LONDON, July 17, 2014 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE: GSL ) (the "Company") announced today that it has agreed to a new time charter with Sea Consortium Pte Limited, doing business as X-Press Feeders, for its 1997-built, 4,113 TEU vessel, Ville d'Orion . The charter, which commenced today, is at a gross charter rate of $8,000 per day and is for a period of between six and twelve months, at charterer's option.
Ian Webber, Chief Executive Officer of Global Ship Lease, commented, "We are pleased to have fixed the Ville d'Orion on this charter, extending our commercial relationship with a high-quality carrier in Sea Consortium / X-Press Feeders and ensuring that all of our fleet is now secured on charters. As we are actively pursuing opportunities to utilize our investment capacity to expand our fleet through accretive acquisitions, we also remain focused on increasing our contracted revenue stream, diversifying our charter portfolio, and creating value for our shareholders."
About Global Ship Lease
Global Ship Lease is a containership charter owner. Incorporated in the Marshall Islands, Global Ship Lease commenced operations in December 2007 with a business of owning and chartering out containerships under long-term, fixed rate charters to top tier container liner companies.
Global Ship Lease owns 17 vessels with a total capacity of 66,349 TEU with an average age, weighted by TEU capacity, at June 30, 2014 of 10.3 years. All 17 vessels are currently fixed on time charters, 15 of which are with CMA CGM. The average remaining term of the charters is 6.2 years or 7.3 years on a weighted basis, excluding Ville d'Aquarius and Ville d'Orion .
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements provide the Company's current expectations or forecasts of future events. Forward-looking statements include statements about the Company's expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Words or phrases such as "anticipate," "believe," "continue," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "will" or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. These forward-looking statements are based on assumptions that may be incorrect, and the Company cannot assure you that the events or expectations included in these forward-looking statements will come to pass. Actual results could differ materially from those expressed or implied by the forward-looking statements as a result of various factors, including the factors described in "Risk Factors" in the Company's Annual Report on Form 20-F and the factors and risks the Company describes in subsequent reports filed from time to time with the U.S. Securities and Exchange Commission. Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly revise any forward-looking statement to reflect circumstances or events after the date of this press release or to reflect the occurrence of unanticipated events.
Investor and Media Contact: The IGB Group Bryan Degnan 646-673-9701 or Leon Berman 212-477-8438
