Global Ship Lease, Inc. has agreed to extend the time charter for the Ville d'Orion, a 1997-built, 4,113 TEU vessel currently on charter with Sea Consortium Pte Limited, doing business as X-Press Feeders.
The extension is to between November 26, 2015 and February 26, 2016, at charterer's option, at a gross charter rate of $11,000 per day, compared to the current charter rate of $8,000 per day.
The extended time charter will commence immediately upon expiration of the vessel's current time charter on July 26, 2015.
Ian Webber, Chief Executive Officer of Global Ship Lease, commented, "We are pleased to seamlessly extend our charter with Sea Consortium / X-Press Feeders at a rate 37.5% above its current level, taking advantage of a supportive rate environment. With mid-size and smaller vessels underrepresented in the orderbook, our strategic focus on high-quality ships in these important vessel classes’ positions us well for the future."
Global Ship Lease is a containership charter owner. Incorporated in the Marshall Islands, Global Ship Lease commenced operations in December 2007 with a business of owning and chartering out containerships under mainly long-term, fixed-rate charters to top tier container liner companies.