Global Ship Lease secures multiple charter contracts, disposes of feeder pair

London-based containership owner Global Ship Lease (GSL) has secured a series of charter extensions and new charters, while also disposing of two elderly boxships.

The company has chartered out five 2,200 – 2,500 teu feeder ships Julie, Manet, Maira, Nikolas and Newyorker, to Sea Consortium, Sea Lead and MSC, at rates between $6,600 and $8,000 per day, with median redelivery periods between the fourth quarter of 2020 and the first quarter of 2021.

Sea-Lead also agreed to a short charter for 5,100 teu panamax ship Dolphin II at a rate of $7,000 per day, with median redelivery in the fourth quarter.

GSL was also awarded a charter extension by ZIM for 5,900 teu post-panamax ship Dimitris Y at a rate of $14,500 per day, with median redelivery in the second quarter of 2022.

Additionally, the company fixed 6,800 teu post-panamax ships GSL Christen and GSL Nicoletta to Maersk and MSC respectively, over the median charter periods to the first quarter of 2021 and third quarter of 2021.

Lastly, GSL entered into charters for 9,100 teu ships Anthea Y and Maira XL to Cosco and another leading liner operator separately, with the median charter periods to the fourth quarter of 2020 and second quarter of 2022. 

“As the global economy continues to be disrupted by Covid-19, Global Ship Lease has been well served by our extensive contract cover, our commitment to seafarer and shore staff safety, and our focus on business resilience. During the second quarter, our attractive fleet of low slot cost, high reefer capacity, mid-sized and smaller containerships, supported by our well-established relationships with leading liner operators, enabled us to maximize on-hire time and secure strong, stable cash flows despite a challenging market,” said George Youroukos, executive chairman of GSL.

Apart from the charters, GSL also reported the sale of two 1999-built 2,200 teu feeder ships GSL Matisse and Utrillo for net proceeds of $7.1m in total.

GSL posted a net income of $12.6m for the second quarter of 2020.

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.
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