Attessa IV Owner’s Corporate Connection: Seaspan

PACIFIC NORTHWEST — The megayacht Attessa IV was involved with an open-ocean collision with Prowler on Oct. 26. Dennis Washington owns the 332-foot Attessa IV. What do we know of Washington?

Forbes, for starters, valued Washington at $6 billion (as of Nov. 15). He is considered Montana’s richest man, according to Forbes. The financial publication added Washington made his money in construction and mining. He might be a billionaire now but Washington didn’t always have it so easy – the head of Washington Companies was reportedly diagnosed with polio when he was 8 years old and, shortly thereafter, shined shoes for pocket money.

Washington, 84, made his fortunes as the head of a conglomerate of companies that includes Seaspan. Within the Seaspan family is Seaspan Marine, Seaspan Ferries Corp., Seaspan Shipyards, Vancouver Drydock, Vancouver Shipyards, Victoria Shipyards and Marine Petrobulk. The companies collectively offer a variety of services: barging, commercial ferry, cruiseship repairs, marine bunkering, marine projects, ship assist and escort, and shipbuilding and repair. Seaspan Corp. reportedly has 110 container ships.

Seaspan traces its history to 1898, when it started as a tug service in Canada’s British Columbia. Vancouver Tug and Island Tug & Barge eventually became one company in 1958. Island Tug & Barge was aquired by Genstar Ltd. in 1969, setting up the creation of Seaspan in 1970.

There were a few more transactions before Washington came into the picture in 1992. Seaspan, under Washington’s leadership, acquired various marine assets and created a multi-billion dollar partnership with the Canadian government (National Shipbuilding Strategy).

Canadian shipyards, under the National Shipbuilding Strategy, are selected to rebuild the fleets of the Royal Canadian Navy and country’s Coast Guard.