Global Ship Lease is in a position to earn millions of dollars off one of the oldest ships in its fleet.
The New York-listed boxship specialist has 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 generate approximately $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.
"This multi-year employment adds to our substantial contracted revenue stream while also demonstrating the clear long-term demand for our high-specification post-panamax containerships," chief executive Ian Webber said.
Global Ship Lease owns 38 boxships ranging in size from 2,207 teu to 11,040 teu.
