Mark Chu Steps Down as COO of Seaspan

Chu will remain in his current roles through August 31st, 2018 to help facilitate a seamless transition.

 

Bing Chen, President and Chief Executive Officer of Seaspan said, "I would like to thank Mark for his many contributions to Seaspan over the years. I am pleased that he will remain in place for the next four months to ensure a smooth transition, and on behalf of the full management team, I wish him all the best in his future endeavors."

 

David Sokol, Chairman of Seaspan's Board of Directors, said, "Mark has been a true professional in all aspects of his roles at Seaspan. I cannot thank him enough for his efforts since I joined the Board and through the transition over the past nine months. I wish Mark continued success moving forward."  

 

Mark Chu stated, "It has been a pleasure working at Seaspan with a team of dedicated and talented professionals, and I remain confident in the company's outlook under the leadership of David Sokol and Bing Chen. I look forward to spending the coming months helping the team in any way possible to ensure an effective transition."

 

Seaspan provides many of the world's major container shipping liners with alternatives to vessel ownership by offering long-term leases on large, modern containerships combined with industry-leading ship management services. 

 

Seaspan's operating fleet, including 4 newbuilding containerships on order scheduled for delivery to Seaspan by mid-2018, consists of 112 containerships representing a total capacity of over 900,000 TEU. 

 

Excluding newbuilds, Seaspan's operating fleet of 108 vessels has an average age of approximately 5 years and an average remaining lease period of approximately 5 years, on a TEU weighted basis.