Charters

The average remaining term of the charters at March 31, 2019, including subsequent announcements, was 3.1 years on a TEU-weighted basis.

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1In instances where a day rate represents commercially sensitive information, an implied Adjusted EBITDA for the charter will be provided until such time as the day rate is disclosable.

2Thereafter, three years at implied Adjusted EBITDA of $28.0 million for the period.

3Thereafter, five years to MSC at implied adjusted EBITDA of $25.6 million per vessel for the period.

4Rate increases to $18,000 per day from September 21, 2019; latest expiry assumes 12-month option exercised by charterer.

5Thereafter, five years to CMA CGM at $25,910 per day.

6Option for four years at $20,000 per day, callable by GSL in 4Q19.

7Thereafter, 30-38 months to Maersk Line at implied Adjusted EBITDA of $5.3 million for the median period. Additional 12-month extension at charterer's option, for an additional $4.4 million implied Adjusted EBITDA.

8Thereafter 21-24 months to Zim at implied Adjusted EBITDA of $4.4 million per vessel for the period.

9Rate increases to $11,500 per day from 14-August-19.

10Current charter commenced June 2019. Rate increases to $10,000 per day from June 3, 2020.

11Current charter commenced June 2019.

12$7,200 per day to between August 16, 2019 and October 16, 2019, at charterer’s option, with an option in favour of charterer to extend from October 16, 2019 at $8,500 per day for six months plus or minus 30 days.

13Option at $9,800 per day to 31-December-20 +/- 90 days, callable by GSL.

* GSL Eleni delivered 2Q19; GSL Kalliopi and GSL Grania scheduled to deliver 3Q19. GSL Eleni chartered for 5 years; GSL Kalliopi and GSL Grania chartered for 3 years plus 2 x 1 year at option of charterer. Implied Aggregate Adjusted EBITDA of $32 million for firm periods, increasing to $47 million if all options are exercised.
GSL © 2019