Global Ship Lease Extends Ville d'Aquarius Time Charter

Global Ship Lease, Inc. has agreed to extend the time charter for the Ville d'Aquarius, a 1996-built, 4,113 TEU vessel currently on charter with Sea Consortium Pte Limited, doing business as X-Press Feeders.

The extension is for an additional four to six months, at charterer's option, at a gross charter rate of $10,700 per day, compared to the current charter rate of $8,390 per day. The extended time charter will commence immediately upon expiration of the vessel's current time charter on June 3, 2015.

Ian Webber, Chief Executive Officer of Global Ship Lease, commented, "We are delighted to have agreed with Sea Consortium / X-Press Feeders to extend the charter for the Ville d'Aquarius at a significantly higher rate than its previous charter, with no idle time or repositioning costs. The extension maintains full fleet charter coverage and allows us to benefit from the improving market for mid-size and smaller vessels by achieving a 30% increase in the charter rate for this 1996-built vessel."