Seaspan, Feds Finalize $8-Billion Shipbuilding Deal

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Seaspan shipbuilding | BCBusiness
Image by: US Navy Imagery
The details of Seaspan's $8 billion shipbuilding contract were finalized Thursday.

While Seaspan’s major shipbuilding contract was awarded back in October, signing the final deal this week serves as a reminder of the economic boon for the Lower Mainland.

On Thursday, Prime Minister Stephen Harper and Seaspan Marine Corp. finalized the details for an $8-billion shipbuilding contract.
 
The prime minister made his way to Seaspan’s North Vancouver headquarters to sign the agreement outlining the responsibilities and partnership between the federal government and Seaspan.
 
Seaspan originally received news they’d won the $8 billion non-combat vessel portion of a $35 billion federal shipbuilding initiative in October of last year. So, while the finalized agreement isn’t exactly a surprise, it does serve as a reminder that this contract is a major economic boon for the region.
 
The contract is expected to create 4,000 direct and indirect jobs around the Lower Mainland and Vancouver Island. The work will be dispersed across Seaspan’s three shipyards – Vancouver Shipyards, Vancouver Drydock and Victoria Shipyards.
 
Thus far, Seaspan reports it has already received around 2,000 unsolicited resumes – a sign workers are eager for this kind of long-term, steady employment. The contract will significantly boost the region’s middle class, which will in turn boost the local economy as 4,000 more workers have a higher disposable income.
 
Obviously, these contracts will generate a lot more than a few new ships for the Royal Canadian Navy.



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