Global Ship Lease buys four 8,500-TEUers with reliable cashflows
CONTAINERSHIP specialist Global Ship Lease has agreed to purchase and charter back four 8,500-TEU ships with an average age of 20 years for an aggregate purchase price of US$123.3 million, reported Singapore's Splash 247.
The charters are to a top liner operator for a minimum firm period of 24 months each, followed by a 12-month extension at the charterer's option. The vessels are expected to generate aggregate adjusted EBITDA of $76.6 million over the minimum firm period.
With these additions, the company's fleet will comprise 68 vessels with a total capacity of 375,406 TEU.
The vessels are scheduled for phased delivery during the second and third quarters of 2023, at which point the vessels will be renamed GSL Alexandra, GSL Sofia, GSL Lydia and GSL Effie.
Said Global Ship Lease chairman George Youroukos: "The transaction offers strong economics, combining predictable contracted cashflows with low residual value risk, consistent with our prior transactions."
source:SchedNet
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