OOCL Extends Charter with GSL at Lower Rate

Containership charter owner Global Ship Lease (GSL) has reached an agreement to extend the charter for the OOCL Qingdao with Hong Kong-based Orient Overseas Container Line (OOCL).

Under the deal, the 2004-built containership will continue working for OOCL at a significantly lower rate of USD 14,000 per day, compared to its earlier daily charter rate of USD 34,500.

The contract takes effect from March 11, 2018, in direct continuation of the current charter.

The 8,063 TEU OOCL Qingdao now has the earliest redelivery at January 1, 2019, with the latest redelivery of March 15, 2019, at charterer’s option.

“We are pleased to have secured a charter extension for the OOCL Qingdao that demonstrates both our strong relationship with OOCL and an improving market for our fleet of mid-sized and smaller containerships,” Ian Webber, Chief Executive Officer of Global Ship Lease, said.

“With a robust balance sheet, predictable cash flows, and a reputation as an owner and operator of high-quality containerships, we believe Global Ship Lease is well-positioned to create additional value for shareholders,” Webber added.