Seaspan increases operating profits in first quarter

Container carrier Seaspan reported an adjusted operating profit of USD 163.6 mio. in the first quarter. An increase of six percent when compared with the same period last year. The company currently operates 86 vessels.

Photo: Hapag-Lloyd

Seaspan increased its operating profits in the first quarter of 2016 with an adjusted EBITDA of USD 163.6 million, according to the first quarter interim report. It corresponds to an increase of 6.2 percent against the same period last year, where the operating profit came to USD 154 million. Revenue also increased for the company, which owns container vessels and is listed on the New York Stock Exchange. In the first quarter 2016, Seaspan's revenue totaled USD 215.5 million in comparison with USD 188.5 million in 2015.

Seaspan has in the past year benefited especially from more large ships in its fleet, the company took delivery of a 10,000 teu container vessel in the first quarter. The ship is on contract with MOL for eight years at fixed rates. Of the first quarter, which has generally cast dark shadows over the container industry, Seaspan CEO Gerry Wang says the following:

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