Seaspan and offshore company terminate investment agreement

Shipowner Seaspan Corporation and Swiber Holdings now terminate an investment agreement, which would have injected USD 200 million in capital into the crisis-stricken offshore company.

Bing Chen is CEO of shipowner Seaspan, which is now terminating an investment agreement with offshore company Swiber Holdings. Photo: PR/Seaspan

BY SØREN PICO

Published: 07.01.20 at 08:19

Major shipowner Seaspan Corporation will not inject a million-dollar investment into offshore company Swiber Holdings, which is under reconstruction, after all.

The two parties have agreed to terminate a USD 200 million investment agreement announced last spring, as a number of conditions in the agreement have not been met, informs Swiber Holdings in a press statement from Jan. 3.