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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.

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