8, 2014) - Seaspan Corporation ("Seaspan") (NYSE:SSW) announced today that it has entered into a five-year $125 million non-amortizing, fixed rate unsecured loan agreement with a privately held global financial services firm. Seaspan intends to use the proceeds of the loan for general corporate purposes.

Gerry Wang, Chief Executive Officer, Co-Chairman, and Co-Founder of Seaspan, commented, "We appreciate the strong support Seaspan continues to receive from leading institutions due to our credit strength, contracted growth and future opportunities. Following the refinancing of our $1 billion credit facility, we are pleased to enter into our first unsecured, non-amortizing, fixed rate facility, enabling the Company to further its strategy of successfully diversifying and strengthening our capital structure under attractive terms. We intend to seek similar additional debt capital from the private and capital markets in the future to fund our growth."

HONG KONG, CHINA--(Marketwired - Nov. 19, 2013) - Seaspan Corporation ("Seaspan") (NYSE:SSW)(NYSE:SSW.PR.C)(NYSE:SSW.PR.D) announced today that it plans to offer 3,500,000 Class A common shares (the "Common Shares") in a registered public offering.

Seaspan intends to grant the underwriters for the Common Shares offering a 30-day option to purchase up to 525,000 additional Common Shares.

HONG KONG, CHINA--(Marketwired - Nov. 5, 2013) - Seaspan Corporation ("Seaspan") (NYSE:SSW) announced today that it has priced its previously announced $50 million public offering of its 7.95% Series D Cumulative Redeemable Perpetual Preferred Stock (the "Series D Preferred Shares") (NYSE:SSW PR D) at $25 per share. Seaspan has granted the underwriters of the offering a 30-day option to purchase up to an additional $7.5m of Series D Preferred Shares on the same terms and conditions. Dividends are payable on the Series D Preferred Shares at a rate of 7.95% per annum of the $25 stated liquidation preference. The offering is expected to close on November 8, 2013.

Third Quarter 2013 Financial Results

• Revenue increased by 1.4% for the three months ended September 30, 2013 over the same period for 2012.
• Earnings per share, basic and Diluted was $0.28 vs. last years $0.30.

Gerry Wang, Chief Executive Officer, Co-Chairman, and Co-Founder of Seaspan, commented, "Seaspan generated stable third quarter results and took important steps to grow the Company's fleet and contracted revenue stream. We continued to use our SAVER design to partner with leading liner companies and provide them with large, fuel efficient containerships. During the third quarter, we entered into transactions for 15 newbuildings that will increase our managed fleet to 104 vessels. We remain in a strong position to execute our disciplined growth strategy, while returning capital to shareholders in the form of dividends."

HONG KONG, CHINA--(Marketwired - Oct. 15, 2013) - Seaspan Corporation (NYSE:SSW) announced today that the Company's Board of Directors has declared cash dividends of $0.59375 per share on its Series C preferred shares (NYSE:SSW.PR.C) and $0.496875 per share on its Series D preferred shares (NYSE:SSW.PR.D) for the period from July 30, 2013 to October 29, 2013. The dividends will be paid on October 30, 2013 to all Series C and Series D preferred shareholders of record as of October 29, 2013.

HONG KONG, CHINA--(Marketwired - Oct. 10, 2013) - Seaspan Corporation (NYSE:SSW) announced today that it will no longer proceed with its previously announced public offerings of common shares and convertible notes as it would not be in the best interests of our shareholders.

HONG KONG, CHINA--(Marketwired - Oct. 7, 2013) - Seaspan Corporation (NYSE:SSW) announced today that it plans to offer 5,700,000 Class A Common Shares (the "Common Shares") and $125,000,000 in aggregate principal amount of Convertible Notes due 2018 in concurrent public offerings. In addition to the 5,700,000 shares Seaspan is offering (the "Primary Offering"), a selling shareholder will offer 300,000 shares (the "Secondary Offering").

Seaspan and the selling shareholder intend to grant the underwriters for the Common Share offering a 30-day option to purchase up to an additional 900,000 shares, up to 855,000 shares of which would be offered by Seaspan in the Primary Offering, and up to 45,000 shares of which would be offered by the selling shareholder in the Secondary Offering. Seaspan intends to grant the underwriters for the Convertible Note offering a 30-day option to purchase up to an additional $18,750,000 principal amount of Convertible Notes.

The Convertible Notes are expected to mature in 2018. They will be convertible into cash, Common Shares or any combination thereof at Seaspan's election. The convertible notes will not be redeemable prior to maturity, but holders will have the right to cause Seaspan to repurchase them for cash upon certain corporate events. The coupon, conversion rate and specific terms of the Convertible Notes will be determined at pricing.

In addition to the Primary Offering and Secondary Offering of Common Shares, Seaspan expects to issue and lend 2,530,000 Common Shares to an affiliate of Deutsche Bank Securities Inc., an underwriter in the Convertible Notes offering, who will sell the Borrowed Shares in the public offering (the "Borrowed Shares Offering"). The Borrowed Shares Offering is intended to facilitate the offering of Convertible Notes.

Seaspan intends to use the net proceeds it receives from the Primary Offering and the Convertible Note Offering for general corporate purposes, which may include funding vessel acquisitions. Seaspan will not receive any proceeds from the Secondary Offering or from the Borrowed Shares Offering, but will receive a nominal lending fee for the use of the borrowed Common Shares, which Seaspan intends to use for general corporate purposes.

HONG KONG, CHINA--(Marketwired - Sept. 30, 2013) - Seaspan Corporation (NYSE:SSW) announced today that it has exercised options for the construction of five (5) 10,000 TEU class containerships at Jiangsu New Yangzi Shipbuilding Co., Ltd. and Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd. These vessels are scheduled for delivery in 2015 and will be constructed using Seaspan's fuel efficient SAVER design. Seaspan expects to sign long-term time charters for these vessels with one of the liner majors in the near term. The vessels remain subject to allocation in relation to Seaspan's right of first refusal agreement with Greater China Intermodal Investments LLC, an investment vehicle established by Seaspan, an affiliate of global alternative asset manager The Carlyle Group, and Blue Water Commerce, LLC.

HONG KONG, CHINA--(Marketwired - Sept. 16, 2013) - Seaspan Corporation (NYSE:SSW) announced today that its Board of Directors has authorized the repurchase of up to $25 million of its 9.5% Series C preferred shares. The share repurchase authorization expires in July 2014 and repurchase activity will depend on factors such as working capital needs, repayment of debt, Series C preferred share price, and economic and market conditions. Share repurchases may be effected from time to time through open market purchases or in privately negotiated transactions, and the repurchase program may be suspended, delayed or discontinued at any time. Seaspan intends to fund Series C preferred share purchases with cash on hand and to enter into a Rule 10b5-1 plan in connection with the share repurchase program.

HONG KONG, CHINA--(Marketwired - Aug. 23, 2013) - Seaspan Corporation (NYSE:SSW) announced today that it has, further to a previously announced binding letter of intent, signed long-term, fixed-rate time charter contracts with Yang Ming Marine Transport Corp. ("Yang Ming") for five 14000 TEU class newbuilding containerships. Concurrent with the signing of the time charter contracts and further to a previously announced commitment, Seaspan has entered into shipbuilding contracts with CSBC Corporation Taiwan ("CSBC") for these five 14000 TEU class containerships. These vessels have an aggregate purchase price of approximately $550 million, are scheduled for delivery in 2016, and have a minimum time charter term of six years. Including this most recent charter, Seaspan expects to manage a total of 15 vessels on charter to Yang Ming.

These five 14000 TEU class newbuilding containerships, which will be constructed using Seaspan's fuel efficient SAVER design, remain subject to allocation in relation to the right of first refusal agreement with Greater China Intermodal Investments LLC, an investment vehicle established by Seaspan, an affiliate of global alternative asset manager The Carlyle Group, and Blue Water Commerce, LLC. Seaspan intends to fund construction of its portion of these newbuilding containerships initially with a portion of the proceeds of its previous Series D preferred share offering and, subsequently over the next few quarters, with debt financing. Seaspan is considering various sources of debt financing to which it has access.

HONG KONG, CHINA--(Marketwired - Aug. 13, 2013) - Seaspan Corporation (NYSE:SSW) announced today that it has signed long-term, fixed-rate time charter contracts with Yang Ming Marine Transport Corp. ("Yang Ming") for the five 14000 TEU class newbuilding containerships Seaspan previously announced are to be built at Hyundai Heavy Industries Co., Ltd. pursuant to shipbuilding contracts entered into during July 2013. The vessels are scheduled for delivery in 2015.

Seaspan also announced that it has entered into commitments with CSBC Corporation Taiwan ("CSBC") to have constructed and to acquire five additional 14000 TEU class containerships for an aggregate purchase price of approximately $550 million. Concurrently with this newbuilding commitment, Seaspan signed a binding letter of intent with Yang Ming to enter into long-term, fixed-rate time charter contracts for these five vessels. Seaspan expects to complete definitive time charter contracts with Yang Ming and definitive shipbuilding contracts with CSBC shortly. These vessels are scheduled for delivery in 2016.

Gerry Wang, Chief Executive Officer, Co-Chairman, and Co-Founder of Seaspan, commented, "We are pleased to partner with Yang Ming, one of the premiere liners in the industry, to place one of the largest recent newbuilding orders and to entrust our technical teams with building and managing their flagships as they modernize their fleet. This order demonstrates our ability to draw upon our financial strength and deep technical and operational expertise to place large scale orders that realize economies of scale for our customers and deliver accretive growth to our shareholders. With this order, our managed fleet including both Seaspan and GCI newbuilds on order, is closing in on 100 ships."

These latest ten 14000 TEU class newbuilding containerships, which will be constructed using Seaspan's fuel efficient SAVER design, remain subject to allocation in relation to the right of first refusal agreement with Greater China Intermodal Investments LLC, an investment vehicle established by Seaspan, an affiliate of global alternative asset manager The Carlyle Group, and Blue Water Commerce, LLC. Seaspan intends to fund construction of its portion of these newbuilding containerships initially with a portion of the proceeds of its previous Series D preferred share offering and, subsequently over the next few quarters, with debt financing. Seaspan is considering various sources of debt financing to which it has access.

Seaspan's commercial arrangements allow Yang Ming to reduce the number of newbuilding containerships to be delivered to Seaspan and chartered to Yang Ming by five vessels (subject to the effect of the right of first refusal described above).

Financial Results for the three and six months ended June 30, 2013.

• Net earnings (loss) $127,154 vs last years ($6749)
• Earnings (loss) per share diluted was $1.35 vs. last years loss of ($0.38).

Gerry Wang, Chief Executive Officer, Co-Chairman, and Co-Founder of Seaspan, commented, "During the first half of 2013, we generated strong and stable results and once again increased our common share dividend."

Mr. Wang continued, "Seaspan continues to capitalize on attractive growth opportunities. We are pleased to have commenced the third quarter by signing a major newbuilding contract and are in the process of finalizing long-term time charter agreements for these vessels. Seaspan's strong balance sheet combined with its technical and operational expertise in large modern containerships position the Company to continue to execute its growth strategy and provide charterers with their desired vessels."Second Quarter Developments

HONG KONG, CHINA--(Marketwired - July 16, 2013) - Seaspan Corporation (NYSE:SSW) announced today that the Company's Board of Directors has declared cash dividends of $0.59375 per share on its Series C preferred shares (NYSE: SSW PR C) and $0.496875 per share on its Series D preferred shares (NYSE: SSW PR D) for the period from April 30, 2013 to July 29, 2013. The dividends will be paid on July 30, 2013 to all Series C and Series D preferred shareholders of record as of July 29, 2013.

HONG KONG, CHINA--(Marketwired - July 4, 2013) - Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of a 4600 TEU containership, the MOL Efficiency. The containership was constructed by Mitsubishi Heavy Industries Ltd. in 2003 and expands the Company's operating fleet to 71 vessels.

The MOL Efficiency is on charter to Mitsui O.S.K. Lines Ltd. ("MOL") under a two-year, fixed-rate time charter. The ship is the sixth of a total of eight vessels to be chartered by Seaspan to MOL.

HONG KONG, CHINA--(Marketwired - June 13, 2013) - Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of a 4600 TEU containership, the MOL Excellence. The containership was constructed by Mitsubishi Heavy Industries Ltd. in 2003 and expands the Company's operating fleet to 70 vessels.

The MOL Excellence is on charter to Mitsui O.S.K. Lines Ltd. ("MOL") under a two-year, fixed-rate time charter. The ship is the fifth of a total of eight vessels to be chartered by Seaspan to MOL.

Fourth Quarter 2012 Results

• Net Revenue was $169.8 million vs last years quarter of 156.1 million an increase of 8.8% year of year.
• Net Earnings was 58,983 vs. last years  23,517 a 150.8% increase 
• Normalized earnings per share, converted⁽¹⁾ (Series A preferred shares converted at $15) $0.27 vs $0.31

Gerry Wang, Chief Executive Officer, Co-Chairman, and Co-Founder of Seaspan, commented, "We are satisfied with the operational and financial results that we achieved during the year of 2012. We are also pleased with the steps we took to further strengthen our balance sheet and capital structure, positioning the Company to take advantage of an attractive acquisition environment. We commenced the year 2013 by entering into two important transactions with MOL and Yang Ming for their large ship requirements. We remain well positioned to continue to execute our disciplined growth strategy."

Mr. Wang continued, "The 25% increase in our dividend for the first quarter of 2013 reflects our financial strength and our confidence in our future. We have increased our quarterly common dividend by 213% sinceMarch 31, 2010."

HONG KONG, CHINA--(Marketwire - July 17, 2012) - Seaspan Corporation (NYSE:SSW) announced today that the Company's Board of Directors has declared a quarterly dividend of $0.59375 per share on its 9.5% Series C preferred shares for the period from April 30, 2012 to July 29, 2012. The dividend will be paid on July 30, 2012 to all 9.5% Series C preferred shareholders of record as of July 27, 2012.

First Quarter 2012 Results

• Revenues increased to $152 million in the first quarter 2012 from $120 million in prior year period
• Non gaap diluted EPS for first quarter 2012 were $0.30 vs $0.24 in prior year period

Gerry Wang, Chief Executive Officer, Co-Chairman, and Co-Founder of Seaspan, commented, "During the first quarter, Seaspan continued to generate strong, stable operational and financial results for shareholders. We also took delivery of two newbuildings during the quarter, increasing our fleet to 67 vessels. Consistent with our strategy, both vessels commenced operations under long-term time charters with a leading liner company."

Mr. Wang added, "Based on our favourable results, our board has declared a $0.25 per share dividend on our Class A common stock for the first quarter, representing a 33% increase. We remain committed to drawing upon our strong and flexible capital structure to further grow our high-quality fleet in a disciplined manner. In achieving this important goal, we intend to continue to emphasize our SAVER vessel design, which we believe provides customers with improved efficiency and operational savings."

Dividends Declared

For the quarter ended March 31, 2012, Seaspan declared a quarterly dividend of $0.25 per Class A common share, representing a total distribution of $15.7 million. The dividend will be paid on June 8, 2012 to all shareholders of record as of May 29, 2012. Because Seaspan adopted a dividend reinvestment plan, or DRIP, the actual amount of cash dividend paid may be less than $15.7 million based on shareholder participation in the DRIP.

HONG KONG, CHINA--(Marketwire - Jan. 12, 2012) - Seaspan Corporation (NYSE:SSW) ("Seaspan") today announced the preliminary results of its tender offer for the purchase of up to 10,000,000 of its Class A common shares at a price of $15.00 per share, which expired at 12:00 midnight, New York City time, on Wednesday, January 11, 2012.

Based on the preliminary count by American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, a total of 21,290,859 shares of Seaspan's Class A common shares were properly tendered and not properly withdrawn, including 1,381,415 shares that were tendered through notice of guaranteed delivery.

In accordance with the terms and conditions of the tender offer, and based on the preliminary count by the depositary, Seaspan expects to accept for purchase 11,300,000 shares of its Class A common shares at a purchase price of $15.00 per share, for an aggregate cost of approximately $169.5 million, excluding fees and expenses relating to the tender offer. The total number of shares expected to be purchased in the tender offer includes an additional 1,300,000 shares purchased pursuant to Seaspan's right to increase the number of shares purchased by no more than 2 percent of its outstanding shares, without amending or extending the tender offer.

The 11,300,000 shares expected to be purchased in the tender offer represent approximately 16 percent of Seaspan's currently issued and outstanding shares of common stock. Based on these preliminary numbers, Seaspan anticipates that, following settlement of the tender offer, it will have approximately 58,367,460 common shares outstanding.