UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
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___________________
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FORM
6-K
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___________________
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REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
UNDER
THE
SECURITIES EXCHANGE ACT OF 1934
Date
of Report: April 17, 2006
Commission
File Number 1-32591
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_____________
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SEASPAN
CORPORATION
(Exact
name of Registrant as specified in its Charter)
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______________
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Unit
2, 7th
Floor, Bupa Centre
141
Connaught Road West
Hong
Kong
China
(Address
of principal executive offices)
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______________
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[Indicate
by check mark whether the registrant files or will file annual reports
under
cover of Form 20-F or Form 40-F.]
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Form
20-F
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__X__ |
Form
40-F
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_____ |
[Indicate
by check mark if the registrant is submitting the Form 6-K in paper as
permitted
by Regulation S-I Rule 101 (b)(1).]
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Yes
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______
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No
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__X__ |
[Indicate
by check mark if the registrant is submitting the Form 6-K in paper as
permitted
by Regulation S-T Rule 101 (b)(7).]
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Yes
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______
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No
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__X__ |
[Indicate
by check mark whether the registrant by furnishing the information contained
in
this Form is also thereby furnishing the information to the Commission
pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.]
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Yes
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______
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No
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__X__ |
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- .
Item
1 -
Information Contained in this Form 6-K Report
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned,
thereunto
duly authorized.
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SEASPAN
CORPORATION
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| Date: April 17, 2006 | By: | /s/ Kevin M. Kennedy |
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Kevin
M. Kennedy
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| Chief Financial Officer | ||
Exhibit
I
| Seaspan Corporation | |
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Unit
2, 7th Floor,
Bupa
Centre
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| 141 Connaught Road West | |
| Hong Kong, China | |
| c/o 2600 - 200 Granville Street | |
| Vancouver, BC | |
| Canada V6C 1S4 | |
| Tel: 604-482-8777 | |
| Fax: 604-648-9782 | |
| www.seaspancorp.com |
FOR
IMMEDIATE RELEASE
Hong
Kong, China, April 17, 2006 - Seaspan Corporation (“Seaspan”) (NYSE: SSW)
reported today that the New Delhi Express, one of the 4250 TEU
containerships on
charter to CP USA, was aground for about two hours at the entrance
of Newark
Bay, New Jersey, early Saturday morning in heavy fog. The vessel
is currently
discharging containers and will move, under her own power, to
a local drydock
for permanent repairs on or about April 19, 2006.
Management
is in the process of assessing the potential cost and projected
offhire time,
but currently anticipates that repairs will take approximately
one week to
complete after which the vessel will return to service. The Company
also
anticipates that the incident will not result in a material financial
impact.
There
were no injuries and no adverse environmental impact as a result
of the
incident.
The
vessel is fully insured and the appropriate claims will be filed
with insurance
underwriters in due course.
About
Seaspan
Seaspan
owns containerships and charters them pursuant to long-term fixed-rate
charters.
Seaspan currently owns a fleet of 16 containerships consisting
of 14 4250 TEU
vessels and two 8500 TEU vessels. Over approximately the next
34 months, Seaspan
will add 13 additional vessels to its fleet, including four 2500
TEU vessels,
two 3500 TEU vessels, five 4250 TEU vessels, and two 9600 TEU
vessels.
Seaspan’s
common shares are listed on the New York Stock Exchange under
the symbol
“SSW.”
CAUTIONARY
STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This
release contains certain forward-looking statements (as such
term is defined in
Section 21E of the Securities Exchange Act of 1934, as amended)
concerning
future events and our operations, performance and financial condition,
including, in particular, the likelihood of our success in developing
and
expanding our business. Statements that are predictive in nature,
that depend
upon or refer to future events or conditions, or that include
words such as
“expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,”
“projects,” “forecasts,” “will,” “may,” “potential,” “should,” and similar
expressions are forward-looking statements. These forward-looking
statements
reflect management’s current views only as of the date of this presentation and
are not intended to give any assurance as to future results.
As a result, you
are cautioned not to rely on any forward-looking statements.
Forward-looking
statements appear in a number of places in this release. Although
these
statements are based upon assumptions we believe to be reasonable
based upon
available information, including operating margins, earnings,
cash flow, working
capital and capital expenditures, they are subject to risks and
uncertainties.
These risks and uncertainties include, but are not limited to:
future operating
or financial results; our expectations relating to dividend payments
and
forecasts of our ability to make such payments; pending acquisitions,
business
strategy and expected capital spending; operating expenses, availability
of
crew, number of off-hire days, drydocking requirements and insurance
costs;
general market conditions and shipping market trends, including
charter rates
and factors affecting supply and demand; our financial condition
and liquidity,
including our ability to obtain additional financing in the future
to fund
capital expenditures, acquisitions and other general corporate
activities;
estimated future capital expenditures needed to preserve our
capital base; our
expectations about the availability of ships to purchase, the
time that it may
take to construct new ships, or the useful lives of our ships;
our continued
ability to enter into long-term, fixed-rate time charters with
our customers;
our ability to leverage to our advantage our Manager’s relationships and
reputation in the containership industry; changes in governmental
rules and
regulations or actions taken by regulatory authorities; changes
in worldwide
container demand; changes in trading patterns; competitive factors
in the
markets in which we operate; potential inability to implement
our growth
strategy; potential for early termination of long-term contracts
and our
potential inability to renew or replace long-term contracts;
ability of our
customers to make charter payments; potential liability from
future litigation;
conditions in the public equity markets; and other factors detailed
from time to
time in our periodic reports, including our Prospectus filed
with the SEC on
August 8, 2005. We expressly disclaim any obligation to update
or revise any of
these forward-looking statements, whether because of future events,
new
information, a change in our views or expectations, or otherwise.
We make no
prediction or statement about the performance of our common and
subordinated
shares.
Contacts
Seaspan
Corporation
Mr.
Kevin
M. Kennedy
Chief
Financial Officer
(604)
482-8777
Fax:
(604) 648-9782
www.seaspancorp.com
OR
Brunswick
Group LLC
Nina
Devlin/Erin Moore
(212)
333-3810