SEASPAN
CORPORATION
TO
PRESENT AT CITIGROUP 2007 SMALL AND MID-CAP CONFERENCE
Hong
Kong, China, March 8, 2007 - Seaspan Corporation (“Seaspan”) (NYSE: SSW)
announced today that Kevin M. Kennedy, Chief Financial Officer, will
present at
the Citigroup 2007 Small and Mid-Cap Conference on March 15, 2007 at
8:25 am
(ET). The conference will be held at The Four Seasons Hotel in Las
Vegas,
Nevada.
A
live
audio webcast of the presentation can be found at the following link:
http://www.veracast.com/webcasts/citigroup/smallmidcap07/89306526.cfm.
The
link
to the webcast will be live just prior to the start of the presentation
and will
be available for on-demand replay within 24 hours. An archive of the
webcast
will also be available through www.seaspancorp.com for a period of 30
days.
About
Seaspan
Seaspan
owns containerships and charters them pursuant to long-term fixed-rate
charters.
Seaspan’s fleet of 41 containerships consists of 23 existing vessels and 18
to
be delivered over approximately the next three years. The 18 vessels
that
Seaspan has contracted to purchase are already committed to long-term
charters
ranging from ten to twelve years. Seaspan’s operating fleet of 23 vessels has an
average age of approximately five years with an average remaining charter
period
of approximately eight years. Seaspan’s customer base consists of the largest
liner companies including China Shipping Container Lines, A.P. Moller-Maersk,
Mitsui O.S.K. Lines, Hapag-Lloyd and Cosco Container Lines.
Seaspan’s
common shares are listed on the New York Stock Exchange under the symbol
“SSW.”
-more-
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. 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.
For
Investor Relations Inquiries:
Mr.
Kevin
M. Kennedy
Chief
Financial Officer
Seaspan
Corporation
Tel.
604-638-2575
For
Media Inquiries:
Mr.
Leon
Berman
The
IBG
Group
Tel.
212-477-8438
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