en.Wedoany.com Reported - New York-listed container ship owner and lessor Global Ship Lease has announced a $917 million investment to order 10 medium-sized, ultra-high reefer, wide-beam container vessels to expand its fleet.

The Athens-based company said it has signed newbuilding contracts, subject to certain conditions precedent, with deliveries scheduled between the fourth quarter of 2028 and the first quarter of 2030. Upon delivery, the new vessels will be chartered under multi-year agreements, with a TEU-weighted average charter duration of 6.7 years, generating an estimated total adjusted EBITDA of approximately $665 million over the charter period.

Executive Chairman George Youroukos noted that the new vessel design reflects liner customers' demand for greater flexibility and operational efficiency to adapt to evolving trade patterns. "We are pleased to have secured attractive terms for these first-class vessels, which will form the backbone of global container shipping for many years to come, ensuring the successful replacement of the existing fleet as it ages." The existing forward charter coverage amounts to approximately $2.1 billion, spread over 2.6 years. With a strong balance sheet, the company has secured multi-year charters for all 10 newbuilds.

Global Ship Lease currently operates 71 vessels, with a TEU-weighted average age of 18.2 years, of which 41 are wide-beam post-Panama class vessels.

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