Comment / Analysis: Seaspan needs a firm hand on its charter rate tiller to keep its business plan on course

© Max Moore

With hindsight, the float of Seaspan Corporation in 2005 was a very smart move – financial engineering at its best, in fact.

However, a few risks make us wonder now whether its business model is actually sustainable.

New reality

As new charter deals are being struck in this market, and lower charter fees are agreed between shipowners and their clients, the board members of the world’s largest non-operating containership owner are faced with a delicate balancing act.

The company’s persistent refusal to deal with Hanjin ...