Global Ship Lease acquires and charters back seven boxships

London-headquartered Global Ship Lease has entered into an agreement to purchase and charter back seven 6,000 teu post-panamax containerships.

The average age of the vessels is around 20 years and the total purchase price is $116m. The vessels will be chartered back to major liner operators for a minimum firm period of 36 months each, with two one-year extension options.

The vessels are scheduled for delivery during the second and third quarters of 2021, and will be renamed GSL Arcadia, GSL Dorothea, GSL Maria, GSL Melita, GSL MYNY, GSL Tegea and GSL Violetta. 

GSL, who’s clients include Maersk, MSC, CMA CGM, COSCO, Hapag-Lloyd and ZIM, did not reveal the identity of the seller.

“We believe this transaction will deliver attractive financial returns with predictable contracted cashflows and low residual value risk. Furthermore, it illustrates our return to accretive growth, leveraging our competitive advantages of strong industry relationships, track record of delivering safe and reliable service to our customers, and proven ability to manage older ships efficiently,” said George Youroukos, executive chairman of Global Ship Lease.

Global Ship Lease currently owns 43 containerships with a total capacity of 245,280 teu.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
Back to top button