Acquire this additional stake in Poseidon, which fully aligns with our ONE 2030 strategic growth plan

Singapore, 1 -  Ocean Network Express Pte. Ltd. (ONE) announced the signing of agreements to acquire an additional stake in Poseidon Corp. ("Poseidon") from certain existing shareholders. Poseidon is the ultimate holding company of Seaspan Corporation ("Seaspan"), the world’s largest non-operating owner of containerships. Once these transactions are finalized, ONE’s total ownership stake in Poseidon will increase to 48.9%.Completion of the transaction is subject to customary closing conditions, including receipt of regulatory approvals

Jeremy Nixon, Chief Executive Officer of ONE, says, “Since our initial investment in 2023, Seaspan has achieved remarkable growth as the world’s leading tonnage platform. We are pleased to acquire this additional stake in Poseidon, which fully aligns with our ONE 2030 strategic growth plan.”

Notably In November 2024 ONE formed a 50 – 50 ship management joint venture with Seaspan called OneSea Solutions to offer technical ship management services to the tonnage provider’s customers.

Related : Appointment Till Ole Barrelet CEO ONE succeed Jeremy Nixon in May

 Under the outstanding management of David Sokol.

"Poseidon has done incredibly well under the outstanding management of David Sokol and Bing Chen," said Prem Watsa, Chairman and Chief Executive Officer of Fairfax Financial Holdings. "We are happy to retain a significant equity stake in the company as it brings on new strategic partners, joining Ocean Network Express. This will help continue to grow Poseidon as a world-leading independent maritime asset owner and operator."

Notice of Emergency Fuel Surcharge (EFS) Implementation

On the other hand, the ongoing security situation in the Middle East has disrupted a number of our services. Currently, operations are subject to multiple constraints and contingency measures, and the duration of these conditions is uncertain. As a result, fuel procurement costs have risen significantly across multiple regions and trade lanes, affecting the overall cost of vessel operations and ocean transportation.

About Ocean Network Express

About :Ocean Network Express (ONE),

Ocean Network Express (ONE), headquartered in Singapore, is one of the world's leading liner shipping companies. It operates a fleet of over 260 vessels with a capacity exceeding 2 million TEUs. Through its extensive global network, ONE provides reliable container shipping services to over 120 countries. For more information, please visit www.one-line.com.

About : Poseidon Corp

 Poseidon Corp is a Marshall Islands-based holding company and the parent of Seaspan Corporation, a major independent owner and operator of containerships. As of March 2026, it is undergoing a major ownership restructuring, with Ocean Network Express (ONE) increasing its stake to 48.9%, alongside new investments from Yangzijiang Shipbuilding.

Source : Press - Release

# Poseidon Corp #Seaspan Corporation #(ONE) #David Sokol # Prem Watsa # fuel procurement costs #Jeremy Nixon #Acquisition