Global Ship Lease to Expand Fleet with 2005-Built Boxship

  • Business & Finance

UK-based containership charter owner Global Ship Lease has agreed to acquire a 2,800 TEU containership to service a time charter with French shipping major CMA CGM.

The company said it would pay a price of USD 11.3 million for the 2005-built high-specification vessel.

Following delivery, which is expected to be during the second quarter of 2018 once the existing charter terminates, the containership will be renamed and will commence charter employment with CMA CGM for a period of 12 months at a fixed rate of 9,000 per day.

With this addition, Global Ship Lease’s fleet will comprise 19 vessels with a total capacity of 85,112 TEU.

“We are pleased to have expanded our fleet in a strengthening market with the acquisition of this high-specification vessel at an attractive price,” Ian Webber, Chief Executive Officer of Global Ship Lease, said.

“We remain optimistic for the continued tightening of the supply/demand balance for mid-sized and smaller vessels, and we will continue to pursue attractive, immediately accretive acquisition opportunities for the benefit of shareholders,” Webber added.

Global Ship Lease currently owns 18 vessels with an average age of 13 years. All 18 vessels are currently fixed on time charters, 16 of which are with CMA CGM.

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