Global Ship Lease Orders Five Ultra-High-Reefer Ships for $413M by 2029
GSL•Global Ship Lease has agreed contracts for five ultra-high-reefer containerships at $413 million, scheduled for 2029 delivery with multi-year charters averaging 8.1-year terms. These vessels should generate $362 million of EBITDA and lift the orderbook to 15 ships projecting over $1.0 billion in EBITDA.
1. Newbuilding Contracts Agreed
Global Ship Lease agreed individual newbuilding contracts for five mid-size, ultra-high-reefer, wide-beam, latest-generation containerships at an aggregate purchase price of $413 million, subject to certain conditions precedent.
2. Charter Terms and EBITDA Outlook
Upon delivery in 2029, the Newbuilds will operate under multi-year charters with a TEU-weighted average term of 8.1 years, expected to generate approximately $362 million of Adjusted EBITDA over firm periods and an additional $131 million if all extension options are exercised.
3. Impact on Fleet and Orderbook
These five vessels bring the overall newbuilding orderbook to 15 ships, collectively projected to deliver over $1.0 billion of Adjusted EBITDA across an average TEU-weighted firm term of 7.1 years, materially reducing average fleet age and extending long-term cash generation runway.
