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Seaspan quarterly profit up 7.4pc to US$77.7 million as revenue rises 7.8pc
HONG KONG administered shipowner Seaspan posted a 7.4 per cent third quarter year on year increase in net profit attributable to shareholders of US$77.7 million, drawn on revenues of $185.9 million, up 7.8 per cent.
Year-to-date, in the nine months ending on September 30 revenue was up 4.5 per cent to $527.7 million compared to the same period last year.
Among the company's achievements was a vessel utilisation rate of 99.2 per cent for the three months and 99.1 per cent for the year to date, the delivery of a ship during the third quarter, bringing Seaspan's operating fleet to 75 vessels at September 30.
"During the third quarter, we entered into time charter agreements with Maersk for four state-of-the-art 10,000-TEU vessels, underscoring the success of our SAVER design," said Seaspan founder and CEO Gerry Wang.
"We also extended time charters for five 14,000-TEU vessels with Yang Ming and confirmed Seaspan will build and manage a total of 15 SAVER design vessels for Yang Ming under 10+2-year fixed-rate time charters.
"Finally, we received delivery of the fourth 10,000-TEU SAVER design containership scheduled for delivery in 2014."
Mr Wang felt confident and the dawn of the fourth quarter. "With a strong balance sheet and capital structure, we remain well positioned to further solidify our position as the largest containership supplier," he said.
Year-to-date, in the nine months ending on September 30 revenue was up 4.5 per cent to $527.7 million compared to the same period last year.
Among the company's achievements was a vessel utilisation rate of 99.2 per cent for the three months and 99.1 per cent for the year to date, the delivery of a ship during the third quarter, bringing Seaspan's operating fleet to 75 vessels at September 30.
"During the third quarter, we entered into time charter agreements with Maersk for four state-of-the-art 10,000-TEU vessels, underscoring the success of our SAVER design," said Seaspan founder and CEO Gerry Wang.
"We also extended time charters for five 14,000-TEU vessels with Yang Ming and confirmed Seaspan will build and manage a total of 15 SAVER design vessels for Yang Ming under 10+2-year fixed-rate time charters.
"Finally, we received delivery of the fourth 10,000-TEU SAVER design containership scheduled for delivery in 2014."
Mr Wang felt confident and the dawn of the fourth quarter. "With a strong balance sheet and capital structure, we remain well positioned to further solidify our position as the largest containership supplier," he said.
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