CMA CGM extends Global Ship Lease feeder pair

CMA CGM extends Global Ship Lease feeder pair

London-headquartered Global Ship Lease has sealed 12-month time charter extensions with CMA CGM for a pair of 2,207 teu containerships.

The 2002-built Julie Delmas and 2003-built Delmas Keta enter into their new contracts this month at a fixed rate of $7,800 per vessel per day, substantially lower than the $18,465 per day C<A CGM was previously paying.

Ian Webber, chief executive officer of Global Ship Lease, commented: “We are delighted to have secured extensions for these two time charters with the current charterer, CMA CGM, on an EBITDA positive basis. These agreements are consistent with our strategy of operating our 18-vessel fleet on fixed-rate contracts and our track record of maintaining fleet-wide utilization near 100%, thus enabling us to benefit from a predictable and stable cashflow stream.”

Global Ship Lease’s fleet of 18 containerships has a combined capacity of 83,312 teu and an average remaining charter term of 3.1 years.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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