UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under The Securities Exchange Act of 1934

(Amendment No. 17)

SEASPAN CORPORATION

(Name of Issuer)

Class A common shares, $.01 par value per share

(Title of Class of Securities)

Y75638109

(CUSIP Number)

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

Copy to:

Gary Kocher

K&L Gates LLP

925 Fourth Avenue, Suite 2900

Seattle, WA 98104-1158

Phone: (206) 370-8343

Fax: (206) 370-6199

December 27, 2012

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.  x

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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EXPLANATORY STATEMENT

This Amendment No. 17 to Schedule 13D (“Amendment No. 17”) relates to shares of Class A Common Shares, par value $0.01 per share (the “Common Shares”) of Seaspan Corporation, a corporation organized and existing under the Republic of the Marshall Islands (the “Issuer”). This Amendment No. 17 is being filed on behalf of the following persons (collectively, the “Reporting Persons”): Deep Water Holdings, LLC, The Roy Dennis Washington Revocable Living Trust created under Agreement dated November 16, 1987, including all subsequent amendments, modifications and restatements, Mr. Dennis R. Washington, The Kyle Roy Washington 1999 Trust II, The Kevin Lee Washington 1999 Trust II, the Kyle Roy Washington 2005 Irrevocable Trust created under agreement dated July 15, 2005, including all subsequent amendments, modifications and restatements, Copper Lion, Inc., and Mr. Kyle R. Washington.

This Amendment No. 17 amends and supplements the Schedule 13D previously filed with the Securities and Exchange Commission on February 11, 2009, as amended on May 15, 2009 and as subsequently amended on May 27, 2009, August 20, 2009, August 31, 2009, September 11, 2009, October 6, 2009, May 28, 2010, June 23, 2010, March 18, 2011, April 19, 2011, December 13, 2011, January 31, 2012, March 13, 2012, March 28, 2012, August 2, 2012, and August 23, 2012 (the “Schedule 13D”). This Amendment No. 17 adds the following new Reporting Person: Mr. Kyle R. Washington.

Unless otherwise noted, capitalized terms used herein without definitions shall have the meanings assigned to them in the Schedule 13D. Except as specifically set forth in this Amendment No. 17, the Schedule 13D remains unmodified.

On December 27, 2012, the Issuer and American Stock Transfer & Trust Company (the “Rights Agent”) entered into Amendment No. 2 (“Amendment No. 2”) to the Amended and Restated Shareholders Rights Agreement, dated April 19, 2011, as amended by Amendment No. 1 dated January 27, 2012 (as amended, the “Rights Agreement”). As further described below under Item 6, pursuant to Amendment No. 2, the Rights Agreement was amended to exclude Common Shares acquired by the Reporting Persons pursuant to the Issuer’s Dividend Reinvestment Plan (the “DRIP”) from the trigger under the Rights Agreement applicable to the Reporting Persons and to simplify such Rights Agreement by eliminating exceptions to the 30% trigger and increasing such amount to 70%. In addition as further described below under Item 6, on December 27, 2012, the Issuer, the Reporting Persons and an additional party entered into an agreement (the “DRIP Agreement”) pursuant to which the Reporting Persons have agreed to participate in the DRIP with respect to any cash dividends paid on the Issuer’s Common Shares or Series A Shares through and for the quarter ending March 31, 2015.

Reference is made to the text of the Report on Form 8-A/A filed by the Issuer with the U.S. Securities and Exchange Commission on December 27, 2012 (the “Form 8-A/A”) and to Amendment No. 2 filed by the Issuer as an exhibit to the Form 8-A/A. Amendment No. 2 as so filed by the Issuer is incorporated herein by reference. A copy of the DRIP Agreement is attached hereto as Exhibit 10.1 and incorporated herein by reference. The descriptions herein of Amendment No. 2 and the DRIP Agreement are summaries only and qualified in their entirety by the specific terms of such documents.

(a) The following new Reporting Person is added to this Schedule 13D: Mr. Kyle R. Washington.

(b)-(c) Mr. Kyle R. Washington is an individual whose principal address is c/o Seaspan Corporation, 2600-200 Granville Street, Vancouver, British Columbia, Canada V6C 1S4. The principal occupation or employment of Mr. Kyle R. Washington is co-chairman of Seaspan Corporation. Such employment is conducted at the following address 2600-200 Granville Street, Vancouver, British Columbia, Canada V6C1S4.

(d) During the last five years, Mr. Kyle R. Washington has not been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors).

(e) During the last five years, Mr. Kyle R. Washington has not been party to any civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which such person was or is subject to any judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws.

(f) Mr. Kyle R. Washington is a U.S. citizen.

Item 3 of this Schedule 13D is hereby amended and supplemented by adding the following text to the end of Item 3.

Pursuant to the DRIP Agreement, each of the Reporting Persons has agreed to fully participate in the DRIP with respect to any and all cash dividends paid on the Issuer’s Common Shares and Series A Shares owned by each such reporting person through and for the quarter ending March 31, 2015. Except as disclosed in this Amendment 17, no additional consideration was paid by any of the Reporting Persons to acquire such shares pursuant to the DRIP and none of the Reporting Persons will purchase any Common Shares pursuant to the DRIP with borrowed funds.

In addition, Mr. Kyle R. Washington acquired shares disclosed in Schedule A in consideration for service on the board of directors of the Issuer. None of the shares disclosed in Schedule A were purchased with borrowed funds.

Item 4 of this Schedule 13D is hereby amended and supplemented by adding the following text to the end of Item 4.

The Reporting Persons have acquired Common Shares pursuant to the DRIP and in consideration for board service for investment purposes only and will continue to evaluate their ownership and voting positions in light of evolving circumstances and subject to any applicable restrictions.

(a) See items 11 and 13 of the cover pages to this Schedule 13D for the aggregate number of shares of Common Shares and percentage of Common Shares beneficially owned by each of the Reporting Persons.

(b) See items 7 through 10 of the cover pages to this Schedule 13D for the number of shares of Common Shares beneficially owned by each of the Reporting Persons as to which there is sole power to vote or to direct the vote, shared power to vote or to direct the vote and sole or shared power to dispose or to direct the disposition.

(c) Schedule A hereto sets forth certain information with respect to transactions by the Reporting Persons in the Issuer’s Common Shares during the past 60 days.

(d) Except as set forth in this Schedule 13D, to the knowledge of the Reporting Persons, no person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, securities covered by this Schedule 13D.

Item 6 of this Schedule 13D is hereby amended and supplemented by adding the following text to the end of Item 6.

In connection with Amendment No.2 to the Rights Agreement, on December 27, 2012, the Issuer entered the DRIP Agreement with each of the Reporting Persons and Mr. Kevin L. Washington concerning their participation in the DRIP. Pursuant to the DRIP Agreement, each of the parties thereto other than the Issuer agreed to fully participate in the DRIP to the extent that he or it Beneficially Owns (as defined in the Rights Agreement) Common Shares or Series A shares with respect to any and all cash dividends paid on through and for the quarter ending March 31, 2015.

SIGNATURES

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

Schedule A

Purchase Transactions of Common Shares

By the named Reporting Person during the last 60 days

Exhibit 10.1

December 27, 2012

Seaspan Corporation

Unit 2, 7th Floor Bupa Centre

141 Connaught Road West

Hong Kong, China

Attention: Chief Financial Officer

Re: Washington Family Agreement to Participate in Dividend Reinvestment Plan

Gentlemen:

Reference is made to the Amended and Restated Shareholders Rights Agreement dated April 19, 2011, as amended by Amendment No. 1 dated January 27, 2012 and Amendment No. 2 to be dated on or about the date hereof (collectively, the “Rights Agreement”), between Seaspan Corporation (the “Corporation”) and American Stock Transfer & Trust Company, LLC, as Rights Agent. Capitalized terms used but not defined in this letter agreement shall have the meanings assigned to such terms in the Rights Agreement.

The Corporation and the Washington Family have discussed the proposed amendments set forth in Amendment No. 2 to the Rights Agreement (“Amendment No. 2”). To induce the Corporation to enter into Amendment No. 2, each of the undersigned members of the Washington Family agrees and covenants that, to the extent that he or it Beneficially Owns, as of the date hereof or hereafter, Common Shares or Series A shares (collectively, “Shares”), he or it will fully participate in the Corporation’s Dividend Reinvestment Plan (the “DRIP”) with respect to any and all cash dividends paid on such Shares through and for the quarter ending March 31, 2015.

The undersigned members of the Washington Family (a) represent and warrant to the Corporation that no other member of the Washington Family Beneficially Owns Shares as of the date hereof and (b) agree that they will not transfer any Shares to any other member of the Washington Family or permit any other member of the Washington Family to acquire Beneficial Ownership of any Shares, in each case without first causing such other member of the Washington Family to agree to the terms of this letter agreement for the benefit of the Corporation.

It is understood and agreed that money damages would not be a sufficient remedy for any breach of this letter agreement by any of the members of the Washington Family and that the Corporation shall be entitled to equitable relief, including, without limitation, injunction and specific performance, as a remedy for any such breach. Such remedies shall not be deemed to be the exclusive remedies for a breach of this letter agreement, but shall be in addition to all other remedies available at law or in equity.

This letter agreement (a) sets forth the entire understanding and agreement between the parties hereto with respect to the subject matter hereof, (b) may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument, (c) shall be interpreted, enforced and governed by and under the laws of British Columbia, and any disputes shall be arbitrated or litigated in Vancouver, British

Columbia, (d) shall not be modified or amended except by a written instrument signed by the parties hereto and (e) shall be binding upon and inure to the benefit of the parties hereto and their respective successors, assigns, heirs and personal representatives.

[Remainder of Page Intentionally Left Blank]

ACKNOWLEDGED AND AGREED as of the date first written above:

Exhibit 10.2

JOINT FILING AGREEMENT

We, the signatories of the statement to which this Joint Filing Agreement is attached, hereby agree that such statement is filed, and any amendments thereto filed by any or all of us will be filed on behalf of each of us.

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