Ocean Network Express Pte. Ltd. (ONE) has 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.

Upon the successful closing of these transactions, ONE's total ownership stake in Poseidon will increase to 48.9%.

Jeremy Nixon, chief executive officer of ONE, said since the company's 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," he said.

Completion of the transaction is subject to customary closing conditions, including receipt of regulatory approvals.

Poseidon was created after Atlas Corp. was taken private in 2023 by a consortium led by Fairfax Financial Holdings, the Washington family and David Sokol, together with strategic investor Ocean Network Express (ONE).

Since then, ONE has steadily increased its ownership in the company; with its planned 48.9% stake, the carrier is set to become Poseidon’s largest single shareholder. Poseidon remains the parent company overseeing Seaspan's global fleet‑leasing business under this shared‑ownership structure.