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London, November 17, 2014
Global Ship Lease, Inc. (NYSE:GSL) (the "Company") announced today that it has agreed to extend the time charter for the Ville d'Aquarius, a 1996-built, 4,113 TEU vessel currently on charter with Sea Consortium Pte Limited, doing business as X-Press Feeders. The extended charter will be for an additional four to six months, at charterer's option, at a gross charter rate of $8,390 per day, representing a 12% increase from the vessel's current rate of $7,490 per day. The extended time charter will commence immediately upon expiration of the vessel's current time charter on December 3, 2014.
Ian Webber, Chief Executive Officer of Global Ship Lease, commented, "We are very pleased to have agreed with Sea Consortium / X-Press Feeders to extend the charter for the Ville d'Aquarius at an increased rate. With this agreement, we have capitalized on an improved rate environment, while also furthering our relationship with Sea Consortium / X-Press Feeders, securing full fleet charter coverage, and expanding our substantial contracted revenue stream."
The 1996-built, 4,113 teu "Ville d'Aquarius"
About Global Ship Lease
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Global Ship Lease owns 18 vessels with a total capacity of 74,412 TEU and an average age, weighted by TEU capacity, at October 28, 2014 of 10.6 years. All 18 vessels are currently fixed on time charters, 15 of which are with CMA CGM. The average remaining term of the charters is 5.7 years or 6.5 years on a weighted basis, excluding Ville d'Aquarius and Ville d'Orion, which are deployed in the short term charter market.
Global Ship Lease press release