NEW YORK-listed Global Ship Lease Inc, which was conceived to charter ships to CMA CGM, has agreed to acquire an 8,063-TEU containership from a leading container liner company for US$55 million.
The vessel will be time chartered back to the container liner company for a period of 36 to 39 months, at charterer's option, at a gross rate of $34,500 per day, for total contracted revenue of between $37.7 million and $40.9 million.
The acquisition of the vessel is expected to generate annual pre-tax profit of $9.4 million. Upon delivery Global Ship Lease will have 18 vessels with a total capacity of 74,412 TEU.
"We are pleased to have developed this attractive opportunity, partnering with a leading container liner company and meeting our strict investment criteria and increases our annual EBITDA by over $9 million," said CEO Ian Webber.
"We remain confident in the positive underlying fundamentals of the containership industry, and our financial strength and flexibility position us well to continue to pursue fleet growth during a time of cyclically low asset values," he said.
"Looking forward, we will continue growing our fleet with a focus on accretive, charter-attached acquisitions," Mr Weber said.
Global Ship Lease was formed in 2007 to acquire a fleet of a dozen containerships from its parent, CMA CGM, and then lease the vessels back to French shipping giant - a cost-saving alternative to direct ownership.
In 2008, CMA CGM sold a major stake in Global Ship Lease to Marathon Acquisition, a publicly traded "blank check" company. The combined company took the Global Ship Lease name. The fleet, which is solely chartered to CMA CGM had 20 containerships.
WORLD SHIPPING
24 September 2014 - 20:37
Global Ship Lease announces deal to buy already chartered 8,063-TEUer
NEW YORK-listed Global Ship Lease Inc, which was conceived to charter ships to CMA CGM, has agreed to acquire an 8,063-TEU containership from a leading container liner company for US$55 million.
WORLD SHIPPING
24 September 2014 - 20:37
Global Ship Lease announces deal to buy already chartered 8,063-TEUer
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