Speaking at last week's press conference called to discuss its third quarter financial report, Seaspan's ceo Gerry Wang said that all of its charterers continued to 'perform in line with the charter agreements'.

        Wang said that this even applied to troubled German ocean carrier Hapag-Lloyd and under-pressure Chilean carrier, CSAV. In the case of Hapag-Lloyd the executive noted that its shareholders were providing new support; and elsewhere, CSAV had been taken off 'negative watch' by credit rating agency Standard & Poors.

        Moreover, Wang advised his audience that upon the delivery of 27 newbuildings [COSCO - 16 ships; K Line - 7; MOL - 2; CSAV - 2] a significant 90% of Seaspan's contractor revenue would derive from state-controlled Chinese and 'pretty well prepared' Japanese liner companies.

 

                                                                                                                                                                                                      Source:ci-online