Ships & Contract Cover

The mix of ship sizes within our fleet provides flexibility to deploy our vessels on a wide range of trading routes.

Global Ship Lease owns 49 containerships, ranging from 2,207 to 11,040 TEU. We have contracted to purchase one more ship of 6,008 TEU, a further 12 ships with an average TEU capacity of approximately 3,000 TEU, and an additional four ships of 5,470 TEU. The fully delivered fleet will have a capacity of 344,650 TEU; 32 of the ships are Post-Panamax, of which nine are fuel-efficient, new-design, wide-beam.

Fleet and charter data last updated June 16, 2021.

= Firm Employment = Option Period
Vessel Name
Size (TEU)
Charterer
Rate
Contract Cover
11,040
CMA CGM
$47,200

Built: 2008

Yard: Daewoo

TEU - Nominal: 11,040

TEU - 14 mt: 7,990

Reefers: 700 

LWT: 38,577

Flag: Malta

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 4Q07

Earliest Expiry: 4Q25

Latest Expiry: 1Q26

Additional Information

Bulbous bow optimized for fuel efficiency at low operating speeds. Ship has sufficient onboard power to support significant up-sizing of reefer capacity

Image of   CMA CGM Thalassa
9,115
Hapag-Lloyd
$34,000

Built: 2015

Yard: Hanjin

TEU - Nominal: 9,115

TEU - 14 mt: 7,578

Reefers: 1500

LWT: 31,764

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 1Q19

Earliest Expiry: 1Q22

Latest Expiry: 2Q22

Additional Information

Ship has sufficient onboard power to support significant up-sizing of reefer capacity

Image of   UASC Al Khor
9,115
COSCO
$38,000

Built: 2015

Yard: Hanjin

TEU - Nominal: 9,115

TEU - 14 mt: 7,578

Reefers: 1,500

LWT: 31,890

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 4Q20

Earliest Expiry: 3Q23

Latest Expiry: 4Q23

Additional Information

Ship has sufficient onboard power to support significant upsizing of reefer capacity.

Image of   Anthea Y
9,115
ONE
$38,000

Built: 2015

Yard: Hanjin

TEU - Nominal: 9,115

TEU - 14 mt: 7,578

Reefers: 1,500

LWT: 31,820

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 3Q20

Earliest Expiry: 2Q22

Latest Expiry: 3Q22

Additional Information

Ship has sufficient onboard power to support significant upsizing of reefer capacity. Charter rate of $24,990 per day to 1Q21; thereafter $31,650 per day.

Image of   Maira XL
8603
MSC

Built: 2005

Yard: Samsung

TEU - Nominal: 8603

TEU - 14 mt: 6590

Reefers: 710

LWT: 34,325

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 2Q19

Earliest Expiry: 2Q24

Latest Expiry: 3Q24

Additional Information

Charter rate of $23,000 per day through 1Q2021. Thereafter $19,000 per day, due to cancellation of scrubber installation. Ship has sufficient onboard power to support significant up-sizing of reefer capacity.

Image of   MSC Tianjin
8,603
MSC
$23,000

Built: 2004

Yard: Samsung

TEU - Nominal: 8,603

TEU - 14 mt: 6,590

Reefers: 710

LWT: 34,305

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 2Q19

Earliest Expiry: 2Q24

Latest Expiry: 3Q24

Additional Information

Ship has sufficient onboard power to support significant up-sizing of reefer capacity.

Image of   MSC Qingdao
8,603
MSC
$22,500

Built: 2004

Yard: Samsung

TEU - Nominal: 8,603

TEU - 14 mt: 6,590

Reefers: 710

LWT: 34,340

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 4Q20

Earliest Expiry: 1Q23

Latest Expiry: 3Q23

Additional Information

Charter with Maersk at $18,000 per day until early November 2020. Thereafter a 28 – 32 months charter with MSC at $22,500 per day.

Image of   GSL Ningbo
7,847
Maersk
$16,500

Built: 2004

Yard: Hyundai

TEU - Nominal: 7,849

TEU - 14 mt: 6,038

Reefers: 814

LWT: 29,261

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 2Q19

Earliest Expiry: 3Q24

Latest Expiry: 4Q24

Additional Information

Approximately $14.1 million of Adjusted EBITDA is expected to be generated for the median period remaining on the charter from June 30, 2020

Image of   GSL Eleni
7,847
Maersk
$14,500

Built: 2004

Yard: Hyundai

TEU - Nominal: 7,849

TEU - 14 mt: 6,038

Reefers: 814

LWT: 29,105

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 3Q19

Earliest Expiry: 4Q22

Latest Expiry: 4Q24

Additional Information

Charter rate for the firm period is $14,500 per day. Charter rate for option period is $18,900 per day.

Image of   GSL Kalliopi
7,847
Maersk
$14,500

Built: 2004

Yard: Hyundai

TEU - Nominal: 7,849

TEU - 14 mt: 6,038

Reefers: 814

LWT: 29,190

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 3Q19

Earliest Expiry: 4Q22

Latest Expiry: 4Q24

Additional Information

Charter rate for the firm period is $14,500 per day. Charter rate for option period is $17,750 per day.

Image of   GSL Grania
6,927
CMA CGM
$25,910

Built: 2013

Yard: Hyundai

TEU - Nominal: 6,927

TEU - 14 mt: 5,120

Reefers: 1,200

LWT: 23,424

Flag: MI

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 4Q18

Earliest Expiry: 3Q23

Latest Expiry: 4Q23

 

Additional Information

Ship has sufficient onboard power to support significant up-sizing of reefer capacity

Image of   Mary
6,927
CMA CGM
$25,910

Built: 2013

Yard: Hyundai

TEU - Nominal: 6,927

TEU - 14 mt: 5,120

Reefers: 1,600

LWT: 23,421

Flag: MI

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 4Q18

Earliest Expiry: 2Q24

Latest Expiry: 3Q24

Additional Information

Image of   Kristina
6,927
CMA CGM
$25,910

Built: 2013

Yard: Hyundai

TEU - Nominal: 6,927

TEU - 14 mt: 5,120

Reefers: 1,600

LWT: 23,403

Flag: MI

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 4Q18

Earliest Expiry: 1Q24

Latest Expiry: 2Q24

Additional Information

Image of   Katherine
6,927
CMA CGM
$25,910

Built: 2013

Yard: Hyundai

TEU - Nominal: 6,927

TEU - 14 mt: 5,120

Reefers: 1,600

LWT: 23,348

Flag: MI

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 4Q18

Earliest Expiry: 1Q24

Latest Expiry: 2Q24

Additional Information

Image of   Alexandra
6,882
CMA CGM
$25,910

Built: 2015

Yard: Hanjin

TEU - Nominal: 6,882

TEU - 14 mt: 5,105

Reefers: 1,600

LWT: 23,919

Flag: MI

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 4Q18

Earliest Expiry: 1Q24

Latest Expiry: 2Q24

Additional Information

Image of   Alexis
6,882
CMA CGM
$25,910

Built: 2015

Yard: Hanjin

TEU - Nominal: 6,882

TEU - 14 mt: 5,105

Reefers: 1,600

LWT: 23,864

Flag: MI

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 4Q18

Earliest Expiry: 1Q24

Latest Expiry: 2Q24

Additional Information

Image of   Olivia I
6,840
Maersk

Built: 2002

Yard: Samsung

TEU - Nominal: 6,840

TEU - 14 mt: 4,990

Reefers: 600

LWT: 27,954

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 3Q20

Earliest Expiry: 3Q23

Latest Expiry: 4Q23

Additional Information

Escalating charter rate, with average rate (assuming median charter term) of $12,830 per day through May 2021. On expiry of the existing charter GSL Christen will be chartered to Maersk at a rate of $35,000 per day.

Image of   GSL Christen
6,840
MSC

Built: 2002

Yard: Samsung

TEU - Nominal: 6,840

TEU - 14 mt: 4,990

Reefers: 600

LWT: 28,070

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 3Q20

Earliest Expiry: 3Q24

Latest Expiry: 4Q24

Additional Information

Chartered to MSC at $13,500 per day to 2Q/3Q2021. On expiry of the existing charter GSL Nicoletta will be chartered to Maersk at a rate of $35,750 per day.

Image of   GSL Nicoletta
6,621
CMA CGM

Built: 2001

Yard: Hanjin

TEU - Nominal: 6,621

TEU - 14 mt: 4,555

Reefers: 500

LWT: 26,776

Flag: Bahamas

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 3Q09

Earliest Expiry: 4Q25

Latest Expiry: 1Q26

Additional Information

Chartered to CMA CGM at a rate of $34,000 per day through 4Q2021; thereafter, extended at a rate of $37,750 per day
Image of   CMA CGM Berlioz
6,572
MSC
$20,000

Built: 2011

Yard: Hanjin

TEU - Nominal: 6,572

TEU - 14 mt: 5,002

Reefers: 500

LWT: 24,746

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 2Q19

Earliest Expiry: 4Q23

Latest Expiry: 1Q24

Image of   Agios Dimitrios
6,080
Maersk
$13,250

Built: 2004

Yard: Samsung

TEU - Nominal: 6,080

TEU - 14 mt: 4,527

Reefers: 500

LWT: 23,737

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 4Q19

Earliest Expiry: 2Q24

Latest Expiry: 1Q25

Image of   GSL Vinia
6,080
Maersk
$13,250

Built: 2004

Yard: Samsung

TEU - Nominal: 6,080

TEU - 14 mt: 4,527

Reefers: 500

LWT: 23,745

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 4Q19

Earliest Expiry: 2Q24

Latest Expiry: 1Q25

Image of   GSL Christel Elisabeth
6,008
ONE/Maersk

Built: 2001

Yard: Samsung

TEU - Nominal: 6,008

TEU - 14 mt: 4,138

Reefers: 650

LWT: 24,414

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 2Q21

Earliest Expiry: 3Q24

Latest Expiry: 2Q27

Additional Information

The ship was delivered late-April 2021. Initial short charter to ONE, until 3Q/4Q21; thereafter a charter to Maersk to 3Q/4Q24, with options for the charterer to subsequently extend the charter up until the ship’s next scheduled special survey & drydocking. During the initial firm charter period (pre-options) the ship is contracted at a rate expected to generate annualized EBITDA of approximately $4.1 million.

Image of   GSL Maria
6,008
WHL/Maersk

Built: 2000

Yard: Samsung

TEU - Nominal: 6,008

TEU - 14 mt: 4,193

Reefers: 800

LWT: 24,873

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 2Q21

Earliest Expiry: 4Q24

Latest Expiry: 4Q25

Additional Information

The ship was delivered late-April 2021. Initial short charter to Wan Hai, until 3Q/4Q21; thereafter a charter to Maersk to 3Q/4Q24, with options for the charterer to subsequently extend the charter up until the ship’s next scheduled special survey & drydocking. During the initial firm charter period (pre-options) the ship is contracted at a rate expected to generate annualized EBITDA of approximately $4.1 million.

Image of   GSL Violetta
6,008
Maersk

Built: 2000

Yard: Samsung

TEU - Nominal: 6,008

TEU - 14 mt: 4,194

Reefers: 800

LWT: 24,859

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 2Q21

Earliest Expiry: 2Q24

Latest Expiry: 1Q26

Additional Information

The ship was delivered late-April 2021. Chartered to Maersk to 2Q/3Q24, with options for the charterer to subsequently extend the charter up until the ship’s next scheduled special survey & drydocking. During the initial firm charter period (pre-options) the ship is contracted at a rate expected to generate annualized EBITDA of approximately $4.1 million.

Image of   GSL Arcadia
5,992
Maersk

Built: 2001

Yard: Samsung

TEU - Nominal: 5,992

TEU - 14 mt: 4,221

Reefers: 668

LWT: 24,243

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 2Q21

Earliest Expiry: 2Q24

Latest Expiry: 3Q26

Additional Information

The ship was delivered late-April 2021. Chartered to Maersk to 2Q/3Q24, with options for the charterer to subsequently extend the charter up until the ship’s next scheduled special survey & drydocking. During the initial firm charter period (pre-options) the ship is contracted at a rate expected to generate annualized EBITDA of approximately $4.1 million.

Image of   GSL Dorothea
6,008
Maersk

Built: 2001

Yard: Samsung

TEU - Nominal: 6,008

TEU - 14 mt: 4,194

Reefers: 632

LWT: 24,848

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 2Q21

Earliest Expiry: 2Q24

Latest Expiry: 4Q26

Additional Information

The ship was delivered mid-May 2021. Chartered to Maersk to 2Q/3Q24, with options for the charterer to subsequently extend the charter up until the ship’s next scheduled special survey & drydocking. During the initial firm charter period (pre-options) the ship is contracted at a rate expected to generate annualized EBITDA of approximately $4.1 million.

Image of   GSL Melita
5,992
Maersk

Built: 2001

Yard: Samsung

TEU - Nominal: 5,992

TEU - 14 mt: 4,185

Reefers: 500

LWT: 24,308

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 2Q21

Earliest Expiry: 2Q24

Latest Expiry: 4Q26

Additional Information

The ship was delivered mid-May 2021. Chartered to Maersk to 2Q/3Q24, with options for the charterer to subsequently extend the charter up until the ship’s next scheduled special survey & drydocking. During the initial firm charter period (pre-options) the ship is contracted at a rate expected to generate annualized EBITDA of approximately $4.1 million.

Image of   GSL Tegea
6,008
Maersk

Built: 2000

Yard: Samsung

TEU - Nominal: 6,008

TEU - 14 mt: 4,193

Reefers: 632

LWT: 24,876

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 3Q21

Earliest Expiry: 3Q24

Latest Expiry: 3Q25

Additional Information

The ship is scheduled to deliver in 3Q21. Chartered to Maersk to 3Q/4Q24, with options for the charterer to subsequently extend the charter up until the ship’s next scheduled special survey & drydocking. During the initial firm charter period (pre-options) the ship is contracted at a rate expected to generate annualized EBITDA of approximately $4.1 million.

Image of   GSL MYNY
5,936
Maersk
$12,500

Built: 2000

Yard: Kvaerner

TEU - Nominal: 5,936

TEU - 14 mt: 4,312

Reefers: 500

LWT: 25,010

Flag: MI

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 2Q19

Earliest Expiry: 1Q22

Latest Expiry: 3Q23

Rate Details

Charter rate of $12,500 per day to 2Q22, followed by 12 months at option of charterer at $20,000 per day. Hull optimized for fuel efficiency at lower operating speeds.

Image of   Tasman
5,936
ZIM

Built: 2000

Yard: Kvaerner

TEU - Nominal: 5,936

TEU - 14 mt: 4,312

Reefers: 500

LWT: 25,010

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 2Q19

Earliest Expiry: 1Q24

Latest Expiry: 2Q24

Additional Information

Hull optimized for fuel efficiency at lower operating speeds. Chartered at a rate of $14,500 per day to May 2022; thereafter at a rate of $24,250 per day.

Image of   ZIM Europe
5,936
ZIM

Built: 2000

Yard: Kvaerner

TEU - Nominal: 5,936

TEU - 14 mt: 4,312

Reefers: 500

LWT: 25,128

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 2Q19

Earliest Expiry: 2Q24

Latest Expiry: 3Q24

Additional Information

Hull optimized for fuel efficiency at lower operating speeds. Chartered at a rate of $14,500 per day to May 2021; thereafter $32,500 per day.

Image of   Ian H
5,095
Sea-Lead

Built: 2007

Yard: Hyundai

TEU - Nominal: 5,095

TEU - 14 mt: 3,434

Reefers: 330

LWT: 20,596

Flag: Panama

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 3Q20

Earliest Expiry: 1Q22

Latest Expiry: 2Q22

Additional Information

Charter with Sea-Lead at rate of $7,000 per day through December 2020. Thereafter, new charter with OOCL to 1Q22 (assuming median delivery) at a new rate of $24,500 per day

Image of   Dolphin II
5,095
Maersk

Built: 2006

Yard: Hyundai

TEU - Nominal: 5,095

TEU - 14 mt: 3,434

Reefers: 330

LWT: 20,633

Flag: Panama

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 2Q19

Earliest Expiry: 2Q24

Latest Expiry: 3Q25

Additional Information

Chartered to Maersk at a rate of $10,000 per day through April 2021. On expiry of the existing charter Orca I will be chartered to Maersk at a rate of $21,000 per day until 2Q24 (assuming median expiry). Thereafter the charterer has the option to extend the charter by a further 12 – 14 months.

Image of   Orca I
5,089
CMA CGM
$16,000

Built: 2007

Yard: Hanjin

TEU - Nominal: 5,089

TEU - 14 mt: 3,350

Reefers: 386

LWT: 20,087

Flag: Panama

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 4Q20

Earliest Expiry: 3Q21

Latest Expiry: 4Q21

Additional Information

Original sale & leaseback charter (from 2008) with CMA CGM to October 2020 at a rate of $33,750 per day; thereafter a charter extension in direct continuation at a rate of $16,000 per day.

Image of   CMA CGM Alcazar
5,089
Hapag-Lloyd
$14,500

Built: 2007

Yard: Hanjin

TEU - Nominal: 5,089

TEU - 14 mt: 3,350

Reefers: 386

LWT: 19,994

Flag: Malta

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 4Q20

Earliest Expiry: 4Q21

Latest Expiry: 4Q21

Additional Information

Original sale & leaseback charter (from 2008) with CMA CGM to October 2020 at a rate of $33,750 per day; thereafter a new charter to Hapag-Lloyd at a rate of $14,500 per day.

Image of   GSL Chateau d’If
4,298
CMA CGM
$25,350

Built: 2006

Yard: Hyundai

TEU - Nominal: 4,298

TEU - 14 mt: 2,810

Reefers: 600

LWT: 17,272

Flag: Cyprus

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 1Q08

Earliest Expiry: 3Q22

Latest Expiry: 1Q23

Additional Information

Image of   CMA CGM Jamaica
4,045
CMA CGM
$25,350

Built: 2006

Yard: CSBC

TEU - Nominal: 4,045

TEU - 14 mt: 2,881

Reefers: 700

LWT: 17,429

Flag: Malta

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 2Q08

Earliest Expiry: 3Q22

Latest Expiry: 1Q23

Additional Information

Image of   CMA CGM Sambhar
4,045
CMA CGM
$25,350

Built: 2006

Yard: CSBC

TEU - Nominal: 4,045

TEU - 14 mt: 2,881

Reefers: 700

LWT: 17,428

Flag: Malta

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 2Q08

Earliest Expiry: 3Q22

Latest Expiry: 1Q23

Additional Information

Image of   CMA CGM America
2,824
ZIM
$13,250

Built: 2005

Yard: Hyundai

TEU - Nominal: 2,824

TEU - 14 mt: 2,029

Reefers: 566

LWT: 11,971

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 4Q20

Earliest Expiry: 3Q21

Latest Expiry: 1Q22

 
Image of   GSL Valerie
2,762
MSC

Built: 2003

Yard: Koyo

TEU - Nominal: 2,762

TEU - 14 mt: 2,330

Reefers: 300

LWT: 13,538

Flag: Panama

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 1Q19

Earliest Expiry: 2Q24

Latest Expiry: 2Q24

Additional Information

Chartered to MSC at a rate of $9,000 per day through April 2021; On expiry of the existing charter Athena will be chartered to Hapag-Lloyd at a rate of $21,500 per day.

Image of   Athena
2,506
Hapag-Lloyd
$14,500

Built: 2000

Yard: Samsung

TEU - Nominal: 2,506

TEU - 14 mt: 1,805

Reefers: 420

LWT: 11,453

Flag: Panama

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 1Q19

Earliest Expiry: 1Q23

Latest Expiry: 2Q23

 
Image of   Maira
2,506
CMA CGM
$16,000

Built: 2000

Yard: Samsung

TEU - Nominal: 2,506

TEU - 14 mt: 1,805

Reefers: 420

LWT: 11,370

Flag: Panama

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 3Q19

Earliest Expiry: 1Q23

Latest Expiry: 2Q23

 
Image of   Nikolas
2,506
MSC

Built: 2001

Yard: Samsung

TEU - Nominal: 2,506

TEU - 14 mt: 1,805

Reefers: 420

LWT: 11,463

Flag: Panama

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 1Q19

Earliest Expiry: 1Q24

Latest Expiry: 2Q24

Additional Information

Chartered to MSC at a rate of $8,000 per day through 1Q2021; thereafter, on completion of drydocking in May 2021, Newyorker will be chartered to CMA CGM extended at a rate of $20,700 per day

Image of   Newyorker
2,272
MSC
$7,250

Built: 2001

Yard: CSBC

TEU - Nominal: 2,272

TEU - 14 mt: 1,735

Reefers: 446

LWT: 11,742

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 4Q19

Earliest Expiry: 2Q21

Latest Expiry: 2Q21

Additional Information

Charter extended in direct continuation. Previous rate of $8,800 applicable until October 30, 2020, after which rate becomes $7,250 per day

Image of   La Tour
2,272
Sea-Lead
$12,850

Built: 2001

Yard: CSBC

TEU - Nominal: 2,272

TEU - 14 mt: 1,735

Reefers: 446

LWT: 11,727

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 4Q20

Earliest Expiry: 4Q20

Latest Expiry: 4Q21

 
Image of   Manet
2,207
OOCL
$9,400

Built: 2003

Yard: CSBC

TEU - Nominal: 2,207

TEU - 14 mt: 1,718

Reefers: 350

LWT: 11,731

Flag: Bahamas

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 4Q19

Earliest Expiry: 3Q21

Latest Expiry: 3Q21

Additional Information

Charter extended in direct continuation. Previous rate of $8,000 to applicable until October 10, 2020, after which rate increases to $9,400 per day.

Image of   Keta
2,207
Sea Consortium

Built: 2002

Yard: CSBC

TEU - Nominal: 2,207

TEU - 14 mt: 1,718

Reefers: 350

LWT: 11,731

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 3Q20

Earliest Expiry: 4Q21

Latest Expiry: 4Q21

Additional Information

Charter extended with Sea Consortium from 1Q2021 on at a confidential rate and for a confidential term.

Image of   Julie
2,207
CMA CGM
$9,300

Built: 2002

Yard: CSBC

TEU - Nominal: 2,207

TEU - 14 mt: 1,718

Reefers: 350

LWT: 11,791

Flag: Bahamas

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 3Q16

Earliest Expiry: 3Q21

Latest Expiry: 4Q21

Additional Information

Charter extended in direct continuation. Previous rate of $9,800 applicable until October 15, 2020, after which rate becomes $9,300 per day.
Image of   Kumasi
2,207
CMA CGM
$9,300

Built: 2002

Yard: CSBC

TEU - Nominal: 2,207

TEU - 14 mt: 1,718

Reefers: 350

LWT: 11,731

Flag: Liberia

Post-Panamax

Geared

Wide Beam (New Design)

Eco

Scrubber-Fitted

Charter Start: 3Q16

Earliest Expiry: 3Q21

Latest Expiry: 4Q21

Additional Information

Charter extended in direct continuation. Previous rate of $9,800 applicable until October 25, 2020, after which rate becomes $9,300 per day.

Image of   Marie Delmas

Ships Contracted for Purchase

Acquisitions Announced June 8, 2021

As announced on June 8, 2021, we have agreed to purchase 12 containerships with an average size of approximately 3,000 TEU and a weighted average age of 11 years for an aggregate purchase price of $233.9 million. The ships are scheduled for delivery during 3Q2021 and are all on charter, with remaining charter durations of three to 25 months:

  • 4,363 TEU: chartered at $22,000 per day to 4Q2022
  • 3,421 TEU (Geared): chartered at $20,000 per day to 1Q2022
  • 3,421 TEU (Geared): chartered at $21,500 per day to 1Q2023
  • 3,404 TEU (Geared): chartered at $24,500 per day to 2Q2023
  • 3,404 TEU (Geared): chartered at $12,000 per day to 3Q2021
  • 2,824 TEU: chartered at $11,700 per day to 3Q2021
  • 2,824 TEU: chartered at $20,250 per day to 2Q2022
  • 2,824 TEU: chartered at $18,500 per day to 1Q2023
  • 2,741 TEU: chartered at $18,500 per day to 1Q2023
  • 2,546 TEU (Geared): chartered at $15,000 per day to 4Q2021
  • 2,546 TEU (Geared): chartered at $19,250 per day to 1Q2023
  • 1,118 TEU (Geared): chartered at $11,900 per day to 3Q2023

Based on the existing charters and assuming renewals at current market rates for the four charters that come open prior to mid-2022, the newly acquired ships are expected to contribute approximately $60.5 million of Adjusted EBITDA in the first 12 months. This represents an increase of approximately 36% on Adjusted EBITDA for the 12 months ended March 31, 2021 and implies a strongly accretive Purchase Price / Annual Adjusted EBITDA multiple of approximately 3.9 times.


Acquisitions Announced June 16, 2021

As announced on June 16, 2021, we have agreed to purchase four 5,470 TEU Panamax containerships with an average age of approximately 11 years for an aggregate purchase price of $148 million. The ships are scheduled to be delivered during 3Q2021, and are contracted to be chartered to a leading liner operator for a firm period of three years each, with a charterer’s option for a period of an additional three years. During the three-year firm period, the vessels are expected to generate aggregate Adjusted EBITDA of approximately $124.4 million, implying a strongly accretive average Purchase Price / Annual Adjusted EBITDA multiple of approximately 3.6x. If the options are exercised, the vessels are expected to generate approximately $42.2 million of additional Adjusted EBITDA.


 

Footnotes

Geared ships are equipped with onboard cranes, allowing them to load and discharge in ports where shoreside infrastructure is limited.

Wide beam improves vessel stability and reduces the need for ballast water, resulting in lower fuel consumption and higher cargo carrying capacity.

At standard operating speeds, fully laden eco-vessels consume 20 - 30 mt per day less fuel than non-eco tonnage, reducing daily running costs for charterers.

High reefer count allows charterers to carry high-margin refrigerated cargo.

Ships fitted with “scrubbers” (Exhaust Gas Cleaning Systems) are permitted to burn fuel with a higher Sulphur content, while still complying with IMO 2020 emission regulations