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    Hong Kong's Seaspan Orders 10 LNG-Fuelled Containerships

Summary

This marks Seaspan's first investment in LNG maritime propulsion.

by: Joe Murphy

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Complimentary, NGW News Alert, Natural Gas & LNG News, Asia/Oceania, Liquefied Natural Gas (LNG), Gas for Transport, News By Country, China

Hong Kong's Seaspan Orders 10 LNG-Fuelled Containerships

Hong Kong-based shipowner Seaspan Corp has ordered 10 15,000-teu LNG-fuelled containerships at Korea's Samsung Heavy Industries shipyard, it said on February 12.

The dual-fuel vessels will be chartered out to Israeli shipping group ZIM International Shipping Services under 12-year contracts, to handle trade between Asia and the US east coast.

"Our commitment to ESG principles, carbon reduction, and developing our fleet through increasingly environmental-friendly technologies is signified by our first LNG-powered investment,” Seaspan CEO Bing Chen commented.

The containerships will start to be delivered in the first half of 2023. Their construction will be financed with additional borrowings as well as cash on hand, Seaspan said. The company, a wholly-owned subsidiary of Hong Kong asset management group Atlas Corp, has ordered a total of 17 containerships since December, with a combined cargo capacity of 259,000 teu. Its existing fleet of 127 vessels has a capacity of over 1mn teu.