Seaspan Announces Full Exercise of Underwriters' Option to

Seaspan Announces Full Exercise of Underwriters' Option to Purchase
Additional Shares 
HONG KONG, CHINA -- (Marketwire) -- 12/14/12 -- Seaspan Corporation
("Seaspan") (NYSE:SSW) announced today that in connection with its
previously announced public offering of its Series D Cumulative
Redeemable Perpetual Preferred Stock (the "Series D Preferred
Shares"), the underwriters have exercised in full their option to
purchase an additional 405,000 Series D Preferred Shares. The sale of
the additional 405,000 Series D Preferred Shares closed today.
Seaspan has sold a total of 3,105,000 Series D Preferred Shares for
total gross proceeds of approximately $77.6 million. 
Seaspan intends to use the net proceeds from the offering for general
corporate purposes, which may include making vessel acquisitions or
investments. Seaspan has filed an application to list the Series D
Preferred Shares on the New York Stock Exchange.  
Jefferies & Company, Inc., Incapital LLC and Credit Suisse Securities
(USA) LLC acted as joint book-running managers and Incapital LLC was
the sole structuring agent for the offering.  
When available, copies of the prospectus supplement and accompanying
base prospectus related to the offering may be obtained from
Jefferies & Company, Inc., 520 Madison Ave, 12th Floor, New York, NY
10022, 877-547-6340, email:;
Incapital LLC, Attn: DCM Prospectus Department, 200 S. Wacker Drive,
Suite 3700, Chicago, Il 60606, email:; and Credit Suisse Securities (USA)
LLC, One Madison Avenue, Floor 1B, New York, NY 10010 email: 
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein, nor
shall there be any sale of these securities in any state or other
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such jurisdiction. The offering may be made only by means
of a prospectus supplement and accompanying base prospectus. 
About Seaspan  
Seaspan provides the world's major shipping lines with an attractive
outsourced alternative to vessel ownership by offering long-term
leases on large, moder
n containerships combined with industry leading
ship management and a reputation for safety, quality and innovation.
Seaspan's managed fleet of its own and third party vessels consists
of 76 containerships representing a total capacity of approximately
475,000 TEU, including seven ships scheduled for delivery by the end
of 2015, three of which will be owned by Seaspan. Seaspan's current
operating fleet of 69 vessels has an average age of approximately
five years and an average remaining lease period of approximately
seven years.  
Seaspan's common shares are listed on The New York Stock Exchange
under the symbol "SSW". 
Seaspan's Series C Preferred Shares are listed on The New York Stock
Exchange under the symbol "SSW PR C".  
Forward-Looking Statements 
The statements in this press release that are not historical facts
may be forward-looking statements. These forward-looking statements
involve risks and uncertainties that could cause the outcome to be
materially different. These risks and uncertainties include, among
others, those discussed in Seaspan's public filings with the SEC.
Seaspan undertakes no obligation to revise or update any
forward-looking statements unless required to do so under the
securities laws.
Seaspan Corporation - Investor Relations Inquiries
Mr. Sai W. Chu
Chief Financial Officer
604-648-9782 (FAX) 
The IGB Group - Media Inquiries
Mr. Leon Berman
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