Seaspan Accepts Delivery of Forty-Sixth Containership

HONG KONG, CHINA, Apr 06 (MARKET WIRE) --
Seaspan Corporation (NYSE: SSW) announced today that it accepted delivery
of an 8500 TEU containership named the COSCO Korea from Hyundai Heavy
Industries Co., Ltd. on April 5, 2010. This is Seaspan's fourth delivery
in 2010, expanding the Company's operating fleet to 46 vessels.

The COSCO Korea is on charter to COSCO Container Lines Co., Ltd.
("COSCON") of China under a twelve-year, fixed-rate time charter. The
COSCO Korea is the second of eight 8500 TEU sister ships and the fourth
of a total of eighteen vessels to be chartered by Seaspan to COSCON.

About Seaspan

Seaspan owns containerships and charters them pursuant to long-term
fixed-rate charters. Seaspan's contracted fleet of 68 containerships
consists of 46 containerships in operation and 22 containerships to be
delivered over approximately the next 25 months. Seaspan's operating
fleet of 46 vessels has an average age of approximately five years and an
average remaining charter period of approximately seven years. All of the
22 vessels to be delivered to Seaspan are already committed to long-term
time charters averaging approximately 11 years in duration from delivery.
Seaspan's customer base consists of seven of the world's largest liner
companies, including China Shipping Container Lines, A.P. Moller-Maersk,
Mitsui O.S.K. Lines, Hapag-Lloyd, COSCO Container Lines, K-Line and CSAV.

Seaspan's common shares are listed on the New York Stock Exchange under
the symbol "SSW".

STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This release contains certain forward-looking statements (as such term is
defined in Section 21E of the Securities Exchange Act of 1934, as
amended) concerning future events and our operations, performance and
financial condition, including, in particular, the likelihood of our
success in developing and expanding our business. Statements that are
predictive in nature, that depend upon or refer to future events or
conditions, or that include words such as "expects", "anticipates",
"intends", "plans", "believes", "estimates", "projects", "forecasts",
"will", "may", "potential", "should", and similar expressions are
forward-looking statements. These forward-looking statements reflect
management's current views only as of the date of this presentation and
are not intended to give any assurance as to future results. As a result,
you are cautioned not to rely on any forward-looking statements.
Forward-looking statements appear in a number of places in this release.
Although these statements are based upon assumptions we believe to be
reasonable based upon available information, including operating margins,
earnings, cash flow, working capital and capital expenditures, they are
subject to risks and uncertainties.

These risks and uncertainties include, but are not limited to: future
operating or financial results; our expectations relating to dividend
payments and our ability to make such payments; pending acquisitions,
business strategy and expected capital spending; operating expenses,
availability of crew, number of off-hire days, dry-docking requirements
and insurance costs; general market conditions and shipping market
trends, including charter rates and factors affecting supply and demand;
our financial condition and liquidity, including our ability to borrow
funds under our credit facilities and to obtain additional financing in
the future to fund capital expenditures, acquisitions and other general
corporate activities; estimated future capital expenditures needed to
preserve our capital base; our expectations about the availability of
ships to purchase, the time that it may take to construct new ships, or
the useful lives of our ships; our continued ability to enter into
long-term, fixed-rate time charters with our customers; our ability to
leverage to our advantage Seaspan Management Services Limited's
relationships and reputation in the containership industry; changes in
governmental rules and regulations or actions taken by regulatory
authorities; the financial condition of our shipyards, charterers,
lenders, refund guarantors and other counterparties and their ability to
perform their obligations under their agreements with us; changes in
worldwide container demand; changes in trading patterns; competitive
factors in the markets in which we operate; potential inability to
implement our growth strategy; potential for early termination of
long-term contracts and our potential inability to renew or replace
long-term contracts; ability of our customers to make charter payments;
potential liability from future litigation; conditions in the public
equity markets; and other factors detailed from time to time in our
periodic reports. We expressly disclaim any obligation to update or
revise any of these forward-looking statements, whether because of future
events, new information, a change in our views or expectations, or
otherwise. We make no prediction or statement about the performance of
our common shares.

Contacts:
Seaspan Corporation - Investor Relations Inquiries
Mr. Sai W. Chu
Chief Financial Officer
604-638-2575
604-648-9782 (FAX)
www.seaspancorp.com

The IGB Group - Media Inquiries
Mr. Leon Berman
212-477-8438

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