SEASPAN YANGTZE

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Seaspan Accepts Delivery of Second 10000 TEU SAVER Containership

Seaspan Corporation announced that it accepted delivery of a 10000 TEU containership, the HANJIN NAMU. The new containership, which was constructed at Jiangsu New Yangzi Shipbuilding Co., Ltd. using Seaspan's fuel-efficient SAVER design, is Seaspan's second of five 10000 TEU SAVER design containerships scheduled for delivery in 2014. The HANJIN NAMU will commence a ten-year, fixed-rate time charter with Hanjin Shipping Co. Ltd. ("Hanjin"). The ship is the second of a total of three vessels to be chartered by Seaspan to Hanjin, and expands the Company's operating fleet to 73 vessels. Seaspan provides many of the world's major shipping lines with creative outsourcing alternatives to vessel ownership by offering long-term leases on large, modern containerships combined with industry leading ship management services. Seaspan's managed fleet consists of 109 containerships representing a total capacity of over 840,000 TEU, including 33 newbuilding containerships on order scheduled for delivery to Seaspan and third parties by the end of 2016. Seaspan's current operating fleet of 73 vessels has an average age of approximately seven years and an average remaining lease period of approximately five years.