Seaspan Corporation

We currently own a large modern fully contracted fleet of 68 vessels of which we have entered into long-term contracts. We deploy all our vessels on long-term, fixed rate charters to take advantage of the stable cash flow and high utilization rates that are associated with long-term time charters. Our primary objective is to continue to grow our business through accretive acquisitions over the mid to long-term and as market conditions allow. Our customer selection process is targeted at well-established container liner companies that charter-in vessels on a long-term basis as part of their fleet expansion strategy. Currently, 22 containerships in our fleet are under time charters with CSCL Asia. CSCL Asia, a British Virgin Islands company, is a subsidiary of CSCL. Nine containerships in our current fleet are under time charters with HL USA, an affiliate of TUI AG, or TUI. Our four 4800 TEU vessels are chartered to APM, the world’s largest containers shipping company. Our two 3500 TEU vessels are under time charters with COSCON. Additionally, we have three vessels chartered to MOL and two vessels to CSAV. Most of our charterers’ container shipping business revenues are derived from the shipment of goods from the Asia Pacific region, primarily China, to various overseas export markets in the Unites States and in Europe.