Seaspan Corporation Accepts Delivery of Fifth 14000 TEU Saver Containership
Aug 17 15
Seaspan Corporation announced that it accepted delivery of a 14000 TEU containership, the YM Wellness. The new containership, which was constructed at Hyundai Heavy Industries Co. Ltd., is Seaspan's fifth 14000 TEU SAVER design containership and sixth delivery in 2015. The YM Wellness will commence a ten-year, fixed-rate time charter with Yang Ming Marine Transport Corp. Yang Ming may extend the charter for up to an additional two years. The ship is the fifth of a total of eight 14000 TEU SAVER design vessels to be chartered by Seaspan to Yang Ming. The delivery of the YM Wellness expands the company's operating fleet to 83 vessels.
Seaspan Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
Jul 29 15
Seaspan Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenue of $199,152,000 compared to $173,873,000 a year ago. Net earnings were $81,356,000 compared to $20,004,000 a year ago. Normalized net earnings were $35,163,000 compared to $32,088,000 a year ago. Earnings per Class A share, basic and diluted were $0.68 compared to $0.07 a year ago. Adjusted EBITDA was $168,816,000 compared to $130,889,000 a year ago. Cash from operating activities was $91,994,000 compared to $82,730,000 a year ago. Expenditures for vessels were $322,198,000 compared to $23,667,000 a year ago. Operating earnings was $81,247,000 compared to $79,593,000 a year ago. Earnings attributable to common shareholders were $67,600,000 compared to $6,283,000 a year ago.
For the six months, the company reported revenue of $387,699,000 compared to $341,856,000 a year ago. Net earnings were $102,689,000 compared to $38,032,000 a year ago. Normalized net earnings were $73,519,000 compared to $60,880,000 a year ago. Earnings per Class A share, basic and diluted were $0.76 compared to $0.66 a year ago. Adjusted EBITDA was $322,891,000 compared to $254,704,000 a year ago. Cash from operating activities was $156,363,000 compared to $157,843,000 a year ago. Expenditures for vessels were $392,329,000 compared to $103,248,000 a year ago. Operating earnings was $165,667,000 compared to $153,446,000 a year ago. Earnings attributable to common shareholders were $75,184,000 compared to $8,674,000 a year ago.