Seaspan Extends Charters for Newbuilds

first_imgPress Release, September 14, 2014 zoom Yang Ming Marine Transport Corp. has confirmed the term of the fixed-rate time charters for the five 14000 TEU SAVER design container ships currently being constructed at CSBC Corporation will be extended to ten years with one two-year option, Seaspan Corporation announced in a release.Two of these vessels previously have been allocated to Seaspan and three have been allocated to Greater China Intermodal Investments LLC (GCI) under the right of first refusal agreement among Seaspan, GCI and Blue Water Commerce LLC.The option that Yang Ming held to purchase up to five 14000 TEU newbuilding vessels currently being constructed at Hyundai Heavy Industries has expired, and therefore all five of these 14000 TEU newbuilding vessels will also be time chartered to Yang Ming for ten years with one two-year option.Three of these vessels previously have been allocated to Seaspan and two have been allocated to GCI under the right of first refusal agreement.Gerry Wang, Chief Executive Officer, Co-Chairman and Co-Founder of Seaspan, said: “With today’s agreement, Yang Ming confirmed Seaspan will build and manage a total of 15 SAVER design vessels for Yang Ming under 10+2-year fixed-rate time charters. This will further increase Seaspan’s contracted revenue stream, enhance its earnings power, and strengthen Seaspan’s relationship with one of the premier liner companies.”last_img read more

Rally for unity in Matara

Following the successful rally held at Greenpath in Colombo in April the “Rally for Unity” announced that it’s second rally will take place in Matara on Sunday.“Rally for Unity” is a movement formed to show that moderates are strong and united against hate and are committed to promote understanding about the strengths of diversity and unity. The Matara rally will begin at 11.30am at Beach Park, Matara and the meeting point is the roundabout at the bus stand end. Given the recent spate of hate speech and the marginalization of minority communities in general, the voluntary movement of concerned Sri Lankans from various institutions, professions and industries organized a series of non- partisan, non-violent awareness campaigns and rallies against racist actions and hate-speech in Sri Lanka. “We believe that this will empower the silent majority of moderate Sri Lankans to stand up for an inclusive Sri Lanka and we hope that this will be a catalyst for many more similar events and initiatives. We welcome your kind support and assistance at this event,” the organizers said.The organizers said they look forward to the collaboration of the public in respecting and embracing the diversity of Sri Lanka. (Colombo Gazette) read more

Lucky Jayawardena and J C Alawathuwala get new posts

Two new State Ministers took oaths before President Maithripala Sirisena today.Lucky Jayawardena took oaths as the State Minister of Urban Development and Water Supply and J. C Alawathuwala as the State Minister of Home Affairs. Lucky Jayawardena earlier served as the State Minister of Hill Country New Villages, Infrastructure and Community Development while Mr. J. C Alawathuwala was the Deputy Minister of Home Affairs.Secretary to the President Udaya R. Senevirathna was also present on this occasion. (Colombo Gazette) read more