Item
1 - Information Contained in this Form 6-K Report
On
May
25, 2007, Kevin M. Kennedy, the Chief Financial Officer and Assistant
Secretary
of Seaspan Corporation (the “Company”), notified the Company that he will resign
effective June 8, 2007. Until such effective date, Mr. Kennedy will assist
the
Company with transitional matters relating to his function. Mr. Kennedy
resigned
to pursue other interests and his departure is not due to a disagreement
with
the Company. The Company has appointed Sai W. Chu to be the new Chief
Financial
Officer as of June 8, 2007.
Sai
W.
Chu is the Chief Financial Officer of Seaspan Ship Management Ltd., a
wholly-owned subsidiary of the Company’s manager, Seaspan Management Services
Limited. He was appointed to that office in May 2005 after joining Seaspan
Ship
Management Ltd. as Corporate Controller in September 2004. Mr. Chu
qualified as a Chartered Accountant in 1992 having articled with KPMG’s
Vancouver office and also qualified as a Certified Management Accountant
in
1990.
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 Seaspan Management Services
Limited’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.