CMA CGM extends charters of Global Ship Lease boxships

CMA CGM extends charters of Global Ship Lease boxships

Two small containerships owned by Global Ship Lease (GSL) have had their charters to CMA CGM extended by up to 3.25 years.

The vessels, Marie Delmas and Kumasi (both 2,207 teu, built 2002), will each earn $13,000 per day during their respective extension periods, which commenced on August 1.

The earliest expiry of the charters is September 2017, after which GSL has an option period of 1.25 years and two additional one-year option periods until December 31, 2020. The optional periods will be fixed at $9,800 per day.

“We are pleased to have secured extended terms through the end of 2020 for two of our earliest expiring charters, increasing our contracted revenue by $19.0m at a time when much of the container shipping market continues to experience significant distress,” Ian Webber, CEO of the NYSE-listed shipowner, said in a release.

“Additionally, our successive charter options on these two vessels from late 2017 position us to benefit in a strengthening market, while ensuring a base charter rate that is in excess of the current prevailing spot market rates.”

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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