Bing Chen, President and Chief Executive Officer of Seaspan, commented, "The completion of the GCI acquisition during the first quarter solidified our industry leading position and achieved a number of important strategic objectives for the Company while being accretive to earnings per share.
On the strategic side, the acquisition of GCI improved our fleet composition as we increased our exposure to larger, more modern containerships that are in demand by our customers. In addition, we expanded our relationships with our customers, significantly increasing our contracted future revenue and EBITDA. Finally, the GCI acquisition provided an opportunity for Seaspan to expand its partnership with Fairfax and other financing partners, reinforcing the strength of our integrated platform."
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