Ian Webber News

23 Apr 2019

GSL Inks Long Term Charter with Maersk

Pic: Maersk Line

UK-based containership charter owner Global Ship Lease (GSL) has agreed a minimum 30-month / maximum 38-month charter with Maersk Line for the 2000-built, 5,936 TEU containership Tasman.The new charter is expected to commence in July 2019 on the completion of the current charter and is subject to a further 12-month extension at the charterer’s option.The charter is expected to generate approximately $5.3 million of Adjusted EBITDA for the median firm period and an additional $4.4 million if the 12-month extension option is exercised.George Youroukos…

18 Mar 2019

GSL Extends Hapag-Lloyd Charter

Pic: Global Ship Lease

Marshall Islands-incorporated  containership charter owner Global Ship Lease (GSL) has agreed a three-year charter with Hapag-Lloyd for the 2015-built, 9,115 TEU containership UASC Al Khor.The new charter is in direct continuation of the current charter and is expected to commence in June, 2019, with re-delivery in the second quarter 2022, said the owner of containerships with a diversified fleet of mid-sized and smaller containerships.The charter is expected to generate approximately $28 million of Adjusted EBITDA.Ian Webber…

11 Dec 2018

Global Ship Lease Sings TC with CMA CGM

Image: CMA CGM

UK-based containership lessor Global Ship Lease (GSL) has agreed five-year charters with CMA CGM for the 2015-built, 6,882 TEU containerships UASC Bubiyan and UASC Yas.The containership charter owner said in a release that the new charters, which are in addition to the four similar charters announced on November 9, 2018, will commence upon the expiry of the current charters during the second quarter of 2019, are for a period of five years and are at a rate of $25,910 per day, up from $20…

15 Nov 2018

Global Ship Lease Closes Poseidon Containers Deal

File Image: Global Ship Lease

Marshall Islands-based Global Ship Lease (GSL) announced that it has completed the proposed merger deal with Greece's Poseidon Containers.According to a release from GSL, the combined company will have a fleet of 38 vessels with a total capacity of 198,793 TEU, and, as of September 30, 2018, an average fleet age weighted by TEU of 10.7 years, and with the recently announced new charters, contracted revenue of approximately $720 million. "The closing of the merger creates a market leader with an asset base of more than $1.3 billion…

13 Nov 2018

Global Ship Lease Bags New TC with CMA CGM

Pic: CMA CGM

Containership lessor Global Ship Lease, announced a new time charter with ANL, a wholly owned subsidiary of CMA CGM, for the 2003-built, 2,207 TEU containership GSL Keta (formerly Delmas Keta).The containership charter owner informed that the new charter, commencing on or around November 20, 2018, is for a period of between seven and 10 months (at charterer’s option) at a rate of $8,450 per day, up from $7,800 per day under the preceding charter.The company incorporated in the Marshall Islands has also exercised options to extend the existing charters of the 2002-built…

09 Nov 2018

Poseidon Containers Inks TC with CMA CGM

Pic: CMA CGM

The containership charter owner Global Ship Lease (GSL) announced that Poseidon Containers, with which it has entered a definitive merger agreement, has agreed five-year time charters with CMA CGM for four of its 6,927 TEU containerships, Mary, Kristina, Katherine and Alexandra.The charters will deliver incremental annualized EBITDA of approximately $11.0 million compared to third quarter 2018 contracted rates. The new charter for Mary commenced recently, and the remaining three new charters will commence upon expiry of their existing charters during the first half of 2019.

20 Sep 2018

Global Ship Lease Bags New Time Charter with Maersk Line

File Image: Global Ship Lease

Global Ship Lease announced a new time charter with Maersk Line for the 2004-built, 8,063 TEU containership OOCL Ningbo, which has been renamed GSL Ningbo, following her redelivery by OOCL on September 17, 2018.The containership charter owner said in a press release that the vessel will be chartered, commencing on or around September 21, 2018, for a period of between two and 12 months, with a subsequent option for an additional 12-month extension (at charterer’s option).During the first three months…

18 Jun 2018

Global Ship Lease Adds 2,800 TEU Containership

Image: Global Ship Lease

Global Ship Lease, a containership charter owner, announced that the Company has taken delivery of a 2005-built, 2,800 TEU containership, now named GSL Valerie. Shortly after delivery, and as agreed at the time the Company contracted to purchase the vessel, GSL Valerie will commence charter employment with CMA CGM for a period of 12 months at a fixed rate of $9,000 per day. The Company’s fleet now comprises 19 vessels with a total capacity of 85,112 TEU. Ian Webber, Chief Executive Officer of Global Ship Lease…

05 Mar 2018

Global Ship Lease Reports 4Q Loss

Photo: CMA CGM

UK-based containership owner  Global Ship Lease (GSL) reported a loss of $99.1 million in its fourth quarter. It posted revenue of $37.9 million in the period. For the year, the company reported that its loss widened to $74.3 million, or $1.61 per share. Revenue was reported as $159 million. Ian Webber, Chief Executive Officer of Global Ship Lease, stated, “In 2017, we continued to benefit from our attractive long-term charters and strong relationships with top-tier liner companies.

01 Mar 2018

Global Ship Lease Acquires 2,800 TEU Containership

CMA CGM Matisse, a GSL ship. Photo by CMA CGM

UK-based containership charter owner Global Ship Lease announced that it has agreed to acquire a 2005-built, 2,800 TEU containership for a purchase price of USD 11.3 million. Following delivery, which is expected to be during the second quarter of 2018 once the existing charter terminates, the vessel will be renamed and will commence charter employment with CMA CGM for a period of 12 months at a fixed rate of $9,000 per day. With this addition, the Company’s fleet will comprise 19 vessels with a total capacity of 85,112 TEU.

20 Feb 2018

Global Ship Lease Extends Charter with OOCL

OOCL Qingdao. Photo: OOCL

Global Ship Lease, a containership charter owner, today announced that it has agreed to an extension of its charter with OOCL for the OOCL Qingdao, a 2004-built, 8,063 TEU containership. The extension commences in direct continuation of the current charter with effect from March 11, 2018, at a fixed rate of $14,000 per day. Earliest redelivery is now January 1, 2019, with latest redelivery March 15, 2019 (at charterer's option). Global Ship Lease is a containership charter owner.

18 Jan 2018

Global Ship Lease Eyes Acquisitions

Photo: Global Ship Lease

The London-based Global Ship Lease (GSL) said that it  is well-positioned as one of few publicly listed containership leasing companies to acquire attractive portfolios of ships, attract growth capital or find a complementary merger partner. The containership charter owner has engaged Evercore to act as financial advisor to assist in reviewing strategic alternatives focused on maximizing shareholder value. GSL has successfully refinanced of all of the its indebtedness in October 2017 and with a strengthening market backdrop.

16 Jan 2018

Global Ship Lease Extends TC with CMA CGM

Photo: CMA CGM

Global Ship Lease, a containership charter owner, announced that it has agreed to an extension of its charter with CMA CGM for the GSL Tianjin, a 2005-built, 8,063 TEU containership. The vessel will be chartered for a period of eight to twelve months (at the charterer's option) at a fixed rate of $11,900 per day, commencing in direct continuation from its current charter on January 26, 2018. Ian Webber, Chief Executive Officer of Global Ship Lease, commented, "We are pleased to have secured this extension with CMA CGM for the continued employment of the GSL Tianjin.

19 Oct 2017

Global Ship Lease New Time Charter with CMA CGM

Photo: CMA CGM

Global Ship Lease (GSL), a containership charter owner, announced that it has agreed to a new time charter with CMA CGM for an 8,063 TEU containership, the 2005-built OOCL Tianjin, which will be renamed GSL Tianjin. The vessel will be chartered for a period of three to eight months (at the charterer's option) at a fixed rate of $13,000 per day, commencing immediately upon re-delivery from its current charter on or around October 25, 2017. Ian Webber, Chief Executive Officer of Global Ship Lease…

11 Sep 2017

GSL Extends TC with CMA CGM

Photo:  CMA CGM

Global Ship Lease, Inc., a containership charter owner,  has announced that it has signed time charter extensions with CMA CGM for two 2,207 TEU containerships, the 2002-built Julie Delmas and the 2003-built Delmas Keta. The vessels will be chartered for a period of 12 months (plus or minus 45 days at charterer’s option) at a fixed rate of $7,800 per vessel per day, commencing immediately upon expiration of the current time charters on September 11 and 20, 2017, respectively.

31 Jul 2017

Global Ship Lease Reports Q2 Profit

Logo: Global Ship Lease

The London-based Global Ship Lease (GSL) on Monday reported second-quarter profit of $7.6 million. The containership owner posted revenue of $40.3 million in the period. Ian Webber, Chief Executive Officer of Global Ship Lease, stated, "During the second quarter of 2017, we remained focused on generating strong cashflows from stable, fixed-rate contracts with industry-leading counterparties. "We remain encouraged by the upward movement of the spot charter market throughout 2017 and believe that this should benefit those of our vessels due to become open later this year and early next…

03 May 2017

Global Ship Lease Report Q1 Financials

Image: Global Ship Lease

The containership charter owner Global Ship Lease (GSL) has reported first-quarter net income of $6.8 million. Its revenue stood at $39.6 mln for the Quarter. Ian Webber, Chief Executive Officer of Global Ship Lease, stated, "During the first quarter of 2017, we continued to execute our core strategy, maximizing the value of our long-term time charters with high-quality counterparties, maintaining high levels of vessel utilization and closely controlling costs. The fleet generated operating revenues from fixed-rate time charters of $39.6 million in the three months ended March 31…

07 Mar 2017

Global Ship Lease Reports 4Q Loss

Pic: Global Ship Lease

UK-based containership owner Global Ship Lease (GSL) has reported a fourth-quarter loss of $54.3 million, after reporting a profit in the same period a year earlier. It posted revenue of $41.4 million in the period. Operating revenues for the year ended December 31, 2016 were $166.5 million. For the year, the company reported that its loss widened to $65.1 million. At December 31, 2016, Global Ship Lease owned 18 vessels with a total capacity of 82,312 TEU and an average age, weighted by TEU capacity of 12.0 years. All vessels are currently fixed on time charters, 15 with CMA CGM.

11 Aug 2016

GSL Extends CMA CGM Charters

Marie Delmas. Photo: Marine Marchande

Global Ship Lease (GSL) has extended the charters of the Marie Delmas and Kumasi, two 2,207-TEU vessels, for up to 3.25 years. Under the agreement, a revised rate of $13,000 per day will apply from August 1, 2016 until the charters' previous earliest expiry dates in September 2017, after which Global Ship Lease has three consecutive option periods, the first of 1.25 years and the second and third of one year each, through December 31, 2020 at a rate of $9,800 per day. Ian  continued…

11 Dec 2015

Global Ship Lease Announces Sale of Remaining 4,113 TEU Vessel

Ville D Orion. Photo by Port of Hamburg

Global Ship Lease, Inc has  completed the sale of its 1997-built, 4,113 TEU containership, Ville d'Orion, following redelivery from its previous charter. The vessel was sold for $328.25 per ldt, for estimated net proceeds of $4.5 million. "This provides us with complete insulation from the volatile spot market, while our $800 million of contracted revenue and weighted average remaining lease term of 4.9 years position us well to generate strong, predictable cash flows," Ian added.

05 Nov 2015

GSL in the Red

Image: Global Ship Lease

Global Ship Lease (GSL) has reported negative result for the third quarter of the year mainly due to impairment charges related to two vessels. Company reported revenue of $42.18 million. The estimated revenue was of $39.92 million. Earnings per share were $0.08. Analysts had estimated an EPS of $0.06. Revenue for the nine months ended September 30, 2015 was $120.9 million. Reported net loss  of $41.1 million for the third quarter 2015, after $44.7 million non-cash impairment charge in respect to two vessels.

30 Jun 2015

Global Ship Lease Extends Panamax Charter with X-Press Feeders

Image: Global Ship Lease (GSL)

Global Ship Lease, Inc. has agreed to extend the time charter for the Ville d'Orion, a 1997-built, 4,113 TEU vessel currently on charter with Sea Consortium Pte Limited, doing business as X-Press Feeders. The extension is to between November 26, 2015 and February 26, 2016, at charterer's option, at a gross charter rate of $11,000 per day, compared to the current charter rate of $8,000 per day. The extended time charter will commence immediately upon expiration of the vessel's current time charter on July 26, 2015.

18 May 2015

Global Ship Lease Extends Ville d'Aquarius Time Charter

Global Ship Lease, Inc. has agreed to extend the time charter for the Ville d'Aquarius, a 1996-built, 4,113 TEU vessel currently on charter with Sea Consortium Pte Limited, doing business as X-Press Feeders. The extension is for an additional four to six months, at charterer's option, at a gross charter rate of $10,700 per day, compared to the current charter rate of $8,390 per day. The extended time charter will commence immediately upon expiration of the vessel's current time charter on June 3, 2015. Ian Webber, Chief Executive Officer of Global Ship Lease, commented, "We are delighted to have agreed with Sea Consortium / X-Press Feeders to extend the charter for the Ville d'Aquarius at a significantly higher rate than its previous charter, with no idle time or repositioning costs.

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