Global Ship Lease Shares Climb 10% After Charter Agreements
August 30 2022 - 1:03PM
Dow Jones News
By Kathryn Hardison
Shares of Global Ship Lease Inc. were up 10% at $18.53 Tuesday
after the containership company said it entered into new multi-year
charters with Hapag-Lloyd AG for six ECO 6,900 TEU ships.
The new charters are each for a period of five years, followed
by two 12-month periods at the option of the charterer. The
charters are scheduled to commence between late 2023 and late 2024,
the company said.
Global Ship Lease said it expects to generate about $13.1
million a ship each year in adjusted earnings before interest,
taxes, depreciation and amortization. Total adjusted Ebitda is
estimated to be $393 million for the six ships over the length of
the agreements.
The company's shares are 19% lower for the year.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
August 30, 2022 12:48 ET (16:48 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Global Ship Lease (NYSE:GSL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Global Ship Lease (NYSE:GSL)
Historical Stock Chart
From Jul 2023 to Jul 2024