Seaspan cut its loss to $34.9 million in the second quarter from the $121.8 million loss the independent ship-owner and charter company posted for the same quarter last year.
The company on Thursday said revenue jumped 36.1 percent in the quarter to $133.7 billion, partly as a result of four new vessels that were delivered and chartered out in the quarter. That brought Seaspan’s total fleet to 62 vessels by June 30.
Two of the four new vessels have capacities of 13,100 20-foot equivalent units, the largest in its fleet, and are chartered to COSCO, and the company this month added a 63rd vessel.
The Hong Kong-based company signed construction contracts for three 10,000-TEU containerships that will be chartered to a new Seaspan customer, Hanjin Shipping, under 10-year, fixed-rate charters when they are delivered in 2014.
“The addition of Hanjin, the largest Korean-based liner company, is aligned with Seaspan's strategy of diversifying its high quality customer portfolio," said Gerry Wang, CEO and co-chairman.
Seaspan’s vessel utilization for the quarter stood at 98.9 percent, compared to 97.2 percent in the year-ago quarter.