NO: DELENG / 2017 / 70663
official media partner of national maritime foundation
Purchase of four 8,500 teu ships by Global Ship Lease
By Seaandcoast | 10/05/2023
Global Ship Lease, a boxship expert, has agreed to pay $123.3 million in total to buy and charter back four 8,500 teu ships with an average age of about 20 years. Each of the charters is to a top liner operator for a minimum definite term of 24 months, with an optional 12-month extension. Over the minimum firm period, it is anticipated that the vessels will provide a total of about $76.6 million in adjusted EBITDA.
The company's fleet will now consist of 68 vessels with a combined capacity of 375,406 teu after these additions.
The ships will be renamed GSL Alexandra, GSL Sofia, GSL Lydia, and GSL Effie after a phased delivery is planned for the second and third quarters of 2023.
The purchase offers good economics, combining stable contracted cashflows with little residual value risk, comparable with our earlier transactions, said George Youroukos, executive chairman of Global Ship Lease. It also shows the value of our solid financial position, extensive network, and methodical, return-focused acquisition approach over the long term.