Seaspan Corporation welcomes news from Standard & Poor’s (S&P) Global Ratings that the company’s credit rating has been upgraded from BB- to BB. This milestone reflects the strength of Seaspan’s business model and the confidence the market places in its long-term strategy.
The upgrade underscores Seaspan’s ability to deliver consistent performance and maintain financial resilience in a dynamic market environment. S&P highlighted Seaspan’s:
- Operational Scale and Stability: Over 20 years of consistent operations and high vessel utilization rates.
- Strong Profitability Metrics: Adjusted EBITDA has grown over 50% since 2021 to over US$1.8 billion.
- Resilient Business Model: Stability in earnings and margins despite industry volatility and fluctuating freight rates.
The improved rating enhances Seaspan’s access to capital markets, strengthens relationships with financing partners and customers, and positions the company for continued growth and innovation. It validates Seaspan’s disciplined approach to delivering long-term value and sustainable quality growth.
About Seaspan Corporation Pte. Ltd.
Seaspan is the world’s leading maritime asset-owner and operator focused on long-term, fixed-rate leases to the world’s most prominent shipping lines. As of September 30, 2025, Seaspan’s operating fleet consisted of 241 vessels, pro forma for undelivered newbuilds, including PCTCs and second-hand vessel purchase agreements, with a total fleet capacity of approximately 2.5 million TEU on a fully delivered basis.
