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SEASPAN Corporation, now a unit of New York listed Atlas Corp has announced that it has cancelled contracts four 7,700-TEU dual-fuel LNG-powered newbuilds, reports Singapore's Manifold Times.
"Due to certain conditions in the contracts not being fulfilled, the contracts have become null and void. Seaspan has notified the relevant parties and has reserved its rights to claim against the counterparty in relation to the contracts.
Seaspan is the largest global containership lessor, primarily focused on long-term, fixed-rate leases with the world's largest container shipping lines. Seaspan's operating fleet consists of 127 vessels with a total capacity of 1,156,630 TEU, and an additional 63 vessels under construction, increasing total fleet capacity to 1,919,630 TEU.
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