Global Ship Lease announced on October 6 that it had exercised options for two additional mid-size containerships, with contracts totaling about $163 million, taking its newbuilding orderbook to 17 vessels.
The exercise remains subject to conditions precedent. The vessels are scheduled for delivery in the fourth quarter of 2029.
The company said it was discussing employment for the two ships with prospective charterers, while the 15 vessels ordered in June had secured multi-year charters.
George Youroukos, the company's executive chairman, said the company was adding the ships on terms agreed earlier this year, “at prices no longer available in the market for comparably specified ships with 2029 deliveries.”
Global Ship Lease previously ordered 10 mid-size containerships in June for about $917 million. The ships have high refrigerated-cargo capacity, with deliveries scheduled from the fourth quarter of 2028 through the first quarter of 2030.
The company said the vessels' multi-year charter agreements had a capacity-weighted average term of 6.7 years and were expected to generate about $665 million in earnings before interest, taxes, depreciation and amortisation on an adjusted basis (EBITDA) over the charter terms.
Global Ship Lease added five more mid-size containerships later in the same month under contracts totalling about $413 million, bringing its orderbook to 15 ships. These vessels are scheduled for delivery in 2029.
