Seaspan Ship Management Ltd History

Our success is based on the quality of our people. We have combined excellence in ship management with strong financial acumen. Together we have achieved a number of milestones.

When Seaspan Corporation went public, it was the largest shipping IPO in history. At the time, our financial model was the first of its kind and other companies have since copied it. Our financial goal is to become a solid, stable asset leasing company and achieve a mid-cap status of $2.8B US.

It is an exciting time to be part of the container shipping industry. The market is anticipated to grow 10% each year. There are approximately 4500 containership vessels in the world and no company has more than 4% of the market share. By developing solid relations with the most prominent charter companies, we are carving out a niche as an industry leader.

Seaspan Ship Management Ltd. (“SSML”), also known as The Manager, was established in April 2001 with the prime function of operating Seaspan Corporation owned vessels. The focus in development of the company, the systems it uses and the staffing of the vessels is safe and reliable operations and preservation of the assets. In the broader Seaspan structure, the relationships are strong, where owner, manager, plan approval group, site teams and commercial management are united under one banner. This promotes regular discussion and interaction between the interests. Owners are not remote but are hands-on within the business. Growth of the company has been well founded as demonstrated by the continual development of its structure.

SSML has developed and continues to improve its Safety Management System, which is annually audited both in the office and on board and is compliant with the ISM Code. SSML has successfully achieved ISO 9000 compliance for its management systems and ISPS (Security Code) compliance on managed vessels.

We designed and delivered the one of the first 4250 TEU containerships, the CSCL Hamburg, launched in 2001. Quality is demonstrated in the design throughout the vessel. We offer some of the best living conditions on our vessels as we wish to attract and retain crews of the highest caliber.

In addition, Seaspan was the first container ship operator to break the 8,000 TEU barrier.  The first vessel of Seaspan’s series of 9,600 TEU container ships, built at Samsung Heavy Industries (SHI) in Korea was delivered on March 15, 2007.

On June 15, 2011, we launched the COSCO Glory. A 13,000 TEU, it is our largest vessel to date and the progress does not stop there. Currently, we have over 60 vessels in operation and will deliver  more for a total of 69 vessels by April 2012. While growth is an important part of our strategy, our focus is to be the best at what we do. To this end, we apply a rigorous and cautious approach when we enter into new agreements. Seaspan looks to work with the top charter parties and focus on what we do best. We also look to be the most efficient. This means attention to the bottom line while maintaining safety and quality.