HONG Kong-based containership owner and operator Seaspan has entered into an agreement with a major shipyard for the construction of two 24,000 TEU-capacity box ships, marking the company's entry into the ultra-large containership segment.

Seaspan said in a statement that the new vessels are scheduled for delivery in early 2023 at which point they will enter into 18-year charters with a leading global liner customer.

The company said it expects to finance the vessel's through additional borrowings as well as cash on hand, reports gCaptain, Ventura, California (LA area).

As of September 30, 2020, Seaspan's global fleet consisted of 127 vessels and approximately 1,073,000 TEU. Late last year, the company also announced an agreement for five newbuild 12,200 TEU vessels which, combined with the two latest vessels, will add new capacity of 109,000 TEU to its fleet.

"With newbuild slots scarce in today's market, we have been consistently meeting our liner customers' needs while maintaining our return discipline and prudent capital allocation. Upon their completion, these seven best-in-class newbuild vessels are scheduled to consistently add to our fleet beginning late this year and extending through 2023, supporting our strategies to continue generating quality growth and creating value for our shareholders," said Bing Chen, chairman, president and CEO of Seaspan.