As of March 1, 2021, Atlas Corp operated a fleet of 127 vessels that have an average age of approximately eight years, weighted by TEU.
As a result, the charters of those vessels in Atlas Corp.’s operating fleet had an average remaining lease period of about four years, excluding the effect of charterers’ options to extend certain time-based charters.
Customers of the company‘s operational fleet as of March 1, 2021 were the following: CMA CGM, COSCO, Hapag-Lloyd, KMTC, Maersk, MSC, ONE, Yang Ming Marine and ZIM.
Atlas Corp. is a global asset manager and the parent company of Seaspan and APR Energy.
Within it, Atlas Corp. has two reportable segments: container ship leasing and mobile power generation.
On the one hand, the container leasing segment, which is carried out through Seaspan, owns and operates a fleet of container ships that it rents to the main container transport companies.
On the other hand, the power generation segment, which is carried out through APR Energy, owns and operates a fleet of power generation assets, including gas turbines and other equipment, and provides energy solutions to customers. through various contracts.
Through Seaspan, the company is a leading independent owner and manager of container ships.
The company primarily deploys its vessels on long-term fixed-time charters to take advantage of the stable cash flow and high utilization rates typically associated with long-term time charters.
The primary objective for Seaspan is to continue to grow the container ship leasing business through cumulative vessel acquisitions as market conditions allow.
Most of the revenue from its clients’ container ship business is derived from shipping goods from the Asia Pacific region, primarily China, to various foreign export markets in the United States and Europe.