NEW YORK-listed shipowner, Seaspan Corporation, announced that Yang Ming Marine Transport of Taiwan has confirmed a 10 year fixed-rate charter extension for the five 14,000-TEU SAVER design vessels being built at Taiwan's CSBC Corporation.

The agreement with Yang Ming for the five vessels includes one two-year option, according to media reports.

Two of these vessels previously have been allocated to Seaspan and three have been allocated to Greater China Intermodal Investments, or GCI, under the right of first refusal agreement among Seaspan, GCI and Blue Water Commerce.

The option that Yang Ming held to purchase up to five 14,000-TEU newbuildings being built at Hyundai Heavy Industries (HHI) has expired, and therefore all five of these 14,000-TEU new vessels will also be time chartered to Yang Ming for 10 years with one two-year option.

The terms were not revealed but Yang Ming was thought to have agreed to take the HHI ships at US$46,000 per day, TradeWinds reported.