Hapag-Lloyd inks new 7,000 TEU ships charter agreement

Hapag-Lloyd inks new 7,000 TEU ships charter agreement

Global Ship Lease, Inc. (GSL) has entered new multi-year charters with German carrier Hapag-Lloyd for six ECO 6,900 TEU ships.

GSL reported that the new charters comprise a first period of five years, followed by two 12-month periods at the option of the charterer, and are scheduled to commence between late 2023 and late 2024 – following the expiration of existing charters to a different counterparty.

The charters are expected to generate average adjusted EBITDA of approximately $13.1 million per ship, per year, and total adjusted EBITDA of around $393 million for the six ships over the firm charter period.

As of 30 August 2022, GLS owns 65 containerships, ranging from 1,118 to 11,040 TEU, with an aggregate capacity of 342,348 TEU.

“We are pleased to announce that we have chartered these high-quality post-Panamax containerships at rates that reflect the current market, but particularly the long-term need by liner operators for these well-specified vessels,” said George Youroukos, Executive Chairman of Global Ship Lease.

“These new forward charters provide a significant extension of our contracted revenue streams through nearly the end of the decade, and we are delighted to deepen our relationship with Hapag-Lloyd.

“So far this year, through three charter extension options, one prompt fixture, and eleven forward fixtures, we have added almost $920 million of contracted revenues, and we continue to pursue additional attractive, long-term employment for our in-demand fleet.”

Hapag-Lloyd recently started rolling out real-time tracking devices on its dry container fleet to offer visibility and boost transparency across the supply chain.

The new devices will supply location data based on GPS, measure ambient temperature within the container, and monitor any sudden shocks to it. They also integrate energy-harvesting technology and low-power consumption techniques.

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