Global Ship Lease containership gets another timecharter extension

Global Ship Lease containership gets another timecharter extension

Athens: X-Press Feeders, part of Singapore-based Sea Consortium, has further extended its timecharter of a panamax containership owned by Global Ship Lease.

Ville d’Aquarius (4,113 teu, built 1996) has had its contract extended by an additional four to six months at a gross rate of $10,700 per day.

The extension period will commence when the current timecharter expires on June 3, having commenced on December 3, 2014.

The rate is an increase on the current charter rates of $8,390 per day for a four- to -six-month period, which was itself an extension of the original timecharter.

The original timecharter was fixed in early May last year at a gross rate of $7,490 per day for an up to four-month period.

“We are delighted to have agreed with Sea Consortium / X-Press Feeders to extend the charter for the Ville d’Aquarius at a significantly higher rate than its previous charter, with no idle time or repositioning costs,” Ian Webber, Global Ship Lease’s CEO, said in a statement today.

“The extension maintains full fleet charter coverage and allows us to benefit from the improving market for mid-size and smaller vessels by achieving a 30% increase in the charter rate for this 1996-built vessel.”


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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