Global Ship Lease (GSL) has hit a tempo with its chartering activity, having announced fixtures for the third consecutive Monday.
The New York-listed owner today said it has agreed to five-year charters with MSC for 8,667-teu GSL Tianjin (built 2005) and OOCL Qingdao (built 2004).
They will both be renamed MSC Tianjin and MSC Qingdao, respectively.
The new charters, are expected to make about $25.6m each in adjusted operating profit for the median firm period.
They are set to begin in the late second quarter or early third quarter, once they return from their current charterers.
“Our ability to add more than $90m of contracted Ebitda to our backlog from new charters announced year-to-date and in rapid succession demonstrates the significant value of our commercial platform and the depth and breadth of our relationships across the industry," chief executive Ian Webber said.
"These long-term cashflows provide us with excellent forward visibility and further enhance our ability to optimize our capital structure and pursue a lower cost of debt.”
On a roll
GSL on April 30 extended deals for 5,936-teu Dimitris Y and Ian H (both built 2000) for between 21 and 24 months Israel's Zim, starting in June.
The new terms will add $4.4m of adjusted Ebitda per ship for the median firm period.
A week earlier, GSL signed a 30-month charter with Maersk Line for 5,936-teu Tasman (built 2000) that may go as far as 38 months.
The charter is expected to begin in July 2019 after the current charter expires and includes a 12-month extension at Maersk’s option.
It is expected to earn about $5.3m of adjusted Ebitda for the median firm period of 34 months and another $4.4m if the one-year extension option is exercised.
