• 2021 June 17 11:30

    Global Ship Lease announces agreement to acquire four ultra-high reefer containerships on multi-year charters

    Global Ship Lease, Inc. has agreed to purchase four 5,470 TEU Panamax containerships with an average age of approximately 11 years for an aggregate purchase price of $148 million, according to the company's release. On delivery, the ships will be chartered to a leading liner operator for a firm period of three years each, with a charterer’s option for a period of an additional three years.

    During the three-year firm period, the vessels are expected to generate aggregate Adjusted EBITDA of approximately $124.4 million, implying a strongly accretive average Purchase Price / Annual Adjusted EBITDA multiple of approximately 3.6x. If the options are exercised, the vessels are expected to generate approximately $42.2 million of additional Adjusted EBITDA. With these additions, the Company’s fleet will comprise 66 vessels with a total capacity of 344,650 TEU.

    The ships are scheduled for delivery during the third quarter of 2021. The Company expects to fund the purchase price with cash on hand and senior secured debt.

    Based on the existing charters, the newly acquired ships are expected to contribute approximately $42.5 million of Adjusted EBITDA in the first 12 months. This represents an increase of approximately 25.2% on Adjusted EBITDA for the 12 months ended March 31, 2021. The ships are anticipated to add approximately $0.88 of earnings per share in the first 12 months, based on today’s outstanding share count, today’s LIBOR, and other assumptions, representing an increase of approximately 56.4% compared to Adjusted earnings per share for the 12 months ended March 31, 2021.

    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 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 49 containerships and has contracted to purchase a further 17 ships, ranging from 1,118 to 11,040 TEU, with a total capacity (when fully delivered) of 344,650 TEU. 32 ships are Post-Panamax, of which nine are fuel-efficient new-design wide-beam.

    Adjusted to include all charters agreed, and ships acquired or divested as at May 31, 2021 for a total on-the-water fleet of 49 ships, the average remaining term of the Company’s charters as at March 31, 2021, to the mid-point of redelivery, including options under the Company’s control, was 2.6 years on a TEU-weighted basis. Contracted revenue on the same basis was $984.3 million. Contracted revenue was $1,134.9 million, including options under charterers’ control and with latest redelivery date, representing a weighted average remaining term of 3.1 years.




2021 August 3

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17:59 Lead passenger ship Meteor 120R of new generation launched in the Nizhny Novgorod Region
17:25 A subsidiary of KCC has signed a new Contract of Affreightment for its CLEANBU fleet with a major international charterer in the tanker market
16:47 Petersburg Oil Terminal obtains permit for construction of its new handling facility
16:24 Nigerian Chamber of Shipping becomes full ICS member
15:22 Vard delivers “Le Commandant Charcot” to Ponant
15:00 Bunker sales at Vladivostok port in 7M’2021 fell by 30% YoY
14:41 Construction of new facilities to commence at Onezhsky Shipyard in autumn 2021 года
14:23 CMA CGM announces PSS for cargo bound for East Russia
13:42 The Panama Canal resumes seasonal measures to protect migrating marine life
13:12 CMA CGM announces THC for Novorossiysk, Russia import/export
12:57 ABP’s Ports of Ipswich and Ayr enable wheat cargo to be shipped more sustainably
12:22 Wärtsilä to provide efficient service support for Brazilian river tugs despite challenging operating conditions
11:59 MOL to build series of 4 LNG-fueled car carriers
11:58 FESCO starts seasonal delivery of cargo from ports of China and the United States to Chukotka
11:36 Finnlines announces adjustment of bunker surcharge in its own container traffic
10:54 Baltiysky Zavod shipyard casts third one-piece propeller for Project MR-50 product tankers
10:30 Tallink Grupp published its statistics for July 2021
10:09 Maersk raises full-year guidance
09:57 Oil prices decrease amid coronavirus related restrictions
09:41 Baltic Dry Index as of August 2
09:23 Yaroslavsky Shipyard launches non-self-propelled dredging ship of Project RDB 66.42М
09:08 Japan’s Ministry of Internal Affairs and Communications gives the green light to Iridium services
08:58 MABUX: Global bunker prices may drop on Aug 03 following sharp decline on crude market yesterday
08:09 The largest water-rail intermodal terminal of the Yangtze River starts operations

2021 August 2

19:09 Seven dredging ships deployed for operation on Sea Canal in the Gulf of Ob
18:35 LR unveils key appointment for its Maritime Performance Services business
17:54 CMA CGM announces PSS for cargo from the Middle East Gulf to North Europe, Scandinavia, Poland, Baltic, West Med & Adriatic, East Med, Black Sea, North Africa & Morocco
17:46 LUKOIL announces new oil finding in Sayulita prospecting area of Block 10 offshore Mexico
17:30 CMA CGM has announced PSS for cargo from India to North Europe & the Mediterranean
17:28 CMA CGM announces PSS for cargo from North Europe, UK, Scandinavia, Poland & North Spain to Colombia Atlantic & Dominican Republic
17:27 Large hydrographic survey vessel of Project 23370G, Grigory Shadrin, launched in Murmansk
17:23 CMA CGM to launch a new Express Shuttle service linking East Asia to Russian Far East
17:05 Sri Lanka Ports Authority successfully reworks leaked chemical container on board
16:54 Rhenus Group plans to acquire the Polish freight forwarding and logistics company C. Hartwig
16:30 Sea Port of Saint-Petersburg enhanced its environmental safety
16:03 Maersk’s digital logistics platform Twill increases its presence in Gdansk
15:38 Maersk launches new system notification for containers at BCT Gdynia port
15:14 FESCO dispatches its first full-length train with Korean cargo as part of the new Asia-Europe service
14:49 Diana Shipping announces signing of a supplemental agreement with Nordea Bank
14:38 Average spot market price for Russian M100 product rose to RUB 25,045 pmt
13:59 Tallink Grupp to increase share capital and to conduct public offering of new shares
13:13 Seventh ship of Project RSD59, Valentin Smyslov, put into operation
12:30 Russian Railways' network loading climbed by 4.5% in 7M’2021
12:05 Tuapse Sea Commercial Port increased its half-year throughput by 11.8%
10:52 Baltic Workboats delivers Patrol 22 WP model to Belgian Police
10:26 Aker Arctic representative to report on development of icebreakers effectivity at IAA PortNews’ conference on NEVA Exhibition zero day
10:04 Austal Australia delivers 12th Guardian Class Patrol Boat
09:58 Operations poised to begin at “Mitsubishi Heavy Industries Maritime Systems”
09:31 Oil prices decrease amid coronavirus concerns
09:14 Baltic Dry Index as of July 30
08:49 MABUX: Global bunker prices may rise slightly on Aug 02

2021 August 1

14:43 Siem Offshore secures contract from Seaway 7
13:22 NYK issues first transition bonds in Japan
12:37 Minerva Bunkering Partners with rise-x.io adding end to end workflow to the Advanced Delivery Platform (ADP)
11:04 Silversea Cruises officially names newest ship, Silver Moon, in Athens

2021 July 31

13:08 Ammpower Corp signs MOU to provide green ammonia energy solutions to Porto Central in Brazil
11:47 Tiel-Waardenburg dyke reinforcement awarded to Van Oord, Dura Vermeer and Ploegam
11:12 Holland America Line takes delivery of new cruise ship at Fincantieri's Marghera shipyard
10:56 IMI and CSM sign agreement for cooperation in various business areas