Global Ship Lease Buys Containership from OOCL

Global Ship Lease, Inc. took delivery of a 2005-built, 8,063 TEU containership, the OOCL Tianjin. Upon delivery, the vessel commenced a timecharter back to the seller, Orient Overseas Container Lines Limited (OOCL), for 36 to 39 months at a rate of $34,500 per day. With this addition, the company's fleet stands at 18 vessels with a total capacity of 74,412 TEU.

Ian Webber, Chief Executive Officer of Global Ship Lease, stated, "We are pleased to take delivery of this high-quality vessel, which adds $9.4 million to our annual EBITDA and between $37.7 and $40.9 million to our contracted revenue stream while diversifying our charter portfolio."