2021 Financial Guidance
1.
2.
Key Developments to Solidify Leading Market Position Since 2017
A
New Board &
Senior
Management
Team
☐
David Sokol, Chairman (previously with Berkshire Hathaway)
☐
Bing Chen, President and CEO (previously with BNP Paribas)
☐
Torsten Pedersen, COO (previously with Maersk Group)
David Sokol
☐
Graham Talbot, CFO (previously with Abu Dhabi Power Corp)
July 2017
Bing Chen
January 2018
Fairfax
Partnership
☐ $1.1bn investment from Fairfax, a leading global investment and insurance
company
Torsten Pedersen Graham Talbot
November 2018
January 2021
Accretive Fleet
Acquisitions
Achieved
Investment
Grade Senior
Secured Rating
$600mn 5.5% 7-year debentures (maturing 2025, 2026, 2027)
$500mn equity (2018 & 2019)
☐ $1.6bn acquisition of Greater China Intermodal Investments (GCI) in Mar-18
18 high-quality containerships with $1.3 billion in contracted revenues
□ Acquisition of 48 additional high-quality containerships since end of 2020 and
contributed to a total of $7.0 billion gross contracted cash flow 1,2
31 newbuilds in the 12,000, 15,000 and 24,000 TEU segments
Newbuilds expected to be delivered between Q4 2021 to Q1 2024
17 secondhand large tonnage vessels (>9000 TEU)
15 secondhand vessels delivered throughout late 2019/2020 and
two expected to be delivered in Q2 2021
☐ Executed portfolio financing program to simplify corporate structure,
reduced average interest cost and provides attractive fleet financing
ם
In August 2020, Seaspan received a BBB- senior secured rating for its
portfolio financing program and a BB corporate rating, reflecting Seaspan's
leadership position in the containership sector
FAIRFAX
FINANCIAL HOLDINGS LIMITED
GCI Group
BBB-
Senior Secured Rating
BB
Corporate Rating
Gross contracted cash flow includes $1.0 billion lease payments receivable from operating leases and $0.1 minimum lease receivable from finance leases related to vessels acquired and delivered since the
end of 2019, as well as $5.9 billion lease payments to be received from undelivered vessels.
Includes cash flows expected from signed charter agreements on undelivered vessels, excluding purchase options, extension options, higher charter rate options and profit-sharing componentsView entire presentation