Global Ship Lease has agreed contracts for 10 new mid-size containerships with an aggregate value of around US$917 million.
The vessels will feature wide-beam designs and ultra-high reefer capacity.
The company said the ships are designed to meet current and future market requirements while offering operational flexibility.
Deliveries are scheduled between the fourth quarter of 2028 and the first quarter of 2030.
Global Ship Lease has already secured multi-year charter agreements for all 10 vessels upon delivery.
The charters carry a TEU-weighted average duration of 6.7 years.
The company expects the vessels to generate aggregate adjusted EBITDA of around US$665 million during their charter periods.
The newbuilding program remains subject to certain conditions precedent.
George Youroukos, Executive Chairman of Global Ship Lease, said the company secured attractive terms for vessels designed to become long-term workhorses of container shipping.
“We expect these vessels to successfully replace our existing ‘cash cows’ as they begin to age out,” he said.
Youroukos added that the vessels were designed to support changing trade patterns and improve operational efficiency.
He said the company’s strategy focuses on balancing downside protection with upside opportunities.
Global Ship Lease secured charter coverage before delivery to reduce market risk.
The company said strong finances supported the decision to proceed with the orders.
Global Ship Lease currently has US$2.1 billion in contracted forward charter coverage spread across 2.6 years.
