Friday, 05 October 2018 14:07

Seaspan diversifies into energy

530 swiber

Seaspan Corp., which charters a fleet of 112 containerships, is diversifying into the energy business with a potential investment of up to $200 million in the restructured Swiber Holdings Limited. Singapore-based Swiber is a publicly traded Singaporean offshore engineering, procurement and construction business that owns five vessels. Seaspan said the deal is expected to be funded in two steps. Seaspan will provide $20 million in exchange for an 80 percent economic interest in the restructured Swiber Group. In the second step, it would provide $180 million to be invested in a $1 billion LNG-to-power project under development in Vietnam in exchange for economic interests in the project.

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