Global Ship Lease, Inc., a containership charter owner, has agreed a three-year charter with Hapag-Lloyd for the 2015-built, 9,115 TEU containership UASC Al Khor, the company said in its release. The new charter is in direct continuation of the current charter and is expected to commence in June, 2019, with re-delivery in the second quarter 2022. The charter is expected to generate approximately $28 million of Adjusted EBITDA.
About Global Ship Lease
Global Ship Lease is a leading independent owner of containerships with a diversified fleet of mid-sized and smaller containerships. Incorporated in the Marshall Islands, Global Ship Lease commenced operations in December 2007 with a business of owning and chartering out containerships under mainly long-term, fixed-rate charters to top tier container liner companies. On November 15, 2018, it completed a strategic combination with Poseidon Containers.
Global Ship Lease owns 38 vessels ranging from 2,207 to 11,040 TEU, of which nine are fuel efficient new-design wide beam, with a total capacity of 198,803 TEU and an average age, weighted by TEU capacity, of 11.0 years determined as at December 31, 2018.
The average remaining term of the charters at December 31, 2018 was 2.5 years on a TEU-weighted basis.