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Stock Market & Financial Investment News

News Breaks
March 19, 2013
05:55 EDTSSW, SSW, SSWSeaspan management to meet with Jefferies
Meetings to be held in Boston/New York on March 25-26 hosted by Jefferies.
News For SSW From The Last 14 Days
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September 15, 2014
16:13 EDTSSWSeaspan initiated with a Buy at Deutsche Bank
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16:11 EDTSSWSeaspan extends agreements, considers strategic option for GCI
Seaspan announced that it has entered into an agreement with Greater China Intermodal Investments, or GCI, and Blue Water Commerce, to extend the term of their Right of First Refusal, or ROFR, Agreement by one year to March 31, 2016. GCI is Seaspan's investment partnership established with an affiliate of global asset manager The Carlyle Group and others, including affiliates of Seaspan's director Graham Porter and of its largest shareholder, Dennis R. Washington. Under the ROFR Agreement and subject to its terms, Seaspan has a right of first refusal in respect of containership investment opportunities identified by GCI, as well as a right of first offer in respect of certain proposed containership sales by GCI. Seaspan manages GCI's operating vessels and provides pre-delivery services for GCI's newbuilding vessels. Seaspan has also extended to March 31, 2016 its employment, transaction services and lock-up agreements with its CEO, Gerry Wang and its financing services agreement with Tiger Ventures Limited, or Tiger Ventures, an affiliate of Porter. In connection with the extensions of these agreements, Seaspan's board authorized its conflicts committee, composed entirely of independent directors, to consider strategic options in regard to Seaspan's investment in GCI, including a potential acquisition of GCI by Seaspan.
September 12, 2014
08:33 EDTSSWSeaspan announces extension of time charter terms by Yang Ming
Seaspan announced that Yang Ming Marine Transport has confirmed the term of the fixed-rate time charters for the five 14000 TEU SAVER design containerships currently being constructed at CSBC Corporation will be extended to ten years with one two-year option. Two of these vessels previously have been allocated to Seaspan and three have been allocated to Greater China Intermodal Investments, or GCI, under the right of first refusal agreement among Seaspan, GCI and Blue Water Commerce. The option that Yang Ming held to purchase up to five 14000 TEU newbuilding vessels currently being constructed at Hyundai Heavy Industries has expired, and therefore all five of these 14000 TEU newbuilding vessels will also be time chartered to Yang Ming for ten years with one two-year option. Three of these vessels previously have been allocated to Seaspan and two have been allocated to GCI under the right of first refusal agreement.
September 9, 2014
07:12 EDTSSWEuro Pacific to hold a conference
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September 8, 2014
09:14 EDTSSWSeaspan announces new 10K TEU time charters, option agreement
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