Global Ship Lease has entered the newbuilding market for the first time, signing contracts for 10 containerships in a deal valued at about US$917 million, reported Singapore Splash 247.

The Athens-based owner stated that the mid-sized, ultra-high-reefer, wide-beam vessels will be delivered between the fourth quarter of 2028 and the first quarter of 2030. All ships have secured multi-year charters upon delivery.

The charters carry a TEU-weighted average duration of 6.7 years and are expected to generate about US$665 million in aggregate adjusted EBITDA over their initial terms. The company noted that the program is supported by its balance sheet strength and a charter backlog of approximately US$2.1 billion.

This order marks a strategic shift for the George Youroukos-led firm, which has traditionally focused on acquiring secondhand tonnage rather than commissioning new vessels. Shipbuilding sources indicated that eight of the ships will be conventionally fueled 6,200 TEU units built by China's Taizhou Sanfu Ship Engineering.

Executive Chairman Youroukos stated that the vessels were designed to meet evolving liner requirements while offering flexibility across trade routes. He added that fixing all 10 ships on multi-year charters aligns with the company's strategy of limiting downside risk while retaining upside potential.

Global Ship Lease currently controls about 70 containerships and has built its business around buying and chartering existing vessels. The company emphasized that the newbuilding program will ensure its aging fleet is replaced with modern ships capable of serving global container trades for years to come.