ATCO - Atlas's subsidiary orders four 7700 TEU LNG newbuilds

Atlas's (NYSE:ATCO) wholly-owned subsidiary Seaspan has signed agreements with a major shipyard to build four 7,700 TEU dual-fuel liquefied natural gas containership newbuilds. The vessels will be funded through existing liquidity, cash flow from operations, and additional borrowings and are likely to be delivered in the third and fourth quarters of 2024. They will enter into long-term charters with a leading global liner customer upon completion. The charters include purchase obligations at the conclusion of the charter terms, and will contribute ~$0.95B of gross contracted cash flow.

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Atlas's subsidiary orders four 7,700 TEU LNG newbuilds