August 12, 2003
Seaspan Container Lines Expands

Seaspan Container Lines confirmed today the placement of an order for 9 new 4250 TEU container ships. The new ships will be chartered to the long-standing Canadian shipping company, CP Ships.

"It is an honour for us to expand our customer base to include CP Ships. Their people, performance, and history are all first class. We are extremely excited about this new relationship", stated Kyle Washington, CEO & Chairman of the Washington Marine Group.

The new ships will be built at Samsung Heavy Industries, in South Korea. Gerry Wang, Director, Seaspan Container Lines commented, "this continues our very strong partnership with Samsung. The quality of the ships we have received from Samsung over the last few years have been outstanding."

This is the 36th large container ship Seaspan has ordered from Samsung Heavy Industries over the past three years.

Washington Marine Group is an association of Washington Companies, primarily involved in coastal and deepsea transportation, ship repair and shipbuilding. For further information, visit our website at www.washingtonmarinegroup.com.

For Further Information: please contact Trish Spencer at 604-990-1828