CMA CGM, GSL Extend Two Charters at Lower Rates

French container shipping company CMA CGM has extended the charters of two 2,207-TEU vessels, the Marie Delmas and Kumasi, for a period of up to 3.25 years.

The company agreed the extensions for the 2002-built vessels with the UK-based containership lessor Global Ship Lease at GSL’s option.

Under the agreement, a revised rate of USD 13,000 per day will apply from August 1, 2016 until the charters’ previous earliest expiry dates in September 2017. Both vessels were previously chartered at a rate of USD 18,465 per day until March 2018, according to data released by GSL.

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 USD 9,800 per day.

Ian Webber, Chief Executive Officer of Global Ship Lease, said that the extended terms would increase the company’s “contracted revenue by USD 19 million at a time when much of the container shipping market continues to experience significant distress.”

“Additionally, our successive charter options on these two vessels from late 2017 position us to benefit in a strengthening market, while ensuring a base charter rate that is in excess of the current prevailing spot market rates,” Webber added.

Share this article

Follow World Maritime News

Posted on August 11, 2016 with tags .

In Depth>

Events>

<< Apr 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 1 2 3 4 5

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

CWC World Gas & Power Series – Brazil & the Americas Summit

CWC World Gas & Power Series: Brazil & the Americas Summit is the perfect meeting place to make contacts…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

Nor-Shipping 2019

Nor-Shipping’s conference and event programme is tailored to deliver the knowledge, value and networking to help you build your business.

read more >