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After the merger of GSL, four container ships were awarded a five-year lease for the CMA

  • Author:James
  • Source:Hong Kong Shipping
  • Release Date:2018-11-18
Global Ship Lease (GSL) announced that it has obtained a five-year lease agreement for CMA CGM ships through a merger agreement with Poseidon Containers.

The company said that the vessels that were leased were "Mary", "Kristina", "Katherine" and "Alexandra". The long-term lease agreement for the four container ships is expected to increase the company's profit before interest, taxes, depreciation and amortization by approximately $135 million over the next five years.

GSL CEO Ian Webber said that through a merger with Poseidon Containers, the company successfully signed a long-term lease agreement with CMA CGM. After completing the transition portfolio with Poseidon Containers, the container ship's charter revenue and long-term visibility of cash flow will strengthen GSL's balance sheet and help the company to further deleverage, plus tax Profit before depreciation and amortization will drive the improvement of financial leverage. Through the merger with Poseidon Containers, the company's fleet has increased significantly, while further consolidating its position in the small and medium container ship market.
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