Global Ship Lease jumps on charters with Germany's Hapag Lloyd

Global Ship Lease

30/08/2022 19:29

** Global Ship Lease Inc's  GSL.N  shares up 8.2% at $18.16
after containership co enters into new charter agreements with
Hapag Lloyd  HLAG.DE 
    ** GSL on course for biggest one-day pct gain since Mar 2
    ** Charters for six ECO 6,900 TEU ships are each for period
of five years, followed by 12-month periods at option of the
charterer  urn:newsml:reuters.com:*:nGNXbBpp7f
    ** Charters scheduled to begin late 2023 and late 2024
    ** Co said expects to generate avg adj EBITDA of ~$13.1 mln
per ship, per year; total estimated adj EBITDA is $393 mln for
the six ships over length of agreements
    ** 1,939,216 GSL shares have traded so far on the session vs
stock's 10-DMA volume of 608,957, per Refinitiv data
    ** With move on Tues, GSL down 21% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))