"While there is still much to do in the restructuring process, including obtaining shareholders' and regulatory approvals, we believe this is a positive step towards achieving a successful restructuring." Seaspan, the world's largest independent owner and manager of containerships, has agreed, subject to several conditions precedent, to invest an initial US$10 million for an 80% shareholding in New Swiber. Upon meeting various milestones in relation to the development stage liquefied natural gas (LNG)-to-power project in Vietnam, a further US$190 million will be invested to subscribe for new preference shares in Equatoriale Energy Pte Ltd, a wholly-owned Swiber subsidiary.