CMA CGM Keeps GSL Tianjin Employed for a While Longer

  • Business & Finance

French liner company CMA CGM has decided to extend the charter for the GSL Tianjin, a 2005-built, 8,063 TEU containership, owned by Global Ship Lease.

The vessel will be chartered for a period of eight to twelve months, at the charterer’s option, at a fixed rate of USD 11,900 per day, commencing in direct continuation from its current charter on January 26, 2018.

CMA CGM hired the ship back in October 2017 for a period of three to eight months at a fixed rate of USD 13,000 per day.

The charter commenced following the ship’s delivery from OOCL which was the ship’s previous charterer and owner.

 “We are pleased to have secured this extension with CMA CGM for the continued employment of the GSL Tianjin. We look forward to maintaining our strong relationship with CMA CGM, our largest shareholder and the third largest liner company in the world, and to benefitting over time from the improving long-term fundamentals for mid-sized and smaller containerships, ” Ian Webber, Chief Executive Officer of Global Ship Lease, commented.

CMA CGM charters 16 ships of the Marshall Islands-incorporated containership charter owner, which has 18 ships in its fleet.

 The average remaining term of the charters, including extension options, stood at 2.8 years or 3.1 years on a weighted basis, taking into account the charter extension agreed for GSL Tianjin, GSL said.

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