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2025-12-01 21:08
Addition of 3x 2010/2011 Korean-built, 8,600-TEU vessels with ECO upgrades at substantial discount to open-market charter-free values
Structured acquisitions with minimal downside risk and attractive upside earnings potential consistent with proven track record of disciplined, opportunistic fleet renewal
ATHENS, Greece, Dec. 01, 2025 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE:GSL) (the "Company"), a containership owner and lessor, announced today the purchase of three 8,600 TEU, Korean-built containerships with ECO upgrades (the "Newly Acquired Vessels") for an aggregate purchase price of $90 million. The Newly Acquired Vessels have attached charters with a leading liner company. The charters are at below-market rates and have flexible durations, with latest redeliveries in mid-2030. Assuming the charters run to their full terms, they are expected to generate aggregate revenues of approximately $88 million; and at a through-cycle scrap price of $400 per LWT, the ships would have a combined scrap value of approximately $40 million. With these additions, the Company's fleet will comprise 71 vessels with a total capacity of 422,567 TEU.
The Newly Acquired Vessels are expected to be delivered around year-end 2025. The Company expects to initially fund the acquisition with cash on hand, which facilitates speed of execution, with the potential to attach financing subsequently.