Global Ship Lease orders five more containerships
Global Ship Lease (GSL) has announced an expansion of its newbuilding program with contracts for five additional mid-sized, ultra-high-reefer, wide-beam containerships. These vessels are slated for delivery in 2029 at an aggregate purchase price of approximately $413 million.
Upon entering service, each of the five new ships will commence multi-year charter agreements. These agreements feature a TEU-weighted average firm term of 8.1 years. GSL anticipates these charters will generate approximately $362 million in Adjusted EBITDA over their initial periods, with an additional $131 million potentially realized if charterers exercise all available extension options.
This latest order brings GSL’s total newbuilding orderbook to 15 containerships. Collectively, these vessels are projected to generate over $1 billion in Adjusted EBITDA across an average TEU-weighted firm charter period of 7.1 years.
George Youroukos, Executive Chairman of Global Ship Lease, highlighted that the new vessels will enhance the company’s long-term earnings profile and contribute to lowering the average age of its fleet. He further emphasized that the ships’ blend of deployment flexibility, significant refrigerated cargo capacity, and fuel efficiency positions them to effectively meet the evolving demands of container shipping customers for the foreseeable future.