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World’s largest container shipping company Seaspan enters the car carrier market

Caption: © Seaspan Corp.

The Canadian shipping company Seaspan, the world’s leading owner of container ships, is expanding its portfolio with a newbuilding order for car carriers.

Seaspan has now confirmed a partnership with the Korean car carrier shipping company Hyundai Glovis, which recently announced concrete newbuilding plans.

The partnership involves ships with a capacity of 10,800 CEU. They are to be equipped with LNG dual-fuel propulsion and the newbuilds are said to be “ammonia ready” and “methanol ready”. The units are being built by Shanghai Waigaoqiao Shipbuilding, which belongs to the China State Shipbuilding Corporation.

Seaspan charters to Hyundai Glovis

Once delivered, the vessels will be chartered by Hyundai Glovis on a long-term basis and are considered to be the largest PCTCs ever developed. No further details on build price, charter period or charter rate were initially disclosed.

Seaspan is the world’s largest owner of container ships and focuses primarily on long-term, fixed-rate contracts with the world’s largest container shipping lines. As of September 30, 2023, the fleet consisted of 142 vessels with a total capacity of 1,410,800 TEU and a further 47 vessels under construction to be delivered by December 2024, bringing the total capacity of the fleet to 1,927,800 TEU.

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