Global Ship Lease signs new boxship charter with Hapag-Lloyd

Global Ship Lease has agreed a new three-year charter with Hapag-Lloyd for 2015-built, 9,115 teu boxship UASC Al Khor.

The previous charter with Hapag-Lloyd, at $40,000 per day, is set to expire in June and the new charter is in direct continuation through to the second quarter of 2022.

Ian Webber, CEO of Global Ship Lease, commented: “We are pleased to announce another longer-term charter of one of our modern, high-specification, eco, wide-beam containerships acquired through our recent strategic combination with Poseidon Containers. The fixture is consistent with our strategy of locking in contracted cashflow for longer periods when rates have risen to attractive levels, whilst retaining some exposure to the short-term charter market, allowing us to enter into new charters in an improving market. This charter extension further improves our long-term cashflow visibility and is indicative of our expanded relationship with charterers.”

The charter will generate around $28m of adjusted EBITDA.

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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