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Seaspan Corporation is clearly engaged in a campaign to dominate the containership leasing business. It seems a week does not go by without a new acquisition being announced. Beginning in December 2020 the company went on a full-scale assault acquiring a total of 41 vessels, comprising 37 newbuildings and four secondhand vessels, increasing its fleet to 168 vessels (~10% market share).

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Last week, Navigator Holdings Ltd. announced the signing of a non-binding Letter of Intent (the "LOI") with Naviera Ultranav Limitada to merge Ultragas ApS' fleet and business activities with Navigator. Navigator will buy privately held Ultragas in an all-stock transaction, which values both companies on a NAV basis.

Back in January 2021, Pareto Securities AS ("Pareto") formed Green Feeder AS to acquire two 1,025 TEU ICE 1A scrubber-fitted feeder container vessels trading in Northern Europe. A Norwegian limited tonnage tax company, Green Feeder AS will be the owner of the vessels and will be funded by equity and debt raised by Pareto.

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Last week, Navios Maritime Acquisition Corporation announced that it had entered into a secured loan agreement with a subsidiary of N Shipmanagement Acquisition Corp., an entity affiliated with the company's Chairman and Chief Executive Officer, for a loan of up to $100.0 million to be used for general corporate purposes.

Last week, Global Ship Lease, Inc. announced the pricing of its secondary offering of 4.5 million shares of its common stock (12.4% of the outstanding shares) by affiliates of Kelso & Company, a U.S. private equity firm, and Maas Capital Investments B.V. at a public offering price of $12.50 per share, a discount of 11.1% from the prior day's closing price of $14.06.