GLOBAL Ship Lease has agreed to acquire an 8,063-TEU ship from an unnamed "leading" shipping line for US$53.6 million, bringing the number of vessels in its fleet to 19 with a total capacity of 82,475 TEU.
The 2004-built vessel is expected to be delivered in March, subject to the completion of customary additional documentation and closing conditions, a company statement distributed by Globe Newswire said.
Upon delivery, the ship will be immediately time chartered back to the container line for a period of between 36 and 39 months, with a charterer's option and at a gross rate of $34,500 per day, for a total contracted revenue of between $37.7 million and $40.9 million.
The charter is expected to generate annual EBITDA of $9.4 million. The purchase price will be settled using existing liquidity, including cash on hand and the $40 million revolving credit facility put in place in March.
Chief executive officer Ian Webber said: "Following our successful sale and leaseback of the OOCL Tianjin in late 2014, we are pleased to have agreed to a similar transaction for a similar vessel.
"The new charter adds more than $9 million to annual EBITDA. In combination with the acquisition of the OOCL Tianjin, we have increased our EBITDA generation capacity by more than 20 per cent since the third quarter of 2014."
WORLD SHIPPING
20 February 2015 - 21:54
Global Ship Lease to acquire 8,063-TEU ship
GLOBAL Ship Lease has agreed to acquire an 8,063-TEU ship from an unnamed "leading" shipping line for US$53.6 million, bringing the number of vessels in its fleet to 19 with a total capacity of 82,475 TEU.
WORLD SHIPPING
20 February 2015 - 21:54
Global Ship Lease to acquire 8,063-TEU ship
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