Global Ship Lease proceeds with the further renewal and strengthening of its fleet, announcing the order of ten newly built, last-generation container vessels. The agreement, totaling $917 million, concerns medium-sized units with expanded beam and extremely high reefer cargo capacity, which are scheduled to be delivered gradually from the fourth quarter of 2028 to the first quarter of 2030.
According to the company’s official announcement, the newly built vessels have already been contracted with multi-year charters, with an average duration of 6.7 years (TEU-weighted) and at rates expected to generate total EBITDA of approximately $665 million over the respective charter periods.
As stated by the company’s executive chairman, Mr. George Youroukos, the newly built vessels are intended to replace the older vessels that currently generate the highest cash flows. He simultaneously emphasized that the order serves the charterers’ need “for maximum flexibility to adapt to changing trade trends as well as exceptionally efficient operation.” According to management, this shipbuilding venture was made possible thanks to the strong balance sheet and the security provided by the “existing future charter coverage of $2.1 billion.”
