Seaspan Appoints Bing Chen as Chief Executive Officer

HONG KONG, Oct. 31, 2017 /CNW/ - Seaspan Corporation (NYSE:SSW) ("Seaspan" or the "Company") announced today that Bing Chen will be joining the Company as its Chief Executive Officer ("CEO"), and appointed to the Board of Directors in January, 2018. Gerry Wang will be retiring as CEO and Director of Seaspan effective November 3^rd. Upon Mr. Wang's retirement, Peter Curtis, executive vice president and chief operating officer, will also serve as Seaspan's interim chief executive officer until Mr. Chen's arrival, after which he will continue in his current role.

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Seaspan Appoints Bing Chen as Chief Executive Officer (CNW Group/Seaspan Corporation)

Over his twenty five year career Mr. Chen has held executive positions in China, Europe and the United States. Most recently, Mr. Chen served as CEO of BNP Paribas (China) Ltd. where he led the bank's growth strategy in China. From 2011 to 2014, Mr. Chen was the General Manager for Trafigura's Chinese business operations, where he maintained full P&L responsibility for domestic and international commodities trading in the country. Between 2009 and 2011 Mr. Chen was responsible for building the greater China investment banking practice of Houlihan Lokey, Inc. as the Managing Director and Head of Asia Financial Advisory. Between 2001 and 2009 Mr. Chen held various leadership roles in Europe, including as CEO, CFO, and Managing Director of leasing and aircraft chartering businesses. Between 1999 and 2001 Mr. Chen worked as a Director, Business Strategy at Deutsche Bank in New York.

Mr. Chen received a B.S., Accountancy (Magna Cum Laude) (Honours) from Bernard Baruch College and an MBA (Honours) from Columbia Business School.

David Sokol, Chairman of Seaspan's Board of Directors, stated, "We are pleased to have reached a very successful conclusion to our CEO search, and to have a seasoned professional like Mr. Chen join our executive team. Mr. Chen has diverse operating and financial business experience as well as strong relationships in our key markets in Asia and Europe. We feel the talents he brings to the table make him an ideal complement to the talents of Peter Curtis, EVP and COO, Mark Chu, General Counsel, and David Spivak, CFO."

Mr. Sokol concluded, "On behalf of the board of directors, I would like to thank Gerry Wang for his nearly twenty years of leadership and for completing an orderly transition. We are also pleased that Peter Curtis has agreed to act as interim CEO while continuing to oversee all commercial and operating functions of Seaspan."

Mr. Chen added, "Leveraging Seaspan's resilient platform and incredible team, we will strive to constantly provide the best services and innovative solutions for our loyal customers around the world. I am humbled and honoured to be its next CEO as we continue to build and grow profitably. I am confident that Seaspan will continue to strengthen its position as the leader in the global containership leasing industry."

About Seaspan

Seaspan provides many of the world's major shipping lines with creative outsourcing alternatives to vessel ownership by offering long-term leases on large, modern containerships combined with industry leading ship management services. Excluding the remaining 4250 TEU class vessel which is being sold, Seaspan's managed fleet consists of 110 containerships representing a total capacity of approximately 900,000 TEU, including 6 newbuilding containerships on order scheduled for delivery to Seaspan and third parties by the end of 2018.  Seaspan's current operating fleet of 88 vessels, excluding the remaining 4250 TEU class vessel which is being sold, has an average age of approximately six years and average remaining lease period of approximately five years, on a TEU weighted basis.

Seaspan has the following securities listed on The New York Stock Exchange:

Symbol:	Description:
SSW	Class A common shares
SSW PR D	Series D preferred shares
SSW PR E	Series E preferred shares
SSW PR G	Series G preferred shares
SSW PR H	Series H preferred shares
SSWN	6.375% senior unsecured notes due 2019
SSWA	7.125% senior unsecured notes due 2027

For Investor Relations Inquiries:

Mr. David Spivak
Chief Financial Officer
Seaspan Corporation
Tel. [phone]

Mr. Michael Sieffert
Director, Corporate Finance
Seaspan Corporation
Tel. [phone]

For Media Inquiries:

Mr. Leon Berman
The IGB Group
Tel. [phone]

SOURCE Seaspan Corporation

Related Links

http://www.seaspancorp.com/