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Seaspan lands billion dollar deal with Chinese bank

Container operator Seaspan has entered into an agreement with Chinese bank CEXIM for a credit facility of up to one billion USD to fund new vessels built at Chinese shipyards over the next three years

Photo: Hamborg Havn

Seaspan has secured capital to pursue its aggressive fleet growth as recently announced by container operator. In a corporate statement to the New York Stock Exchange where the company is listed, Seaspan announced that it has signed a framework agreement with the Chinese Export and Import bank (CEXIM) for an export credit facility of up to USD one billion.

If Seaspan wants to build new ships in Chinese shipyards over the next three years, the credit will be made available to the company, which is the world's largest owner of containerships among the so-called non-operating owners (NOO). It is not the first agreement between Seaspan and CEXIM, says CEO and founding member Gerry Vangm in the statement:

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