1.8 C
Hamburg
Sunday, January 24, 2021
Home News CMA CGM & Poseidon Containers enter charter agreements

CMA CGM & Poseidon Containers enter charter agreements

Poseidon Containers to charter four 6,927 TEU containerships to CMA CGM for a period of five years

Global Ship Lease, Inc., a containership charter owner, announced that Poseidon Containers, with which Global Ship Lease has entered a definitive merger agreement, has agreed five-year charters with CMA CGM for four of its 6,927 TEU containerships, Mary, Kristina, Katherine and Alexandra. The charters will deliver incremental annualized EBITDA of approximately $11.0 million compared to third quarter 2018 contracted rates. The new charter for Mary commenced recently, and the remaining three new charters will commence upon expiry of their existing charters during the first half of 2019. The new five-year charters are expected to generate total EBITDA of approximately $135 million over the five-year contract period.

Read more on Nasdaq.

 

- Advertisment - LR Sustainability Decarbonisation Digital Adverts

Latest Posts

FMC hints at carrier penalties to come

The Federal Maritime Commission (FMC) is in the process of independently verifying allegations that carriers are refusing to carry export cargo in contravention of...

MSC vessel is the latest to foil W. Africa pirate attack

MSC Elsa 3 became the latest vessel in a spate of attacks in the West Africa region. The ship was approached by a fast-moving...

Russian container market responds effectively to pandemic

The Russian container market has remained broadly flat in 2020, despite the global and local impact of the Covid-19 crisis, according to Global Ports...

Maersk Essen diverts to Mexican terminal

Maersk Line has confirmed that the stricken vessel, the 13,100TEU Maersk Essen, which lost around 750 containers in a Pacific storm on 16 January,...

HMM adds capacity to North Europe trade

South Korean liner operator HMM will launch an extra loader service from Busan to North Europe and is considering a similar move for its...