This successful conversion is not only a remarkable technical achievement, but also a powerful statement of Seaspan and Hapag-Lloyd‘s joint commitment to a greener future. At Seaspan, this has been the mission for over a decade. From the early SAVER (Seaspan Action for Vessel Energy Reduction) program to today’s CleanBlue initiative, Seaspan has committed over $230 USD million across 86 vessels, executing more than 550 efficiency and retrofit projects.

Following Seaspan Yangtze, the remaining vessels planned for retrofit under the program are Seaspan Amazon, Seaspan Ganges, Seaspan Thames, and Seaspan Zambezi. Each retrofit is expected to reduce well-to-wake CO₂e emissions by approximately 30,000 to 50,000 metric tonnes per vessel annually when operating on low-carbon methanol, while also extending vessel lifespan and enhancing fuel flexibility.

“Decarbonization is not just about building the fleet of tomorrow, it is also about unlocking the full potential of the fleet we have today. Retrofitting and upgrades on existing fleets play a practical, immediate, and economical role in accelerating shipping’s decarbonization journey,” said Bing Chen, Chairman, President and CEO of Seaspan. “Project SAVER CleanBlue highlights Seaspan’s strong customer partnerships, deep technical expertise, and unique platform with integrated with JV partners, such as WattSpan Maritime Technology, in executing complex and large scale retrofit projects.”

“The successful conversion of the Seaspan Yangtze together with the planned retrofit of its four sister vessels is another important step on our ambitious path towards net-zero fleet operations by 2045,” said Silke Lehmköster, Managing Director, Fleet, Hapag-Lloyd. “Together with Seaspan, we are demonstrating that retrofitting existing vessels for low-carbon methanol can be a practical way to reduce emissions in shipping.”

By leveraging its fully integrated platform across the vessel lifecycle, from engineering and retrofitting to operations, Seaspan continues to deliver scalable, turnkey solutions that support customers in transitioning to lower and/or zero-emissions operations. Together, Seaspan and Hapag-Lloyd view Project SAVER CleanBlue as an important step toward enabling more sustainable global container shipping.

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 March 31, 2026, Seaspan’s operating fleet consisted of 247 vessels, pro forma for undelivered newbuilds (including two Very Large Ethane Carriers and four Open Hatch Gantry Crane vessels signed in April 2026), with a total fleet capacity of approximately 2.5 million TEU on a fully delivered basis.

Seaspan’s SAVER program is aimed at improving vessel efficiency, and the CleanBlue initiative enables low and zero carbon fuel technologies; two key pillars of Seaspan’s decarbonization strategy.

Media Contact:
Cailey Murphy
Head of Corporate Communications
Seaspan Corporation Pte. Ltd.,
communications@seaspancorp.com

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.  

Read the full report HERE

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. 

Nuclear-powered containerships have the potential to eliminate bunker costs, cut greenhouse gas (GHG) emissions and deliver faster transit times, while maintaining safety and economic competitiveness.

The findings are drawn from a new Lloyd’s Register and LucidCatalyst report for Seaspan Corporation Pte. Ltd. The report examines the technical, economic, and regulatory potential of integrating small modular reactors (SMRs) into the containership fleet. LucidCatalyst performed a comprehensive analysis of the costs and benefits for Seaspan’s business model and collaboratively developed requirements that, if met, would create significant value.

For vessel operators, nuclear-powered vessels eliminate their largest operating costs, up to $50 million annually in bunker fuel and an estimated $18 million in carbon penalties.

According to the analysis, a single 15,000 TEU nuclear-powered containership operating at 25 knots (39% faster than conventional vessels) could deliver up to 38% higher annual cargo capacity compared to conventionally fuelled vessels through a combination of increased speed (enabling 6.3 versus 5 round voyages annually) and 5% additional container space from the elimination of fuel tanks and systems.

The report highlights that translating these requirements into a rigorous, requirements-led supply chain and procurement strategy, through a cross-industry consortium, is essential for widespread success. If industry pledges to purchase more than 1,000 units in 10–15 years, it estimates that modular reactors could be produced for US$750–1,000 per kilowatt, significantly cheaper than conventional nuclear power plants, and maintained within standard vessel drydock cycles. Each unit would be designed to operate for around five years between refuelling, drastically reducing downtime and providing independence from global bunkering networks.

The study outlines a roadmap showing how manufactured nuclear propulsion units could reach commercial readiness within four years of starting an intensive program, with total system costs below $4,000/kW and fuel costs under $50/MWh. Market modelling indicates potential uptake of 40–90 GW by 2050, depending on regulatory progress and industry adoption.

The findings also point to best practices for designing a competitive supply chain that provides depth of supply, competition on price and performance, and avoids vendor ‘lock-in’, as well as innovative reactor and fuel-leasing models that could help shipowners and operators manage upfront costs while maintaining safety and regulatory compliance.

The report forms the first phase of a three-part programme. The next stage will focus on concept design and regulatory readiness, including engagement with shipyards, port authorities, and nuclear regulators. A final phase will create a detailed implementation roadmap, outlining risk management, certification, and investment strategies for large-scale deployment.

Meg Dowling, Senior Engineer – Nuclear Technology and Alternative Fuels, Lloyd’s Register, said: “The energy transition and long-term sustainability challenges of shipping demands long-term solutions that can scale. Nuclear propulsion offers not just a decarbonised solution, but a transformative economic opportunity for shipowners and charterers alike. The results of this research give us a strong foundation to define how systems can be integrated within the commercial fleet to provide a credible pathway towards safe, commercially viable, zero-emission shipping.”

Peter Jackson, Chief Technology Officer at Seaspan Corporation Pte. Ltd., said: “As part of our ongoing efforts to find safe and commercially viable energy transition pathways, we have partnered with LR and Lucid Catalyst to explore nuclear propulsion for containerships. Small Modular Reactors (SMR’s) is a very exciting technology offering several desirable benefits for shipowners and operators, as outlined in this report. Naturally there are challenges to overcome, but I am confident that ongoing work in this area and studies like this will soon allow nuclear powered containerships to be operating safely, economically, and emission free.”

Eric Ingersoll, Managing Partner, LucidCatalyst, added: “Nuclear propulsion transforms shipping economics, not just emissions. Our analysis shows that nuclear-powered containerships will likely outcompete conventionally fuelled and green fuelled competitors—dominating their trading routes through superior performance without requiring green premiums. The key to unlocking this advantage is organising the market through sophisticated supply chain and technology strategies. By forming a cross-industry consortium, we can build a responsive supply chain and achieve competitive reactor costs, making nuclear the economically optimal choice for shipowners and charterers alike.”

LR has been leading industry efforts to develop the safety, regulatory and assurance frameworks needed for nuclear propulsion at sea. It is a founding member of the Nuclear Energy Maritime Organisation (NEMO) and an active contributor to the IAEA’s Atomic Technologies Licensed at Sea (ATLAS) programme. Both initiatives are shaping the global regulatory landscape for commercial nuclear shipping.

LR recently issued Navigating Nuclear Energy in Maritime, a new guidance document providing the first roadmap for the safe and responsible use of nuclear technology in commercial shipping and offshore industries. This guidance builds on LR’s industry-leading Fuel for Thought: Nuclear research programme, which brings together decades of classification, safety and compliance expertise with specialist nuclear insight to provide an evidence-based framework for project teams at every stage of development.

Chairman, President & CEO of Seaspan Corporation Pte. Ltd. (Seaspan), Mr. Bing Chen, was a featured speaker at two prominent forums, where he addressed the current state of the shipping industry and articulated Seaspan’s pragmatic, long-term approach to sustainable quality growth. In his remarks, Mr. Chen emphasized the criticality of consistent operational excellence in navigating industry uncertainties. “In the face of geopolitical complexity and evolving environmental regulations, our certainty lies in delivering the practical, economical and reliable solutions — starting with ship retrofitting and technological upgrades,” he stated, specifically highlighting the company’s progressing SAVER program, which is designed to preserve vessel integrity while systematically improving the fleet’s fuel efficiency.

Against a backdrop of fuel transitions and regulatory shifts, Mr. Chen reinforced Seaspan’s commitment to steady progress and strategic collaboration. “It is a great honor to be invited by both COSCO and CPI to contribute to these important discussions,” he said. “This recognition underscores Seaspan’s position as a trusted leader and a collaborative partner. We are at a pivotal moment for our industry, and forums like these are essential for fostering the collaboration crucial to navigate the future, from digitalization and green transformation to ensuring the sustainability of global trade.”

The North Bund Forum is a flagship international gathering for the global shipping industry, bringing together government officials, industry leaders, and academic experts to discuss critical trends shaping the future of maritime trade, technology, and sustainability.

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.

Guided by its deeply embedded ESG framework and decarbonization strategy, the company has implemented an ambitious program of vessel retrofits and upgrades across its fleet, working closely with customers to enhance vessel performance and reduce environmental impact. Retrofitting and upgrades are effective ways to extend vessel life while also delivering emissions abatement and fuel flexibility to customers.

Seaspan has successfully completed 552 individual upgrades, with another 85 projects either planned or underway. These initiatives encompass a wide range of improvements, including upgrades to electrical, thermodynamic, and hydrodynamic efficiency, as well as comprehensive retrofits. In total, 86 vessels have been upgraded, with an additional 10 others currently being modified or scheduled for upcoming enhancements, including methanol main engine conversion retrofits scheduled for delivery in mid-2026.

The total investment in these projects has reached USD 226.5m, including both executed and planned initiatives.

Leveraging its fully integrated vessel lifecycle management platform, from design, supervision, operation, upgrade, retrofit, and recycle, combined with vertically integrated engineering, procurement, and construction, Seaspan’s SAVER upgrade program can be separated into three main categories:

Fuel-Saving & Efficiency Enhancements:

• Renewal of Propeller & Cap Fins
• Bulbous Bow Modification
• Main Engine Derating
• Energy Recovery Systems
  

Cargo Capacity Optimization:

• Lashing Bridge Elevation and Extension
• Stack Weight Increase
• Lashing Pattern Enhancing
• CSA & Loading Computer Upgrades
• Reefer Expansion
  

Green Fuel & Emission Reduction:

• Fuel Conversion Retrofits
• Scrubber Installation
• Shore Power / AMP-System Upgrades

These upgrades reduce fuel consumption, increase cargo loadability, and enhance flexibility, enabling Seaspan’s customers to remain competitive in an evolving market.

“At Seaspan, fleet enhancement is a core pillar of our decarbonization strategy. By driving our fleet modernization together with our customers, we’re not only improving fleet operational performance but also contributing a practical solution to the sustainable shipping industry,” said Bing Chen, President and CEO of Seaspan Corporation Pte. Ltd. “These projects demonstrate the strength of our partnerships and our shared commitment to innovation, efficiency, and decarbonization.”

As the industry advances toward its decarbonization goals, Seaspan is focused on leveraging turnkey solutions and digitalization to upgrade existing assets. Through these efforts, Seaspan continues to lead with its partners at the forefront of the global transition toward cleaner and smarter maritime operations.

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.

Seaspan Corporation, the world’s largest independent charter owner and operator of containerships, has signed a strategic partnership with Ankeri Solutions to implement the Icelandic company’s digital platform across its global operation, joining more than a dozen maritime industry leaders who already use the cloud-based software.

Following a successful trial, Seaspan selected Ankeri’s modular Software-as-a-Service to enhance its management of chartering contracts and emission reporting under the European Union Emission Trading Scheme (EU ETS).

Seaspan, which is at the forefront of the maritime industry’s shift toward more sustainable and efficient operations, currently has 187 containerships and two pure car truck carriers in operation, with a fleet nominal capacity of approximately 1.65 million TEU. It will use the Ankeri platform to digitalise, streamline, and automate its commercial, technical and operational workflows, consolidating data into a single interface, enabling real-time collaboration and enhanced operational visibility.

Peter Jackson, Seaspan Chief Technology Officer, said: “At Seaspan, we are always investing and innovating to elevate customer engagement and deliver value for our global clients. This means our teams need efficient and effective tools to optimise commercial and technical operations and to assist with regulatory compliance. Ankeri’s industry-leading applications fully support our digital ambitions, driving enhanced performance across our fleet and underpinning our ability to scale.”

Kristinn Aspelund, Ankeri CEO and Co-Founder said: “We are thrilled to welcome Seaspan to the growing list of container clients turning to our scaleable software platform to realise their digitalisation goals. Working alongside Seaspan to optimise efficiency, automation and environmental accounting, we are confident we can jointly push digital boundaries and leverage data to drive strong results.”

The partnership with Seaspan is another significant step in Ankeri’s growing drive to serve shipping where it supports more than a dozen industry leaders. Notable among these is its eight-year collaboration with Hapag-Lloyd and its partnership with Global Ship Lease, where its solution enables the mid-sized containership owner to enhance vessel data-sharing capabilities with liner operators.  Ankeri also works closely with Hamburg-based owner Ernst Russ, which uses its platform to manage operational data, workflows, regulatory compliance, charterparty contracts and EU ETS reporting.

About Ankeri Solutions

Ankeri provides innovative software solutions for the maritime industry. Ankeri’s cloud-based platform helps shipping companies collect, manage, and analyse fleet data to optimize performance, reduce emissions, and advance sustainability initiatives. Ankeri digitises ship charter processes, making it more transparent and efficient to share information between maritime stakeholders to create a competitive advantage.

About Seaspan Corp

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 June 30, 2025, Seaspan’s operating fleet consisted of 227 vessels, pro forma for undelivered newbuilds, including PCTCs and second-hand vessel purchase agreements, with a total fleet capacity of approximately 2.4 million TEU on a fully delivered basis.

The deployment follows a collaborative effort between the two companies aimed at strengthening bridge team performance, enhancing shoreside visibility, and supporting long-term decarbonization goals. With the full suite of AI-powered navigation and fleet performance solutions now operational, Avikus and Seaspan are set to continue their partnership through future upgrades and a shared innovation roadmap.

“This deployment reflects Seaspan’s strategy of driving decarbonization and safety through operational innovation,” said Peter Jackson, Chief Technology Officer of Seaspan. “We are pleased to work with Avikus in delivering scalable digital infrastructure and building the foundation for intelligent fleet performance.”

Avikus’ HiNAS product suite provides real-time situational awareness and decision support to the bridge teams and oversight and review facilities to the shoreside operators. The project’s completion is a key milestone in Avikus’ global expansion and ongoing commitment to delivering smart, safe, and sustainable navigation technologies.

“We’re proud to deepen our partnership with Seaspan, one of the most forward-leaning operators in the global shipping industry,” said Dohyeong Lim, CEO of Avikus. “This milestone represents not only a completed deployment, but a foundation for continuous improvement, supporting the next generation of fleet operations.”

About Avikus
Avikus, a subsidiary of HD Hyundai, develops autonomous navigation and smart ship solutions that improve maritime safety, efficiency, and sustainability. Its HiNAS and NeuBoat product lines deliver advanced situational awareness and route optimization to both commercial and leisure vessels.

About Seaspan Corporation
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 June 30, 2025, Seaspan’s operating fleet consisted of 227 vessels, pro forma for undelivered newbuilds, including PCTCs and secondhand vessel purchase agreements, with a total fleet capacity of approximately 2.4 million TEU on a fully delivered basis.

All twelve (12) vessels are scheduled for delivery by the end of 2028 and will be chartered for an extended period under a long-term agreement with a leading global liner. This agreement marks another milestone in Seaspan’s orderbook, reinforcing its reputation as a premier owner and builder of next-generation container ships designed to meet the evolving operational and environmental goals of its customers.

In 2024, Seaspan conducted a double materiality assessment to evaluate materiality of its ESG factors from both an impact and financial perspective to determine risks and opportunities, strategies, goal setting, and key performance indicators on which to focus efforts. The resulting list of material topics closely aligned with previous assessments as well as demonstrated a similarity in the prioritization of impacts perceived from external and internal teams, suggesting a strong alignment between sustainability and business operations.

Seaspan continues to make progress on its decarbonization journey. Seaspan’s Action for Vessel Energy Reduction (SAVER) initiative aims to improve the overall efficiency of every vessel, and to lower fuel consumption and emissions across the fleet. In 2024, Seaspan spent $37.8 million to improve the efficiency of its vessels and continued to invest in adding alternative fuel vessels to its fleet. As of December 31, 2024, Seaspan’s fleet included 24 LNG duel-fueled containerships.

Seaspan also continues to advance its social goals in maintaining a fair working environment and occupational health and safety and the company is continually reinforcing its governance policies, prioritizing accountability, transparency, and security to protect the long-term interests of its stakeholders and the public.

Bing Chen, President and CEO, stated, ” We are pleased to continue to advance our ESG initiatives—progress that has been driven by cross functional teams through the collective efforts of our entire organization. With the steadfast support of our Board of Directors and the active engagement of our stakeholders, we continue to partner with our customers and embed sustainability into the core of our strategy and operations.”

For more information, please download the full 2024 Sustainability Report at esg.atlascorporation.com

About Atlas Corp.

Atlas is a leading global asset management company, differentiated by its position as a best-in-class owner and operator with a focus on disciplined capital deployment to create sustainable shareholder value. We target long-term, risk-adjusted returns across high-quality infrastructure assets in the maritime sector. For more information visit atlascorporation.com.

For further information: For further information: Cailey Murphy, Head of Corporate Communications, communications@seaspancorp.com

Seaspan has joined the IMPA SAVE team as a pledger. By joining the pledge, Seaspan emphasizes its dedication to eliminating single-use plastics onboard vessels and fostering sustainable practices across the maritime sector.

The International Marine Purchasing Association (IMPA) has taken a significant stride towards sustainability with its commitment to the Plastic Zero Pledge. Recognizing the urgent need to address the global plastic crisis, IMPA launched the IMPA SAVE initiative, aimed at reducing plastic consumption and promoting a cleaner and greener maritime industry.

The IMPA SAVE initiative is a comprehensive commitment to minimizing the maritime industry’s impact on the environment by targeting one of the most significant pollutants – plastic. The initiative is creating opportunities not only to share knowledge on more sustainable practices and alternatives but also to motivate others to be better stewards of our oceans through committing and regular impact reporting.

Reducing plastic onboard vessels has been an item on Seaspan’s agenda for a long time (see more about our environmental initiatives here). In response to this growing concern, Seaspan has taken actions to reduce and mitigate plastic waste, such as reducing the dependency on plastic bottled drinking water by supplying water filtration units onboard and personal stainless steel water bottles for crew members, new vendors are vetted for their policy on plastic packaging materials and discouraged from supplying it onboard the ships, and crew members are encouraged to return plastic packaging materials to suppliers for recycling. To support its actions, Seaspan has set a target of a 5% annual reduction in plastic waste discharged from our ships, in comparison to 2018. As an IMPA SAVE pledger, Seaspan is committed to sharing its records on a biannual basis and collaborating and partnering with the community to find more ways to improve.

As the maritime industry embraces sustainable practices and reduces its plastic footprint, it sets an example for other sectors to follow. Seaspan believes that through collective efforts and steadfast commitment, it is possible to pave the way toward a plastic-free future, safeguarding our oceans and preserving the vitality of our planet for generations to come.