NEW YORK-listed Global Ship Lease, a charter owner, announced that it has taken delivery of a 2004-built, 8,063-TEU OOCL Ningbo, then put it on time charter back to Orient Overseas Container Line UK Limited.

The charter is for 36 to 39 months at a rate of US$34,500 per day. With this addition, Global Ship Lease's fleet stands at 20 vessels with a total capacity of 90,538 TEU.

Global Ship Lease (GSL) is the surviving entity of the merger of the CMA CGM's once wholly owned unit GSL, and Marathon Acquisitions owned by Michael Gross, who, like CMA CGM, continue to hold shares in the ship lessor.

"I am delighted with a third high-quality vessel from OOCL, resulting in the expansion of our run-rate EBITDA by 35 per cent compared to this time last year," said Global Ship Lease CEO Ian Webber. 

"The addition of the OOCL Ningbo to our fleet increases our contracted revenue stream by between $37.7 million and $40.9 million, supporting the long-term sustainability of our dividend," he said. 

"Furthermore, with the OOCL Ningbo's full quarterly cash flow contribution in the fourth quarter of 2015, and as previously announced, we intend to increase our regular quarterly dividend at that time to $0.125 per share, or $0.50 per share on an annualised basis, an increase of 25 per cent from its current level.

"While we are pleased with our progress in expanding our earnings power, strengthening our contract coverage, and diversifying our charter portfolio with top-tier chatterers, we believe that attractive opportunities continue to exist in the current market. 

"By virtue of our strong balance sheet and operational track record, Global Ship Lease is well positioned to seize these additional growth opportunities, expanding our dividend-paying capacity and creating value for our shareholders."

Global Ship Lease is a containership charter owner incorporated in the Marshall Islands, it 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