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Global Ship Lease to Acquire Two Post-Panamax Containerships on Long Term Charters

Logistic News - Published on Thu, 28 Nov 2019

Image Source: Global Ship Lease
Global Ship Lease Inc announced today that it has agreed to acquire two 2004-built, 6,080 TEU Post-Panamax containerships for an aggregate purchase price of $24.5 million and with charters in place to a leading liner operator for minimum 52 months and maximum 60 months. The vessels, which have bows optimized for fuel efficiency at lower operating speeds, are scheduled for delivery by the end of this year. The vessels are expected to generate aggregate Adjusted EBITDA of approximately USD 21 million over the term of the contracted charters, assuming the median expiry dates. With these additions, the Company’s fleet will comprise 45 vessels with a total capacity of 249,622 TEU.

The vessels are being acquired from Black Pearl Containers LLC, a company controlled by the former shareholders of Poseidon Containers, with which the Company merged in November 2018, and pursuant to the Company’s Right of First Refusal on all such containership purchase opportunities and divestments. The Company has agreed debt finance in connection with the acquisition of these ships.

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Posted By : Yogender Pancholi on Thu, 28 Nov 2019
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