Global Ship Lease takes delivery of 10,960-TEUer, its 16th ship

GLOBAL Ship Lease, a containership charter owner, has announced that it has taken delivery of the 10,960-TEU CMA CGM Thalassa, adding to its fleet of 16 vessels, all on charter at fixed-rate long-term contracts with an average remaining term of 10 years and a weighted average age of just over four years.

The delivered newbuilding is on a fixed rate 17-year time charter to CMA CGM, the world's third largest container shipping company. The purchase was funded by drawings under the company's US$800 million credit facility, said a company statement.

With the CMA CGM Thalassa secured on a favourable 17-year fixed rate time charter, we have further increased our contracted revenue stream, which now stands at US$1.65 billion, said Global Ship Lease CEO Ian Webber. The successful execution of our time charter strategy has ensured that all of Global Ship Lease vessels are secured on contracts with an average duration of 10 years.

Global Ship Lease, incorporated in the Marshall Islands, commenced operations in December 2007 in the business of owning and chartering containerships under long-term, fixed rate charters to world class container liner companies. Two of Global Ship's vessels are on charter to Zim, with the remainder to CMA CGM.

Source: Schednet